Today, we’re highlighting a company that’s fueling some of the hottest trends right now…
Regular readers know we like investing in companies that sell “picks and shovels.” These businesses provide vital tools and services that support larger trends… which means they’ll profit no matter who performs well in the industry. Today’s company shows the benefits of this model…
TE Connectivity (TEL) is a $50 billion industrial tech leader. It makes in-demand tech like antennas, wiring and cables, fiber optics, and sensors. The recent surge in popularity for electric cars and cloud-based technology has helped TE Connectivity thrive… In the third quarter, the company posted record-high net sales of $3.8 billion, up 51% year over year. It projects net sales of nearly $15 billion for the full year.
As you can see in today’s chart, TEL shares are rising. They’re up roughly 60% over the past year… And they just hit a new all-time high. As long as electric-car makers and cloud-based companies use TE Connectivity’s technology, this uptrend should continue…
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Source: Daily Wealth’s Market Notes