NETGEAR, Inc. ( NTGR Quick Quote NTGR - Free Report) recently announced the launch of an avant-garde router — Nighthawk RAXE500 Tri-band Wi-Fi router — during the virtually-hosted CES (Consumer Electronics Show) 2021 event. Markedly, CES, organized by the Consumer Technology Association, is known as the most prestigious tech event in the world. The event hosts a plethora of next-gen products and technological innovations related to the consumer electronics industry. That said, NETGEAR’s latest addition to the Nighthawk line of performance routers comes as a boon, especially at a time when majority of the households are facing high network traffic issues due to rise in work-from-home trends and distance learning amid the COVID-19 pandemic situation. Hailed as the first all-purpose router with advanced Wi-Fi 6E technology, the Nighthawk RAXE500 Tri-band Wi-Fi router delivers superior connectivity on the back of 6GHz band ultra-low latency with minimum network congestion. The Wi-Fi 6E technology is considered a perfect solution to address the increasing demands of 4K/8K streaming and video conferencing with Augmented Reality/Virtual Reality gaming experience. This makes it even more worthwhile among the millennial customers. Markedly, the CES 2021 Innovations Award Honoree is equipped with three dedicated Wi-Fi bands that delivers combined speeds up to 10.8Gbps and a 1.8GHz quad-core processor with 3X more high-bandwidth even in dense and congested areas. With a 2.5G multi-gig ethernet port, it ensures security with NETGEAR Armor Cybersecurity application. The platform is widely known for providing enhanced protection for home networks, phones and laptops against malicious cyberthreats. Currently, the device is slated to be commercially available in the first quarter of 2021 with a retail price of $599.99. Apart from the Nighthawk RAXE500 Tri-band Wi-Fi router, NETGEAR launched few other next-gen networking products that promises to support customers with uninterrupted connectivity. These are Nighthawk 4G LTE Wi-Fi 6 Router (LAX20), the industry’s first Wi-Fi 6 mobile wireless router and NETGEAR 4G LTE Modem (LM1200) that will connect home or office networks in the absence of traditional fiber broadband options. It also launched the advanced version of Remote Cloud management solution, NETGEAR Insight, to support small and medium sized businesses with insightful topology maps showing a clear view of wired and wireless networks. WAX214 and WAX218 wall/ceiling mount Wi-Fi 6 Access Points, along with MS510TXM and MS510TXUP multi-gig switches, were also part of the launch list. Holding nearly 49% market share in U.S. retail Wi-Fi products, the San Jose, CA-based networking behemoth intends to remain proactive with its broad line-up of Orbi, cable modems and gateways coupled with its SMB switching portfolio, particularly the PoE and ProAV switches. It continues to capitalize on technology inflections, create new categories and generate recurring revenues to sustain its leading market position and drive growth. NETGEAR’s top line is growing due to the rapid surge in Internet-connected devices, thereby boosting the need for robust networking solutions. An increased market demand for Smart Home and connected products such as Smart TVs, game consoles and HD streaming players, continues to spur innovation in the networking space. Notably, it generates a significant portion of its revenues from the Connected Home segment that offers high-performance and easy-to-use LTE and Wi-Fi Internet networking solutions for consumers. Shares of NETGEAR have soared 52.5% against the industry’s decline of 5.6% in the past year. The company’s earnings topped estimates in each of the last four quarters, the average being 60%. NETGEAR currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked stocks in the industry are Cisco Systems, Inc. ( CSCO Quick Quote CSCO - Free Report) , Digi International Inc. ( DGII Quick Quote DGII - Free Report) and Lantronix, Inc. ( LTRX Quick Quote LTRX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Cisco pulled off a trailing four-quarter positive earnings surprise of 6.6%, on average. Digi International pulled off a trailing four-quarter positive earnings surprise of 546.9%, on average. Lantronix delivered a trailing four-quarter positive earnings surprise of 50%, on average. Looking for Stocks with Skyrocketing Upside?
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