11 Best Consumer Electronics Stocks to Invest in Now

Page 8 of 10

3. Sonos Inc. (NASDAQ:SONO)

Number of Hedge Fund Holders: 32

Sonos Inc. (NASDAQ:SONO) provides premium wireless home sound systems. It designs and manufactures high-quality speakers, soundbars, and accessories that allow users to easily create a multi-room audio experience throughout their homes. It’s renowned for its user-friendly interface and exceptional sound quality, which makes it a popular choice for music lovers and home entertainment enthusiasts.

The company recently introduced Arc Ultra and Sub 4 to expand its consumer electronics segment. Arc Ultra delivers immersive sound with breakthrough Sound Motion technology for deeper bass in a smaller form factor. While Sub 4 enhances bass performance with revamped audio architecture. Arc Ultra delivers up to double the bass of the previous Arc model through audio innovation. This advancement, together with the enhanced performance of Sub 4, positions the company to maintain its leadership in high-fidelity home audio.

It also focuses on user experience improvements through app enhancements. Sonos Inc. (NASDAQ:SONO) expects to invest $20 million to $30 million in app recovery efforts to ensure customer trust. While FY24 presented challenges, including a decline in revenue to $1.52 billion and a net loss of $38.1 million, the company has demonstrated a commitment to improving its software, launching cutting-edge products, and addressing customer concerns.

Page 8 of 10