How Ericsson Stock Stands Out in a Strong Industry

One stock that might be an intriguing choice for investors right now is Ericsson ERIC. This is because this security in the Wireless Equipment space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Wireless Equipment space as it currently has a Zacks Industry Rank of 19 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.Meanwhile, Ericsson is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.Ericsson Price and Consensus Ericsson price-consensus-chart | Ericsson QuoteIn fact, over the past month, current quarter estimates have risen from 10 cents per share to 11 cents per share, while current year estimates have risen from 48 cents per share to 52 cents per share. This has helped ERIC to earn a Zacks Rank #2 (Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.So, if you are looking for a decent pick in a strong industry, consider Ericsson. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ericsson (ERIC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks