5 Best Consumer Electronics Stocks To Buy

In this article, we discuss 5 best consumer electronics stocks. If you want to read our detailed discussion on the consumer electronics industry, head over to 11 Best Consumer Electronics Stocks to Buy.

5. Sony Group Corporation (NYSE:SONY)

Number of Hedge Fund Holders: 21

Sony Group Corporation (NYSE:SONY) creates and sells electronic equipment, instruments, and computer devices for consumer, professional, and industrial markets in Japan, China, the United States, Europe, and the Asia-Pacific markets. The company, founded in 1946, is based in Tokyo, Japan. On February 14, Sony Group Corporation (NYSE:SONY) announced a Q3 GAAP EPS of ¥294.82 and a revenue of ¥3747.5 billion. It ranks 5th on our list of the best consumer electronics stocks. 

According to Insider Monkey’s fourth quarter database, 21 hedge funds were bullish on Sony Group Corporation (NYSE:SONY), same as the preceding quarter. Ken Fisher’s Fisher Asset Management is the top shareholder of the company, with 6.36 million shares worth $602.15 million.

Aristotle Capital made the following comment about Sony Group Corporation (NYSE:SONY) in its Q3 2022 investor letter:

“Sony Group Corporation (NYSE:SONY), the global provider of video games and consoles, image sensors, and music, as well as movies, was a major detractor for the period. The share price of the company has struggled this year following its strong performance in 2021. Signs of a slowdown in the gaming industry (as people seem inclined to take on outdoor activities as pandemic fears have subsided), combined with sales of its PlayStation 5 that have been held up by a global parts shortage, have led to gaming‐related software sales falling more than 20% year‐over‐year. Rather than focusing on short‐term demand dislocations, we focus on the company’s ability to continue migrating videogame users toward the firm’s subscription offerings, as well as its capacity to leverage content across its video, music and gaming platforms. We are also impressed with the expansion of Sony’s Music segment, which has been supported by the pervasiveness of streaming services. Management’s ongoing work to improve the company’s TV and film studios is bearing fruit as well, with sales growing 67% year‐over‐year for its Pictures segment as its regional strategy has taken hold, including recent progress made toward solidifying a merger plan with India‐based Zee Entertainment. All of this is to say we remain excited by the oligopolistic nature of the businesses Sony operates in, and the future prospects for the company given its leadership in image sensors, music publishing and gaming consoles.”

4. Sonos, Inc. (NASDAQ:SONO)

Number of Hedge Fund Holders: 24

Sonos, Inc. (NASDAQ:SONO) designs, develops, manufactures, and sells audio products and services across the Americas, Europe, Africa, the Middle East, and the Asia Pacific. Their product range includes wireless, portable, and home theater speakers, as well as related components and accessories. It is one of the best consumer electronics stocks. On February 6, Sonos, Inc. (NASDAQ:SONO) reported results for the first quarter of fiscal year 2024. The company announced a non-GAAP EPS of $0.84 and a revenue of $612.87 million, outperforming Wall Street estimates by $0.30 and $25.67 million, respectively.

As per Insider Monkey’s fourth quarter database, 24 hedge funds were bullish on Sonos, Inc. (NASDAQ:SONO), up from 17 funds in the previous quarter. Douglas T. Granat’s Trigran Investments is the leading position holder in the company, with 6.67 million shares worth $114.4 million.

Here is what Aristotle Capital Management Small Cap Equity has to say about Sonos, Inc. (NASDAQ:SONO) in its Q1 2022 investor letter:

“Sonos (NASDAQ:SONO), a consumer electronics company with proprietary multi-room smart speaker technology, was added to the portfolio on the belief that strong consumer demand for the company’s differentiated product offering plus a multi-year pipeline of upcoming new product introductions are expected to drive shareholder value for the next several years.”

3. Whirlpool Corporation (NYSE:WHR)

Number of Hedge Fund Holders: 30

Ranking third on our list of the best consumer electronics stocks, Whirlpool Corporation (NYSE:WHR) is a manufacturer and marketer of home appliances and related products and services across North America, Europe, the Middle East, Africa, Latin America, and Asia. The company’s primary products consist of refrigerators, freezers, ice makers, refrigerator water filters, and laundry appliances. On February 20, Whirlpool Corporation (NYSE:WHR) declared a $1.75 per share quarterly dividend, in-line with previous. It is to be paid on March 15 to shareholders of record as of March 1.

According to Insider Monkey’s fourth quarter database, 30 hedge funds were bullish on Whirlpool Corporation (NYSE:WHR), an increase from 22 funds in the last quarter. Andrew Wellington and Jeff Keswin’s Lyrical Asset Management held the top position in the company, comprising 1.03 million shares valued at $125.69 million.

2. Best Buy Co., Inc. (NYSE:BBY)

Number of Hedge Fund Holders: 32

Best Buy Co., Inc. (NYSE:BBY) is one of the best consumer electronics stocks. It is a technology product retailer operating in the United States and Canada. The company is divided into Domestic and International segments. Best Buy stores offer a range of computing and mobile phone products, including desktops, laptops, and related accessories. 

On March 1, Best Buy Co., Inc. (NYSE:BBY) declared a $0.94 per share quarterly dividend, a 2.2% increase from its previous dividend of $0.92. The dividend is to be paid on April 11 to shareholders on record as of March 21.

According to Insider Monkey’s fourth quarter database, 32 hedge funds were bullish on Best Buy Co., Inc. (NYSE:BBY), up from 28 funds in the preceding quarter. Cliff Asness’ AQR Capital Management held a significant position in the company, with 1.1 million shares valued at $85.98 million.

Mairs & Power Growth Fund stated the following regarding Best Buy Co., Inc. (NYSE:BBY) in its fourth quarter 2023 investor letter:

“We added two smaller positions to the portfolio in the fourth quarter as well—Piper Sandler (PIPR) and Best Buy Co., Inc. (NYSE:BBY)–both of which are Minnesota-based. We also initiated a position in Best Buy, a leading electronics retailer with more than 1,000 stores nationwide. We’ve been impressed with management’s ability to navigate a difficult retail landscape, gaining share amongst its offline competitors. The consumer electronics market is suffering from a spending hangover after the Pandemic, but we are starting to see green shoots of a recovery; in the meantime, Best Buy offers a 5% dividend.”

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Apple Inc. (NASDAQ:AAPL) is one of the best consumer electronics stocks to buy. On February 1, Apple Inc. (NASDAQ:AAPL) declared a $0.24 per share quarterly dividend, in-line with previous. The dividend was paid on February 15. Apple Inc. (NASDAQ:AAPL) also announced results for the first quarter of fiscal year 2024 on February 1. The company reported a GAAP EPS of $2.18 and a revenue of $119.6 billion, beating Wall Street estimates by $0.07 and $1.34 billion, respectively.

As per Insider Monkey’s fourth quarter database, 131 hedge funds were bullish on Apple Inc. (NASDAQ:AAPL), compared to 134 funds in the prior quarter. Warren Buffett’s Berkshire Hathaway is the top shareholder of the company, with 905.56 million shares valued at $174.35 billion.

Horizon Kinetics stated the following regarding Apple Inc. (NASDAQ:AAPL) in its fourth quarter 2023 investor letter:

“The full point is that if BYD has turned its attention from its domestic market to direct global competition, then other Chinese companies can do the same. The next most visible example of Chinese commercially applied technological prowess relates to the 2nd highest-weight company in the S&P 500, Apple Inc. (NASDAQ:AAPL).

In September 2023, Huawei Technologies introduced its Mate 60 Pro smartphone. It uses its own, internally developed 5G enabled chip that is apparently competitive with the Apple A17 chip. For practical purposes it has the functionality of the iPhone 15 Pro. This came as a great surprise – perhaps even shock – to the U.S. technology community, because four years ago the U.S. placed strict sanctions on China’s access to state-of-the-art semiconductor manufacturing technology…”

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