Technology stocks have always been a popular choice for investors due to their potential for high returns. Keeping an eye on the top performers in the tech sector can provide valuable insights into market trends and potential opportunities for growth.
While past performance is not a guarantee of future success, many top tech stocks have consistently delivered strong returns over the years. For example, Amazon has been a standout performer in recent times, highlighting the importance of monitoring the best tech stocks for continued growth.
Here are some of the top-performing tech stocks in 2024, sourced exclusively from the Technology Select Sector SPDR Fund ETF (XLK).
Top-performing tech stocks as of July 2024
| Company and ticker symbol | Performance in 2024 |
|---|---|
| Super Micro Computer (SMCI) | 188.2% |
| Nvidia (NVDA) | 149.5% |
| Micron (MU) | 54.1% |
| CrowdStrike (CRWD) | 50.1% |
| Arista Networks (ANET) | 48.8% |
| NetApp (NTAP) | 46.1% |
| Applied Materials (AMAT) | 45.6% |
| Western Digital (WDC) | 44.7% |
| Broadcom (AVGO) | 43.8% |
| KLA (KLAC) | 41.8% |
Data as of June 28, 2024
It’s also important to keep an eye on underperforming tech stocks as they may present future opportunities. Stocks that have lagged behind in one year could bounce back in the next, making them potential candidates for growth.
Below are the worst-performing tech stocks from the same fund.
Worst-performing tech stocks as of July 2024
| Company and ticker symbol | Performance in 2024 |
|---|---|
| Intel (INTC) | -38.4% |
| EPAM Systems (EPAM) | -36.7% |
| Enphase Energy (ENPH) | -24.5% |
| Akamai Technologies (AKAM) | -23.9% |
| ON Semiconductor (ON) | -17.9% |
Data as of June 28, 2024
Performance of widely held tech stocks
Here’s a look at how some of the most popular tech stocks have fared in 2024.
| Company and ticker symbol | Performance in 2024 |
|---|---|
| Apple (AAPL) | 9.4% |
| Microsoft (MSFT) | 18.9% |
| Alphabet (GOOGL) | 30.4% |
| Amazon (AMZN) | 27.3% |
| Tesla (TSLA) | -20.4% |
| Nvidia (NVDA) | 149.5% |
Data as of June 28, 2024
Considering investments in the top tech stocks
Investing in individual tech stocks requires thorough research and understanding of the industry. For those willing to put in the effort, the potential for significant returns exists. Alternatively, investing in tech-focused mutual funds or exchange-traded funds can provide exposure to the tech sector without the need for extensive research.
Ultimately, the decision to invest in tech stocks should be based on individual risk tolerance and investment goals. As Warren Buffett famously said, “The stock market is a no-called-strike game. You don’t have to swing at everything – you can wait for your pitch.”
Editorial Disclaimer: Investors should conduct their own research before making investment decisions, as past performance is not indicative of future results.