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As the first quarter comes to a close, the computer hardware industry, part of the Information Technology (NYSEARCA:XLK) sector, has been the best performing area among the 129 available sub-industries.
So far in 2024, the computer hardware sector has gained 59.7%. Still, representatives of the group are rare among the components of the broader market averages.
Inside the tech-focused Nasdaq 100, no computer hardware stocks are listed. Similarly, the Dow also does not contain any names that are pure computer hardware plays.
As for the S&P 500, only 6 computer hardware names are listed in the index. Cumulatively, they make up just 0.49% of the overall index weighting. Those names are:
- HP Inc (HPQ)
- Seagate Technology Holdings (STX)
- Netapp Inc (NTAP)
- Arista Networks (ANET)
- Western Digital Corp (NASDAQ:WDC)
- Super Micro Computer Inc (NASDAQ:SMCI)
While the major averages don’t offer much exposure to the computer hardware industry, there are currently 37 stocks on the market within the category, according to FinViz. Of these, 15 of the names are outperforming the S&P 500, which is higher by 10% in 2024.
See the 15 computer hardware stocks listed below that are outperforming the Nasdaq Composite, S&P 500, and Dow Jones in 2024.
- No. 15: Seagate Technology Holdings (STX) +10.4% YTD.
- No. 14: AstroNova (NOVA) +10.7% YTD.
- No. 13: Quantum Computing (QUBT) +11.7% YTD.
- No. 12: Nano Dimension Ltd (NNDM) +15.2% YTD.
- No. 11: Netapp Inc (NTAP) +18.6% YTD.
- No. 10: Arista Networks (ANET) +22.5% YTD.
- No. 9: Western Digital Corp (WDC) +29.4% YTD.
- No. 8: Dell Technologies (NYSE:DELL) +45.4% YTD.
- No. 7: Pure Storage (PSTG) +45.7% YTD.
- No. 6: Rigetti Computing (RGTI) +52.8% YTD.
- No. 5: One Stop Systems (OSS) +59.5% YTD.
- No. 4: Quantum Corp (QMCO) +61.9% YTD.
- No. 3: D-Wave Quantum Inc (QBTS) +126.1% YTD.
- No. 2: Palladyne AI Corp (STRC) +164.8% YTD.
- No. 1: Super Micro Computer Inc (SMCI) +250.2% YTD.