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Highlights
- CES 2022 kicked off today, with several consumer electronics and IT companies making keynote addresses.
- Sony stated its plans to launch a Sony Mobility division and unveiled the Vision S 02 EV prototype at the event.
- Intel announced its 12th gen chipsets while Samsung stated plans to launch a smart home dashboard, the Smart Home Hub.
The world’s biggest IT and consumer electronics tech show, the CES 2022 event kicked off today,5 January 2022, with several tech giants coming up with various key announcements.
Some of the biggest electronics and tech companies which have made announcements thus far include Japanese electronics giant Sony (LON:0L83), tech major Intel (LON:0R24), Samsung (LON:SMSN), amongst others.
Sony unveiled a new version of an electric vehicle prototype, the Vision-S 02, at the event, as it aims to enter the fast-growing EV space. Sony is considering launching its Sony Mobility business arm later this year in spring.
The company also confirmed the name of its next VR headset, called the PlayStation VR2, amongst other announcements at the event.
Meanwhile, Samsung said it plans to launch its Samsung Home Hub, a smart home controller. The controller will be launched in Korea in H1 2022 and will not be available in the US market for now.
Some other keynote addresses made by tech companies so far include Intel’s 12th generation Aldar Lake chipsets announcement at the event. This event is expected to conclude on 8 January later this week.
In view of this, let us look at 2 FTSE listed stocks in the tech sector and explore the investment opportunities within:
- Softcat PLC (LON: SCT)
Softcat is an IT infrastructure solutions provider. It belongs to the FTSE 250 index.
The group recently reported it had ‘performed well’ in its Q1 2022, adding that its cash generation continued to be strong and was in line with normal trends. The group said it had shown growth across its revenues, gross profit, and operating profit in Q1 on a year-on-year basis.
Image source: Refinitiv
The company’s shares ended at GBX 1,739.00, down by 65.00 points, or 3.60 per cent on 4 January. Its market cap was at £3,594.80 million, and it had a one-year return of 24.24 per cent as of date.
The FTSE 250 index closed at 23,896.65, up by 415.84 points, or 1.77 per cent.
- Alphawave IP Group PLC (LON: AWE)
The main market listed Alphawave IP is a UK-based leading high-speed connectivity communications equipment provider for tech infrastructure.
The group agreed to buy Precise ITC for a total cash consideration of US$ 25 million, according to its latest strategic business update. The deal is expected to be completed this month and will start contributing towards the group’s revenues from this year onwards.
Image source: Refinitiv
The company’s shares ended at GBX 190.30, down by 9.50 points, or 4.75 per cent on 4 January. Its market cap was at £1,328.60 million as of date. The group was admitted to the LSE on 13 May 2021.
