---
title: "3 IoT Stocks That Could Grow Your Wealth"
description: "Three IoT stocks that could potentially grow wealth are BlackBerry (BB), Oracle (ORCL), and Super Micro Computer (SMCI). BlackBerry is a leading IoT company that has recently struggled financially. Or"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/209421582.md"
published_at: "2024-07-21T17:00:00.000Z"
---

# 3 IoT Stocks That Could Grow Your Wealth

> Three IoT stocks that could potentially grow wealth are BlackBerry (BB), Oracle (ORCL), and Super Micro Computer (SMCI). BlackBerry is a leading IoT company that has recently struggled financially. Oracle's IoT Cloud Service is helping boost the company's earning and share price. Super Micro Computer, which makes servers for IoT technology, has seen its stock soar due to demand from AI and IoT applications.

The Internet of Things (**IoT**) refers to connected technology and devices that can communication between themselves and the cloud. An example is a smart home device communicating to a home’s thermostat to adjust the temperature. Another could be a stove preheating itself before one arrives home from work.

IoT is expected to assist with being more energy efficient, optimizing supply chains and better managing inventory levels. The advent of artificial intelligence (**AI**) is expected to accelerate and advance the adoption of IoT. Could it eventually lead to machines and technology making decisions on their own, independent of human intervention? Time will tell.

So, let’s delve into three IoT stocks that could grow your wealth.

## BlackBerry (BB)

Source: Poetra.RH / Shutterstock.com

It’s considered by many people to be a meme stock, yet its shares are not without risk. However, **BlackBerry** (NYSE:**BB**) remains a leading IoT company. Originally a smartphone maker, BlackBerry has become a cybersecurity and IoT concern over the past 15 years. Until recently, management had been planning to split the cybersecurity and IoT divisions into separate publicly traded companies.

That plan was shelved as the company continues to struggle financially. By June’s end, BlackBerry reported a quarterly loss that grew by nearly 300% year-over-year (**YOY**) as the company’s sales deteriorate. Latest results amounted to a 7 cent per share loss, compared to a 2 cent loss the previous year. Revenue totaled $144 million in Q1, down 61% from $373 million a year earlier.

Despite poor results, BlackBerry Chief Executive Officer (**CEO**) John Giamatteo said on an earnings call with analysts and media that the company is on a “path to profitability.” Earlier this year, the company eliminated 200 jobs and closed six of its 36 global offices. Giamatteo, who became CEO of BlackBerry last December, said the cuts should deliver $125 million in total cost savings. BB stock has declined 50% in the last 12 months.

## Oracle (ORCL)

Source: Jonathan Weiss / Shutterstock.com

Technology giant **Oracle** (NYSE:**ORCL**) runs an “Internet of Things Cloud Service” that enables businesses to correlate, aggregate and filter incoming data and make sense of it. This is one of many offerings from Oracle, a diversified tech giant that is mostly focused on software development. Currently, IoT is a small but growing part of Oracle’s business. Yet, it is helping the company’s earning and share price.

So far this year, ORCL stock is up 33%. The company’s cloud business recently got a boost from deals inked with Google parent company **Alphabet** (NASDAQ:**GOOG**, NASDAQ:**GOOGL**) and privately held **OpenAI**. Specifically, Oracle is bringing its database to Google’s cloud platform. Going forward, organizations will be able to deploy workloads in Google and Oracle cloud data centers without being subjected to data-transfer charges. Additionally, Oracle is moving its headquarters to Nashville, Tennessee.

ORCL stock has risen 140% over the last five years.

## Super Micro Computer (SMCI)

Source: rafapress / Shutterstock.com

**Super Micro Computer** (NASDAQ:**SMCI**) makes the servers that power IoT technology, and business is booming. Owing to demand from both AI and IoT applications and models, SMCI stock has been on fire over the past year. Year-to-date (**YTD**), Super Micro Computer’s stock has gained 180%, making it the best-performing component of the benchmark **S&P 500** index.

On July 22, Super Micro Computer’s stock is being added to the **Nasdaq 100** index, marking another milestone for the fast-growing technology concern. The company’s market capitalization swell to nearly $50 billion was the catalyst to this accomplishment. Inclusion in the Nasdaq 100 should give SMCI stock a boost as mutual funds and exchange-traded funds (**ETF**s) that track the index will be required to buy its shares.

*On the date of publication, Joel Baglole held a long position in GOOGL. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.*

*On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.*

Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.

Artificial Intelligence, Cloud, Software, Technology

### Related Stocks

- [ORCL.US - Oracle](https://longbridge.com/en/quote/ORCL.US.md)
- [SMCI.US - Super Micro Computer](https://longbridge.com/en/quote/SMCI.US.md)
- [BB.US - Blackberry](https://longbridge.com/en/quote/BB.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
