There is a lot of money in technology right now. There is no denying that. The technology sector consists of businesses that sell goods and services in software, computers, electronics. This also includes artificial intelligence (AI) and other industries that are related to information technology (IT). The tech sector is also comprised of companies with the largest market capitalizations in the world. For example, Microsoft Corp., Apple Inc., and Amazon.com Inc.
Tech stocks that are represented by the Technology Select Sector SPDR ETF (XLK) have outperformed the broader market. They have had a total return of 87.7%, above the Russell 1000’s total return of 83.1% over the past year. Here are the top tech stocks with the best value, fastest growth, and the most momentum at the current moment. In addition, if you want to read more about tech stocks, read this article by Sure Dividend.
Best Value Tech Stocks
First and foremost, value investing is a factor-based investing strategy in which you pick stocks that you think are trading for less than what they are worth. You do this by measuring the ratio of the stock’s price to one or more fundamental business metrics such as the price-to-earnings ratio (P/E Ratio). Value investors believe that if a business is cheap compared to its intrinsic value, the stock price could possibly rise faster than others as the price comes back in line with the worth of the company. Here are some examples:
Vontier is a global industrial technology company with a focus on mobility and smart transportation. They specialize in areas like mobility technologies, retail, and commercial fueling, fleet management, and vehicle diagnostics and maintenance. As a result, they have more than 8,300 employees in over 150 locations around the world.
They provide IT supply chain services to the tech industry. This includes distribution, integration, and logistics services. They distribute over 30,000 tech products from manufacturers around the world. Also, they provide solutions to more than 20,000 resellers and customers. They recently announced a merger with Tech Data Corp., a wholesale tech distributor. The merger deal was valued at $7.2 billion, including net debt, and is expected to close later this year.
Intel designs and manufactures computer components and related products. This includes chipsets, server products, processors, memory, and storage. Their products are designed for a range of emerging and traditional computing technologies. For example, 5G networks, cloud computing, and AI. The company recently announced its plan to increase its semiconductor manufacturing capacity. They will invest about $20 billion which could help alleviate the semiconductor storage happening right now.
Fastest Growing Tech Stocks
These are the top tech stocks, ranked based on their most recent quarterly year-over-year (YOY) percentage revenue growth. Their most recent quarterly YOY earnings-per-share (EPS) growth. Both sales and earnings are essential. This is why ranking companies by only one growth metric makes a ranking susceptible to the accounting anomalies of that quarter that could make one figure or more unrepresentative of the business in general.
Advanced Micro Devices Inc.
They are a global semiconductor company that sells chipsets, graphic processing units (GPUs), microprocessors, development services, technology for game consoles, and server and embedded processors.
They are a financial services and online payments company, providing merchants with hardware solutions for processing credit and debit card transactions, point of sale, and other payment and business-management software. The company also gives a Cash App for individual consumers so they can easily send and receive money and other financial services. At the end of last year, they had over 210 million buyer profiles and about 295 million items listed by sellers. Square announced in March that it had completed the charter approval process with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Services. Their approval for the charter is conditional on its bank maintaining a high level of capital than other banks.
They provide IT infrastructure management software. Their products enable enterprises to monitor and manage the performance of their IT environments in the cloud, via hybrid models, or on-premises. They are currently being investigated by several government agencies after their software was compromised last year in a cyberattack by suspected Russian hackers. They had infected software developed by SolarWinds with malicious code, compromising critical systems of the long list of major U.S. corporations, small companies, and a number of government agencies.
Aspen Technology Inc.
They make software that enables customers to better operate, design, and maintain their complex manufacturing environments. They are currently developing AI solutions to embed throughout industrial manufacturing environments.
Tech Stocks with the Most Momentum
Momentum investing is a factor-based investing strategy where you invest in a stock whose price has risen faster than the overall market. These investors think that stocks that have outperformed the market will continue to do so. Their reasoning is that the factors that cause them to outperform will not suddenly disappear. Others seek to benefit from the stock’s outperformance and will often buy the stock and bid it at higher prices.
Enphase Energy Inc.
They are a renewable energy company that designs and manufactures solar panels, energy storage, and other products. They announced in early February that they had agreed to acquire the Solar Design Services business of DIN Engineering Services LLP. The financial terms of the transaction were not disclosed.
HubSpot Inc. sells cloud-based marketing and sales software to corporate customers. They offer customer relationship management (CRM), content management software (CMS), marketing and sales, and other business management solutions. They serve more than 100,000 customers in over 120 countries. The comapny announced in mid-February that they will acquire The Hustle, a media company that produces a podcast, newsletter, and premium research content.
The Trade Desk Inc.
They offer a cloud-based platform that enables customers to create, optimize, and manage more expressive data-driven digital advertising campaigns. Markets can use the platform to tailor ad campaigns across ad formats like video, display, audio, native, and social. They announced in mid-January that they appointed Michelle Hulst who had previously served as Trade Desk’s executive vice president of Global Data and Strategy, to CFO.
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