- Wall Street analysts are keeping an eyeing on the shares of companies that are getting a lift from the sudden rise of the remote workforce.
- The so-called “work from home stocks” covers a broad range of tech players.
- They include companies that offer tools that make it easier to communicate, like Microsoft and Slack, access networks, like Citrix, and store and process documents, like Docusign.
- Other analysts also focus on the companies running the cloud infrastructures and manufacturers, including the PC makers.
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Tech stocks have been taking a beating on Wall Street, but analysts are keeping an eye on companies that are seeing a demand lift from the sudden shift to a remote workforce.
There’s even a name for the brand new category: work-from-home stocks.
“This is a new category of stocks that has emerged from the COVID-19 pandemic,” Wedbush analyst Daniel Ives told Business Insider.
The category is still largely undefined and covers a broad range of tech players. They include companies that offer tools that make it easier to communicate, access networks and store and process documents. Other analysts also focus on the companies running the cloud infrastructures that make it possible to run all these devices and tools. Some analysts add tech manufacturers, including the PC giants, to this basket.
Here are the key categories in the emerging field of work-from-home stocks, according to analysts.