High Growth Tech Stocks To Watch In December 2024

As global markets navigate a holiday-shortened week, U.S. stocks have shown moderate gains, with large-cap growth stocks leading the charge before giving back some of their advances later in the week. Amidst declining consumer confidence and mixed economic indicators, investors are keeping a close eye on high-growth tech stocks that demonstrate resilience and innovation potential in such fluctuating conditions.

Top 10 High Growth Tech Companies

Name	Revenue Growth	Earnings Growth	Growth Rating
Waystream Holding	22.09%	113.25%	★★★★★★
Mental Health TechnologiesLtd	25.83%	113.12%	★★★★★★
Pharma Mar	25.43%	56.19%	★★★★★★
Sarepta Therapeutics	24.07%	43.17%	★★★★★★
Alnylam Pharmaceuticals	22.34%	70.30%	★★★★★★
TG Therapeutics	34.86%	56.98%	★★★★★★
Fine M-TecLTD	36.52%	131.08%	★★★★★★
Alkami Technology	21.99%	102.65%	★★★★★★
Elliptic Laboratories	70.09%	111.37%	★★★★★★
JNTC	29.48%	104.37%	★★★★★★

Click here to see the full list of 1269 stocks from our High Growth Tech and AI Stocks screener.

We're going to check out a few of the best picks from our screener tool.

DuoLun Technology (SHSE:603528)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: DuoLun Technology Corporation Ltd. specializes in developing intelligent training, testing, and application systems for motor vehicle drivers in China with a market cap of CN¥5.86 billion.

Operations: The company generates revenue primarily through its electronic security devices segment, which contributes CN¥527.80 million.

DuoLun Technology, amidst a challenging market, is navigating its path to profitability with an expected earnings growth of 89.2% annually. Recently achieving CNY 42 million in net income from CNY 5.88 million the previous year shows a robust turnaround, particularly impressive given the broader electronic industry's modest growth of 1.9%. This performance is underpinned by strategic moves like the recent acquisition by Zhang Aoxing of a 5% stake for approximately CNY 270 million, signaling confidence in DuoLun's future prospects and stability. With revenue growth forecasted at an annual rate of 18.3%, surpassing China's average market growth of 13.7%, DuoLun is setting itself apart by effectively capitalizing on emerging tech trends and solidifying its market position through significant R&D investments and strategic partnerships.

• Take a closer look at DuoLun Technology's potential here in our health report.

• Gain insights into DuoLun Technology's historical performance by reviewing our past performance report.

iFLYTEKLTD (SZSE:002230)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: iFLYTEK CO., LTD. specializes in providing artificial intelligence (AI) technology services in China and has a market capitalization of CN¥114.57 billion.

Operations: iFLYTEK focuses on AI technology services within China, with its business model primarily generating revenue through various AI-driven products and solutions. The company leverages its expertise in speech recognition and natural language processing to cater to sectors such as education, healthcare, and smart cities.

iFLYTEK, amid a challenging fiscal year, reported a significant revenue increase to CNY 14.85 billion, up from CNY 12.61 billion, marking an annual growth rate of 15.5%. However, the company faced a net loss of CNY 343.7 million compared to the previous year’s net profit of CNY 99.36 million, reflecting volatile earnings amidst aggressive expansion efforts. This performance underscores iFLYTEK's commitment to growth through innovation and market adaptation but also highlights the financial strains associated with high R&D expenditures which have been pivotal in driving its technological advancements forward.

• Unlock comprehensive insights into our analysis of iFLYTEKLTD stock in this health report.

• Assess iFLYTEKLTD's past performance with our detailed historical performance reports.

Venustech Group (SZSE:002439)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Venustech Group Inc. offers network security products, trusted security management platforms, and specialized security services and solutions globally, with a market cap of CN¥20.04 billion.

Operations: The company's primary revenue streams include network security products and specialized security services. It operates on a global scale, providing trusted security management platforms.

Venustech Group's recent financial performance reveals a challenging landscape, with a reported net loss of CNY 210.07 million for the nine months ending September 2024, starkly contrasting last year’s net income of CNY 241.39 million. Despite these hurdles, the company is poised for recovery with projected earnings growth at an impressive rate of 33.6% annually. This optimism is tempered by its current revenue trajectory which has dipped to CNY 2,326.05 million from CNY 2,533.57 million year-over-year but still outpaces the broader Chinese market's growth rate (16.4% vs 13.7%). Venustech's commitment to innovation remains evident in its R&D strategy; however, specifics on expenditure were not disclosed in the latest reports. The firm’s ability to navigate through recent setbacks while laying groundwork for substantial earnings acceleration highlights its resilience and adaptability within the tech sector. Moving forward, Venustech must bolster its operational efficiencies and continue driving technological advancements to regain momentum and enhance shareholder value amidst competitive pressures and fluctuating market demands.

• Click to explore a detailed breakdown of our findings in Venustech Group's health report.

• Learn about Venustech Group's historical performance.

Taking Advantage

• Click this link to deep-dive into the 1269 companies within our High Growth Tech and AI Stocks screener.
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Seeking Other Investments?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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