Hardware and devices stocks: 8 companies analyzed
The 8 hardware and devices companies Fintols covers, such as Apple, Cisco and Arista Networks: P/E, growth, margin and dividend with dated figures.
This group designs or builds the physical side of tech: smartphones, PCs, servers, networking gear, storage systems, printers and electronic components. The core business is selling units, but the strongest players layer services, accessories, extended warranties and support contracts on top, which keep billing long after the device ships. Many own no factories at all and outsource assembly, mostly to Asia, while keeping the design, the brand and the customer relationship in-house.
Because each product is sold once, gross margin matters a lot: it tells you whether the brand can charge more than a generic maker. Check inventory turnover too, since a warehouse full of gear that ages fast ends in markdowns and write-downs. The share of revenue coming from services helps you judge how steady the business is, and free cash flow shows what is left after investment. Many of these companies return cash through buybacks, so it’s worth asking whether they repurchase stock at sensible prices.
The classic risks are upgrade cycles (people replace a phone or laptop when they feel like it, not when the company needs a strong quarter), heavy reliance on specific suppliers, tariffs and trade tensions, and price wars in commodity products. As a beginner, look for something hard to copy, such as a sticky ecosystem or a deeply loyal customer base, and be careful not to project one great launch season into the future forever. Looking at several years in a row gives a fairer picture.
With data as of November 4, 2026, of the 8 hardware and devices companies Fintols covers, the largest by market value is Apple ($5.08 trillion) among those quoted in dollars and Nokia (€41.4 billion) among those quoted in euros, the fastest-growing in its latest quarter is IonQ (+286.8% in sales) and the highest dividend yield belongs to HP (4.24%). The typical company in the group trades on a P/E of 31.1x and keeps a net margin of 6.6% (medians). Figures come from Yahoo Finance, the same source the Fintols analysis uses; N/A means the figure is not available.
Hardware and devices companies on Fintols
| Company | Market cap | P/E | Revenue growth | Net margin | Dividend yield |
|---|---|---|---|---|---|
| Apple (AAPL) | $5.08 trillion | 38.9x | +11.7% | 27.6% | 0.33% |
| Cisco (CSCO) | $408.5 billion | 31.1x | +17.6% | 21.0% | 1.63% |
| Dell (DELL) | $236.8 billion | 21.6x | +57.7% | 7.5% | 0.62% |
| Arista Networks (ANET) | $225.1 billion | 47.8x | +37.7% | 38.4% | 0.00% |
| Nokia (NOKIA.HE) | €41.4 billion | 52.9x | +9.7% | 3.8% | 1.83% |
| HP (HPQ) | $27.0 billion | 11.4x | +12.5% | 4.1% | 4.24% |
| Supermicro (SMCI) | $19.4 billion | 6.2x | +93.2% | 5.7% | 0.00% |
| IonQ (IONQ) | $12.7 billion | N/A | +286.8% | 0.0% | 0.00% |
Hardware and devices comparisons
- Apple vs Cisco
- Apple vs Arista Networks
- Apple vs Dell
- Arista Networks vs Cisco
- Cisco vs Dell
- Arista Networks vs Dell
- HP vs Supermicro
- HP vs IonQ
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