Sectors & IndustriesTechnologyComputer Hardware

Best Computer Hardware Stocks to Buy Now (2023)

Top computer hardware stocks in 2023 ranked by overall Zen Score. See the best computer hardware stocks to buy now, according to analyst forecasts for the computer hardware industry.

According to Zen Score, the 3 best computer hardware stocks to buy right now are:

Canaan (NASDAQ:CAN) is the top computer hardware stock with a Zen Score of 65, which is 33 points higher than the computer hardware industry average of 32. It passed 21 out of 33 due diligence checks and has strong fundamentals. Canaan has seen its stock lose -11.98% over the past year, overperforming other computer hardware stocks by 6 percentage points.

Canaan has an average 1 year price target of $7.67, an upside of 112.97% from Canaan's current stock price of $3.60.

Canaan stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Canaan, 66.67% have issued a Strong Buy rating, 33.33% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Super Micro Computer (NASDAQ:SMCI) is the second best computer hardware stock with a Zen Score of 58, which is 26 points higher than the computer hardware industry average of 32. It passed 19 out of 33 due diligence checks and has strong fundamentals. Super Micro Computer has seen its stock return 114.55% over the past year, overperforming other computer hardware stocks by 133 percentage points.

Super Micro Computer has an average 1 year price target of $98.33, an upside of 16.59% from Super Micro Computer's current stock price of $84.34.

Super Micro Computer stock has a consensus Hold recommendation according to Wall Street analysts. Of the 3 analysts covering Super Micro Computer, 0% have issued a Strong Buy rating, 33.33% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Netapp (NASDAQ:NTAP) is the third best computer hardware stock with a Zen Score of 54, which is 22 points higher than the computer hardware industry average of 32. It passed 20 out of 38 due diligence checks and has strong fundamentals. Netapp has seen its stock lose -23.12% over the past year, underperforming other computer hardware stocks by -5 percentage points.

Netapp has an average 1 year price target of $78.17, an upside of 15.6% from Netapp's current stock price of $67.62.

Netapp stock has a consensus Hold recommendation according to Wall Street analysts. Of the 18 analysts covering Netapp, 16.67% have issued a Strong Buy rating, 22.22% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 11.11% have issued a Strong Sell.

Out of 5 computer hardware stocks that have issued dividends in the past year, the 3 computer hardware stocks with the highest dividend yields are:

Hp (NYSE:HPQ) has an annual dividend yield of 3.32%, which is 1 percentage points higher than the computer hardware industry average of 2.53%. Hp's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Hp's dividend has shown consistent growth over the last 10 years.

Hp's dividend payout ratio of 32.4% indicates that its dividend yield is sustainable for the long-term.

Netapp (NASDAQ:NTAP) has an annual dividend yield of 2.96%, which is the same as the computer hardware industry average of 2.53%. Netapp's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Netapp's dividend has shown consistent growth over the last 10 years.

Netapp's dividend payout ratio of 29.8% indicates that its dividend yield is sustainable for the long-term.

Dell Technologies (NYSE:DELL) has an annual dividend yield of 2.34%, which is the same as the computer hardware industry average of 2.53%.

Dell Technologies's dividend payout ratio of 40.4% indicates that its dividend yield is sustainable for the long-term.

Computer hardware stocks were down -0.8% in the last day, and up 4.85% over the last week.

We couldn't find a catalyst for why computer hardware stocks are down.

Based on WallStreetZen's Valuation Score, the 3 most undervalued computer hardware stocks right now are:

Canaan (NASDAQ:CAN) is the most undervalued computer hardware stock based on WallStreetZen's Valuation Score. Canaan has a valuation score of 100, which is 68 points higher than the computer hardware industry average of 32. It passed 7 out of 7 valuation due diligence checks.

Canaan's stock has dropped -11.98% in the past year. It has overperformed other stocks in the computer hardware industry by 6 percentage points.

Hp (NYSE:HPQ) is the second most undervalued computer hardware stock based on WallStreetZen's Valuation Score. Hp has a valuation score of 57, which is 25 points higher than the computer hardware industry average of 32. It passed 4 out of 7 valuation due diligence checks.

Hp's stock has dropped -19.11% in the past year. It has underperformed other stocks in the computer hardware industry by -1 percentage points.

Super Micro Computer (NASDAQ:SMCI) is the third most undervalued computer hardware stock based on WallStreetZen's Valuation Score. Super Micro Computer has a valuation score of 57, which is 25 points higher than the computer hardware industry average of 32. It passed 4 out of 7 valuation due diligence checks.

Super Micro Computer's stock has gained 114.55% in the past year. It has overperformed other stocks in the computer hardware industry by 133 percentage points.