Yahoo Finance Arrow Electronics (ARW) & Resideo to Help Habitat for Humanity
Arrow Electronics ARW has collaborated with Resideo Technologies REZI to help Habitat for Humanity create smart home technology in Aurora, CO. This partnership aims to enhance the quality of life for residents in the Mountain View Community Homes, providing them with secure, convenient and energy-efficient living spaces at no additional cost.
Both companies are equipping each home in the Mountain View Community with a suite of smart home devices. These include products from Resideo's First Alert and Honeywell Home brands, such as smart thermostats, air treatment systems, video doorbells, outdoor security cameras and water leak detection systems.
ARW's involvement extends beyond supplying technology and it supports Resideo with engineering and supply chain services. Through this collaboration, the goal is to seamlessly integrate smart home solutions into the construction process without inflating building costs, thereby making them accessible to new homeowners.
The Mountain View Community is Habitat for Humanity's inaugural project showcasing an integrated smart home solution. With anticipated move-ins scheduled for early 2025, this initiative underscores the commitment to leveraging technology to create more sustainable and connected communities.
Arrow Electronics, Inc. Price and Consensus
Arrow Electronics, Inc. price-consensus-chart | Arrow Electronics, Inc. Quote
ARW’s Recent Advancements to Aid Top-Line Growth
The company is enhancing its support for customers venturing into artificial intelligence (AI) and machine learning for embedded applications with the launch of Arrow Edge AI engineering services. These resources encompass a range of offerings, including consultancy, technical training, design services, pre-built software and a curated array of tools. Morten Block, marketing director of EMEA at Arrow Electronics, highlights the growing significance of AI in various sectors and the challenges inherent in developing AI applications for edge computing platforms.
Arrow Electronics has signed a distribution agreement with The Things Industries, a provider of LoRaWAN solutions in the EMEA region. By leveraging The Things Industries' LoRaWAN network server and ARW's suite of related products, the collaboration aims to lower the total cost of ownership for LoRaWAN projects. Through this partnership, the company will offer components, LoRaWAN connectivity and engineering services, streamlining the procurement process and providing customers with cost savings, time efficiency and comprehensive support for successful LoRaWAN deployments.
These recent advancements are expected to aid the company’s top-line growth in the upcoming quarters.
The Zacks Consensus Estimate for ARW’s fiscal 2024 revenues is pegged at $27.9 billion, indicating a year-over-year decline of 15.73%. The Zacks Consensus Estimate for 2024 earnings is pegged at $10.56 per share, indicating a year-over-year decline of 38.32%.
Shares of this Zacks Rank #5 (Strong Sell) company have gained 6.2% year to date compared with the Zacks Computer and Technology sector’s growth of 15.8% due to tough competition from giants like International Business Machines IBM and HashiCorp HCP.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Arrow Electronics recently announced that it has been chosen by Broadcom as the exclusive provider for its CloudHealth from VMware service. CloudHealth is designed to assist businesses in effectively managing finances and operations across multiple cloud environments. This partnership is expected to help ARW stay ahead of the competition.
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