Nanotechnology has been taking the world of innovation by storm over the years as it continues to find application in a variety of areas. Notably, nanotechnology is involved in the making of devices and materials at a nanoscale while increasing efficiency and delivering better results. One of the major areas where nanotechnology has found wide usage is the computing and electronics segment. Notably, with the help of nanotechnology, modern computers have increasingly become smaller as the transistors within them have been reduced in size. At the same time, computers have become faster and more efficient and can store huge volumes of data than before.
Meanwhile, nanotechnology has also found application in the textile segment with the development of smart fabric. Notably, smart fabric is a kind of textile that doesn’t wrinkle, is stronger than traditional fabric, and offers more functionalities to the wearer. Nanotechnology is also being used in other everyday objects such as furniture where nanocoating is being applied to prevent dirt stains and make them waterproof, among other uses. To achieve the same purposes, nanocoating or nano-ceramic coating is being used on cars as well.
Nanotechnology is also bringing in innovation to the healthcare segment. Notably, with the help of nanotechnology, researchers are now looking at ways to use nanoparticles for a more efficient way of delivering drugs and other substances. Interestingly, nanotechnology is being used in agriculture with the help of nano pesticides, which can increase the productivity of crops while reducing the harmful effects generated by traditional pesticides. Meanwhile, the food industry is also making use of nanotechnology to enhance the quality and taste of food, increase its shelf life, and so on.
Markedly, the uses of nanotechnology are varied and only look set to grow going forward, calling for further funding and research. Toward that end, the U.S. National Nanotechnology Initiative (“NNI”) stated in October 2020 that the President’s 2021 Budget requested over $1.7 billion for the NNI, with increased investment in foundational research, as mentioned in a
Nano.gov article. Moreover, the article stated that including the 2021 request, the cumulative total would be over $31 billion. Reflective of the positive developments with respect to nanotechnology, a report by Emergen Research stated that the global nanotechnology market is expected to witness a CAGR of 18.3% and reach $290.93 billion in 2028. 4 Stocks to Keep an Eye On
The nanotechnology market seems ready to grow in the near term as it offers more efficiency and improves healthcare, lifestyle and so on. Hence, this seems like a good moment to look at companies that can make the most of this continued uptrend. Notably, we have selected four such stocks that carry a Zacks Rank #2 (Buy) or 3 (Hold). You can see
. the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Onto Innovation Inc. ( ONTO Quick Quote ONTO - Free Report) offers 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects; macro defect inspection of wafers and packages; and so on. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings increased 16.4% over the past 60 days. The company’s expected earnings growth rate for the current year is 65.3%. DuPont de Nemours, Inc. ( DD Quick Quote DD - Free Report) provides technology-based materials, ingredients, and solutions. It does research and development pertaining to nanotechnology, chemistry, materials science and engineering, among others. The company currently has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings increased 9.3% over the past 60 days. The company’s expected earnings growth rate for the current year is 11.9%. Thermo Fisher Scientific Inc. ( TMO Quick Quote TMO - Free Report) offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. Notably, the company’s Avizo Software allows for on-the-fly processing of various statistics of nanoparticles. It currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings increased 1.4% over the past 60 days. The company’s expected earnings growth rate for the current year is 12.7%. International Business Machines Corporation ( IBM Quick Quote IBM - Free Report) provides integrated solutions and services worldwide. Recently, the company unveiled the world’s first chip with 2 nanometer nanosheet technology. The company currently has a Zacks Rank #3. The Zacks Consensus Estimate for its next-year earnings increased 1% over the past 60 days. The company’s expected earnings growth rate for the current year is 25.3%. 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 77 billion devices by 2025, creating a $1.3 trillion market.
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