We last looked at SunPower Corp. (NASDAQ: SPWR) earlier in the year, before the economic impact of coronavirus was apparent. Today, stocks across the market have receded, and this pick is one of them. Despite falling more than 12% in the last five days, there’s still high potential in this stock. In fact, the discounted price makes it even more appealing in the current market.
SunPower designs and manufactures solar systems and panels. It offers a turnkey engineering and construction service in North America, making it a fully integrated solar company. The company has warned that it expects an operating loss this year, due in part to the impact of Coronavirus and supply chain constraints. This follows a strong 2019 when the company returned to profitability. However, this period of loss is likely to be short-lived. Analysts expect earnings growth of up to 800% in 2021.
Solar power is receiving more confidence from governments, consumers, and institutional investors. If ignoring the short-term risks created by Coronavirus, SunPower remains a strong pick for the long-term. The discounted price today is an opportunity for new investors.
- 1 Year Price Growth: 61%
- YTD Price Growth: 79%
- 3 Month Price Growth: 78%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.