In this article, we will look at the 10 Best Hardware Stocks To Buy Now.
Are the Tariffs Impacting PC Shipments?
The computer hardware industry comprises personal computers, PC peripherals, storage devices, and servers for the high-growth data center industry. According to a report by The Business Research Company, the computer hardware industry was valued at $714.8 billion in 2024 and is expected to grow at a compound annual growth rate of 6.5% to reach $761 billion by 2025. The market is expected to expand further at a CAGR of 6.3% to reach $972 billion by 2029 eventually. The historic growth factors including the globalization of the supply chain, the rise of the internet, and the revolution in personal computing are still valid. It has been further boosted by the latest trends such as edge and quantum computing, the rise of AI and data centers, and hybrid and multi-cloud environments.
The global PC market is one of the largest components of the hardware industry. According to a January 9 report by IDC, the PC shipments grew 1.8% during Q4 of 2024, with global volumes reaching 68.9 million. Jitesh Ubrani, a research manager at IDC Worldwide Mobile Device Trackers noted that overall the market is experiencing slower growth, however, the fourth quarter was aided by the Chinese government subsidies. The report also pointed out increased concern regarding the increased threats of new tariffs back in January 2025, noting that many brands experienced pull-ins during December as a preventive measure to get ahead of the tariffs.
However, a more recent report published by IDC on April 8, revealed that the PC shipment market remained unaffected by the tariffs as the shipments grew by 4.9% during the first quarter of 2025. Jean Philippe Bouchard, research vice-president with IDC’s Worldwide Mobile Device Trackers noted that these increased shipments were largely a result of the entire ecosystem trying to accelerate the deliveries to avoid the first round of tariffs. He noted that although the market remained largely unaffected by the first round, however, the second round announced on April 2 could lead to an inflationary impact, thereby negatively impacting the shipments in the following quarters.
With that let’s take a look at the 10 best hardware stocks to buy now.
A close-up of a cyber security hardware device used for protection.
Our Methodology
To curate the list of the 10 best hardware stocks to buy now, we used the Finviz stock screener and Insider Monkey’s Q4 2024 hedge funds database. Firstly, we aggregated a list of computer hardware stocks using the screener and sorted the list by market capitalization. Next, we ranked these stocks in ascending order of the number of hedge fund holders.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10 Best Hardware Stocks To Buy Now
10. Logitech International S.A. (NASDAQ:LOGI)
Number of Hedge Fund Holders: 25
Logitech International S.A. (NASDAQ:LOGI) is a Swiss holding company that operates through designing, manufacturing, and marketing computer peripherals and software. Its products and software allow users to enhance their digital experience across diverse domains including gaming, music, video conferencing, and smart homes. The company serves both the individual users and the enterprise market.
During the fiscal third quarter of 2025, Logitech International S.A. (NASDAQ:LOGI) demonstrated strong growth and innovation. It grew its net sales by 6% year-over-year, driven by broad-based growth coming from various products and regions. The Gaming segment was particularly strong with 13% growth nearing pandemic highs. Management noted that growth in the gaming segment was driven by the launch of 16 new products such as the Pro-Line developed with eSports athletes.
Logitech International S.A. (NASDAQ:LOGI) has raised its full-year guidance from $4.39 billion – $4.47 billion to $4.54 billion – $4.57 billion. Management anticipates continuing to grow its sales through new products and innovation in AI. It is one of the best hardware stocks to buy now.
9. IonQ, Inc. (NYSE:IONQ)
Number of Hedge Fund Holders: 28
IonQ, Inc. (NYSE:IONQ) is a leading quantum computing company that designs and provides high-performance quantum computing systems. Its leading products include IonQ Forte and IonQ Fore Enterprise, which has 36 algorithmic qubits. The company’s key offerings include quantum hardware, cloud-based quantum computers, quantum networking, and algorithmic qubits.
On March 31, David Williams, an analyst from Benchmark Co., maintained the Buy rating on the stock with a price target of $45. David highlighted that IonQ, Inc. (NYSE:IONQ) has undergone significant strategic transformation including the transition of CEO, which he believes is anticipated to bring fresh leadership direction. Moreover, the analyst also pointed out the acquisition of ID Quantique which he believes will enhance the company’s technological capabilities and market reach.
In addition, Wasatch Long/Short Alpha Fund mentioned IonQ, Inc. (NYSE:IONQ) in its Q4 2024 investor letter. Although the fund continues to hold a short position in the stock, it noted that the stock rose with Google unveiling its new quantum chip. This news has brought the quantum sector under investor highlight and IonQ, Inc. (NYSE:IONQ) being one of the key players is likely to benefit from it. It is one of the best hardware stocks to buy now.
Wasatch Long/Short Alpha Fund stated the following regarding IonQ, Inc. (NYSE:IONQ) in its Q4 2024 investor letter:
“Among shorts, detractors are those stocks that rose in price. One of the largest among this group was IonQ, Inc. (NYSE:IONQ), a quantum computing company. IonQ announced a new contract win during the period. But the stock’s rise was likely due more to news that Google had unveiled a new quantum chip that drastically reduces computation times. This news heightened investor enthusiasm for the field of quantum computing. However, we believe enthusiasm surrounding the company is out of touch with the company’s fundamentals, and we continue to hold a short position in the stock.”
8. Pure Storage, Inc. (NYSE:PSTG)
Number of Hedge Fund Holders: 30
Pure Storage, Inc. (NYSE:PSTG) is one of the best hardware stocks to buy now. The company operates as a data management and storage technology company. It provides disruptive data storage technologies and platforms that facilitate the storing of both structured and unstructured data. Moreover, its services are tailored for various high-growth industries including data analytics, artificial intelligence, and machine learning.
On April 9th, Krish Sankar, an analyst from TD Cowen, maintained the Buy rating on the stock with a price target of $80. The analyst noted that the management of Pure Storage, Inc. (NYSE:PSTG) has assured effective management of the tariff impact. The company believes that the tariff impact will be less significant and in fact can drive more adoption for its Evergreen Solutions, which allows for component upgrades without the need to change the entire system. In addition, Sankar also highlighted that Pure Storage, Inc. (NYSE:PSTG) has demonstrated its competitive pricing power during the pandemic and the recent design win with Meta further brightens its position in the market.
Artisan Global Discovery Fund stated the following regarding Pure Storage, Inc. (NYSE:PSTG) in its Q4 2024 investor letter:
“During the quarter, we initiated 10 new GardenSM positions, including Pure Storage, Inc. (NYSE:PSTG) and The SageGroup. Pure Storage is redefining enterprise data storage by bypassing traditional approaches used by competitors. Instead of purchasing costly enterprise-grade solid-state drives (SSDs) and layering software on top, Pure Storage sources raw NAND flash memory and designs custom all-flash storage systems, providing a cost advantage. The company has been gaining share of the core enterprise data storage market due to this offering, but we believe its recent announcement of securing a large hyperscaler data center contract potentially opens the company up to a much larger addressable market and gives us confidence that the company can accelerate its growth trajectory over the next two to three years.”
7. NetApp, Inc. (NASDAQ:NTAP)
Number of Hedge Fund Holders: 41
NetApp, Inc. (NASDAQ:NTAP) is an intelligent data infrastructure company that serves enterprises through its data management products and solutions. It operates through two segments including Hybrid Cloud Solutions and Public Cloud Services. The Hybrid Cloud segment provides hardware and software aimed at modernizing data centers, whereas the Public Cloud Services provides solutions for major public clouds including AWS, Azure, and Google Cloud.
During the fiscal third quarter of 2025, NetApp, Inc. (NASDAQ:NTAP) reported net revenues of $1.64 billion, reflecting a 2% increase year-over-year. This growth was driven by growth in the Public Cloud segment which improved 15% during the same time. More notably, the company’s All-Flash Array annualized net revenue grew 10% to reach $3.8 billion. It also introduced new products during the quarter including, the all-new AFF A-Series and C-Series systems, and also enhanced StorageGRID object storage capabilities. Management expects fourth-quarter revenues between $1.65 billion – $1.80 billion. NetApp, Inc. (NASDAQ:NTAP) is one of the best hardware stocks to buy now.
Artisan Mid Cap Value Fund stated the following regarding NetApp, Inc. (NASDAQ:NTAP) in its Q3 2024 investor letter:
“With regard to sales, we exited NetApp, Inc. (NASDAQ:NTAP), an enterprise data storage and solutions company. Shares had moved into the higher end of our range of fair value on strong earnings results and enthusiasm about the long-term growth potential from artificial intelligence for the company’s storage solutions.”
6. Super Micro Computer, Inc. (NASDAQ:SMCI)
Number of Hedge Fund Holders: 45
Super Micro Computer, Inc. (NASDAQ:SMCI) is a technology company that provides high-performance computing, storage, networking solutions, and green computing technology. Its key offerings include hardware solutions, rack-scale solutions, software, and green technologies. The company is known for its SuperBlade, MicroBlade, and SuperStorage technologies.
On April 3, Super Micro Computer, Inc. (NASDAQ:SMCI) announced the industry’s first NVIDIA HGX B200 systems, which demonstrated robust AI performance as per the MLPerf Inference v5.0 benchmarks. The systems delivered more than 3 times the token generation per second in comparison to the previous systems. Moreover, the company released its preliminary second-quarter results for fiscal 2025. Super Micro Computer, Inc. (NASDAQ:SMCI) expects net sales within the range of $5.6 billion to $5.7 billion, indicating a 54% increase year-over-year. Management anticipates maintaining its leadership in direct-liquid-cooling technology with over 30% of data centers expected to adopt the technology over the next 12 months. It is one of the best hardware stocks to buy now.
5. HP Inc. (NYSE:HPQ)
Number of Hedge Fund Holders: 48
HP Inc. (NYSE:HPQ) is an international provider of personal and professional computers and related accessories. It is renowned for its Envy premium laptop series and industrial 3D printing technologies.
During the fiscal first quarter of 2025, the company delivered revenue growth for the third consecutive quarter. Its revenue of $13.5 billion was up 2.4% year-over-year. The growth was driven by the Personal Systems segment which improved 5% during the same time. The company is focused on futuristic technologies including AI and is realigning its operations for AI PCs and advanced computing solutions. Moreover, HP Inc. (NYSE:HPQ) has also diversified its operations and expects that 90% of the products sold in North America to be built outside of China by the end of 2025.
On March 3rd, Amit Daryanani from Evercore ISI maintained a Buy rating on the stock with a price target of $40. It is one of the best hardware stocks to buy now.
4. Seagate Technology Holdings plc (NASDAQ:STX)
Number of Hedge Fund Holders: 52
Seagate Technology Holdings plc (NASDAQ:STX) is a hardware technology company that specializes in mass data storage solutions including HDDs and SSDs. Its products are used in high growth industries including hyperscale data centers and public clouds.
On March 12, Citi analyst Asiya Merchant reiterated their bullish stance on the stock, with a price target of $115. Merchant noted that the positive sentiment is based on the growing demand for the company’s Hard Disk Drives, which the analyst expects to continue growing throughout 2025. This demand is driven by the build plans and the lack of inventory among cloud customers.
In the fiscal second quarter of 2025, Seagate Technology Holdings plc (NASDAQ:STX) grew its revenue by 50% year-over-year to reach $2.33 billion. Management noted that the growth was driven by the nearline cloud business and a strong performance within the enterprise market. It is one of the best hardware stocks to buy now.
3. Dell Technologies Inc. (NYSE:DELL)
Number of Hedge Fund Holders: 63
Dell Technologies Inc. (NYSE:DELL) is a multinational technology company that operates two main segments including Infrastructure Solutions Group and Client Solutions Group. It specializes in Artificial Intelligence, software-based solutions, and cloud infrastructure. The company has a robust portfolio of personal computers, servers, cloud infrastructure technologies, networking, and storage solutions.
On February 27, Dell Technologies Inc. (NYSE:DELL) released its fiscal fourth and full-year 2025 results. The company achieved 8% year-over-year revenue growth for the full year, with the fourth quarter revenue growing 7% during the same time. Management noted that the fourth quarter growth was driven by its Infrastructure Solutions Growth which grew 22%. In addition, the company remains confident in its progress in AI. Dell Technologies Inc. (NYSE:DELL) has noted that it has booked AI deals with xAI and others which has taken its AI server backlog to $9 billion.
Looking ahead, the company expects revenue between $101.0 billion and $105.0 billion, up 8% year over year at the midpoint. It is one of the best hardware stocks to buy now.
2. Arista Networks Inc (NYSE:ANET)
Number of Hedge Fund Holders: 78
Arista Networks Inc (NYSE:ANET) is a leading data-driven cloud networking company that provides technologies for large-scale data centers, campus environments, and routing systems. It operates through Core Networking Systems, Cognitive Adjacencies, and Network Software and Solutions. Its products range from high-speed ethernet switching platforms to Campus wired/wireless products.
In fiscal 2024, Arista Networks Inc (NYSE:ANET) generated $7.03 billion in revenue, reflecting a 19.5% increase year-over-year. The company’s cloud segment contributed around 48% to the annual revenue, whereas the core AI and data center products grew the annual revenue by around 65%. Notably, management shared that Meta has deployed its Arista 7700R4 Distributed Etherlink Switch for its latest Ethernet-based AI cluster. In addition, the company also introduced Switch Aggregation Group capability to its Arista EOS, which is used as an industry-standard Ethernet to group and manage switches.
Moreover, on April 8, Morgan Stanley analyst Meta Marshall maintained a Buy rating on the stock with a price target of $73. It is one of the best hardware stocks to buy now.
Artisan Global Opportunities Fund stated the following regarding Arista Networks Inc (NYSE:ANET) in its Q4 2024 investor letter:
“Along with NovoNordisk, a notable trim in the quarter included Arista Networks Inc (NYSE:ANET). Arista Networks is the market leader in cloud networking equipment used in data centers. Shares have strongly outperformed since the beginning of 2023 as its ethernet options capture market share in AI cloud environments. Many of the largest buyers in this space are focused on utilizing Arista’s networking technology, given meaningful increases in GPU utilization rates versus InfiniBand, the out-of-the-box solution from NVIDIA. We believe Arista remains exceptionally well positioned. However, we have been trimming the position due to our valuation discipline.”
1. Western Digital Corporation (NASDAQ:WDC)
Number of Hedge Fund Holders: 85
Western Digital Corporation (NASDAQ:WDC) is a leading technology company that provides data storage devices and solutions. Its product portfolio includes hard disk drives (HDDs), solid-state drives (SSDs), embedded storage products, flash memory wafers, and data center software.
On April 10, Benchmark upgraded the stock from Hold to Buy with a price target of $55. The positive sentiment was driven by Western Digital Corporation’s (NASDAQ:WDC) developments in the flash memory and nearline drive segments. The analyst believes that these segments are projected to benefit from the improving market. During the fiscal second quarter of 2025, the company delivered $4.29 billion in revenue, reflecting a 5% quarter-over-quarter growth. The growth was driven by the Cloud segment which grew by 6% during the same time. Management expects strong performance from its HDD and has introduced a new strategic approach for its flash business which will help it in capturing the growing demand for AI Data Centers. Western Digital Corporation (NASDAQ:WDC) is the best hardware stock to buy now.
While we acknowledge the potential of WDC to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than WDC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
