There just might be a resurgence occurring in tech stocks. After what felt like months of floundering, chip giant NVIDIA (NVDA - Free Report) is finally on the move following the announcement of its next-gen graphics cards. Then you have Advanced Micro Devices (AMD - Free Report) ripping market share from Intel (INTC - Free Report) and surging higher, into the $20s finally. Looking for the next big thing, I’ve stumbled across today’s Bull of the Day, AVX Corp (AVX - Free Report) .
AVX Corporation, together with its subsidiaries, manufactures, supplies, and resells various electronic components, interconnect devices, sensing and control devices, and related products worldwide. The company operates through three segments: Electronic Components; Interconnect, Sensing and Control Devices; and Kyocera Electronic Devices Resale. The Electronic Components segment primarily offers surface mount and leaded ceramic, film, and tantalum capacitors; RF thick and thin film components; ceramic and film power capacitors; super capacitors; EMI filters; thick and thin film packages of multiple integrated components; varistors; thermistors; inductors; resistive products; and passive and active electronic antennas. The Interconnect, Sensing and Control Devices segment manufactures and resells electronic connectors, interconnect systems, and sensing and control devices for use in various industries. The Kyocera Electronic Devices Resale segment distributes and sells ceramic capacitors, RF modules, frequency control devices, SAW devices, sensor products, actuators, acoustic devices, and connectors produced by Kyocera Corporation of Japan.
The stock is a Zacks Rank #1 (Strong Buy) in an industry that ranks in the Top 20% of our Zacks Industry Rank. A big reason for the favorable rank is the recent jump in earnings estimates coming from analysts. Over the last thirty days, the Zacks Consensus Estimate has gone from 75 cents to $1.29 for the current year. Current quarter consensus has climbed from 19 cents all the way up to 31.
No wonder the stock has been en fuego recently. This is a stock that was trading down under $16 just two short months ago. From that base, the stock surged up to $21.50 before coming back down to support in the mid $19s. Now the stock appears to be on the move again, up over $20 during today’s trading session.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
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