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U.S. bond yields continue to slip away from recent five-month highs, easing pressure on stocks

NETGEAR (NTGR) Unveils WAX628 and WAX638E Wi-Fi 6 and 6E

Zacks Equity Research
·4 min read

NETGEAR, Inc. NTGR has announced the launch of WAX628 and WAX638E Wi-Fi 6 and 6E access points and services to tap the residential installer market.

The current launch is aimed at tapping the growing demand for Wi-Fi and Internet connectivity. Per a report from Markets and Markets, the global Wi-Fi 6 market size is expected to grow from $11.5 billion in 2022 to $26.2 billion by 2027, at a CAGR of 17.9%. The industry is expected to benefit from increased Wi-Fi users and increased proliferation of smart devices, added the report.

The WAX628 and WAX638E offer speeds up to 5.4 Gbps and 7.8 Gbps, respectively. The new system also extends the Wi-Fi range without using ethernet wiring and can be paired with all the existing Wi-Fi endpoints.

Apart from that, it also has a 2.5 Gbps ethernet port for connecting to a PoE++ switch without interrupting traffic. It also features SSIDs and VLANs managed by NETGEAR Insight to provide robust safety and security.

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The new system includes four years of NETGEAR Insight for remote management and four years of ProSupport, which offers professional advice on access point installation, AV and Wi-Fi network architecture, and other topics.

The company continues to invest heavily in research and development to expand its product line. Recently, the company announced the launch of the Nighthawk AXE3000 Wi-Fi 6E USB 3.0 Adapter (A8000) to further boost Internet connectivity and improve Wi-Fi speed.

The adapter automatically switches between 2.4GHz, 5GHz and 6GHz, providing speed up to 1.2Gbps, so that users can stream HD videos and play games. Apart from that, it also features WPA3 Security to ensure user safety and is compatible with older Wi-Fi routers.

Prior to that, the company launched the Insight Managed Wi-Fi 6 AX3000 Dual-band Multi-Gig Poe Access Point (WAX615) to provide better Internet connectivity to small and medium businesses.

The current product launch of WAX628 and WAX638E complements the previous launches of Nighthawk AXE3000 and Insight Managed Wi-Fi 6 to provide users with high-speed Internet connectivity.

NETGEAR offers innovative networking and Internet-connected products for seamless networking, broadband access and network connectivity. The company continues to focus on introducing products into growth areas, which form the basis of Smart Homes as it strives to be the provider of industry-leading networking and smart connected products for consumers, business and service provider markets.

Recent Quarterly Performance of Peers

Cisco Systems CSCO reported fourth-quarter fiscal 2022 non-GAAP earnings of 83 cents per share, which lagged the Zacks Consensus Estimate by 27.38%. The bottom line decreased 1.2% year over year.

Revenues were almost unchanged year over year at $13.10 billion. Cisco’s revenues beat the consensus mark by 2.75%. Service revenues were unchanged year over year at $3.41 billion, and Annualized Recurring Revenues (“ARR”) came in at $22.9 billion, up 8% year over year.

Seagate Technology Holdings plc STX reported fourth-quarter fiscal 2022 non-GAAP earnings of $1.59 per share, missing the Zacks Consensus Estimate of $1.89. The bottom line declined 21% from the year-ago quarter’s figure and 12% sequentially.

Non-GAAP revenues of $2.628 billion missed the Zacks Consensus Estimate by 6.3%. The figure declined 13% on a year-over-year basis and fell 6% sequentially. STX top-line performance was affected by inflationary pressures, non-HDD component shortages and COVID lockdowns in Asia.

Hewlett Packard Enterprise HPE reported third-quarter fiscal 2022 non-GAAP earnings of 48 cents per share, which matched the Zacks Consensus Estimate and was a penny higher than the year-ago quarter’s earnings of 47 cents per share.

Revenues of $7 billion increased 1% from the prior-year quarter and surpassed the consensus mark of $6.97 billion. ARR was up 22% year over year to $858 million. Hewlett Packard continued to witness increased demand for its products and services during the quarter, primarily driven by the accelerated digital transformation amid the remote working trend.


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