High Growth Tech Stocks To Watch This December 2024

As the year draws to a close, global markets have experienced a mix of gains and setbacks, with U.S. consumer confidence dipping in December and major stock indexes showing moderate progress despite some mid-week declines. In this fluctuating environment, identifying high growth tech stocks involves looking for companies that can capitalize on technological advancements and maintain resilience amid economic uncertainties.

Top 10 High Growth Tech Companies

Name	Revenue Growth	Earnings Growth	Growth Rating
Yggdrazil Group	30.20%	87.10%	★★★★★★
eWeLLLtd	26.41%	28.82%	★★★★★★
Ascelia Pharma	76.15%	47.16%	★★★★★★
Medley	25.57%	31.67%	★★★★★★
Mental Health TechnologiesLtd	25.83%	113.12%	★★★★★★
Alnylam Pharmaceuticals	22.34%	70.30%	★★★★★★
Fine M-TecLTD	36.52%	131.08%	★★★★★★
Alkami Technology	21.99%	102.65%	★★★★★★
Initiator Pharma	73.95%	31.67%	★★★★★★
Travere Therapeutics	31.70%	72.51%	★★★★★★

Click here to see the full list of 1270 stocks from our High Growth Tech and AI Stocks screener.

We'll examine a selection from our screener results.

CASTECH (SZSE:002222)

Simply Wall St Growth Rating: ★★★★★☆

Overview: CASTECH Inc. focuses on the research, development, production, and sale of crystal components, precision optical components, and laser devices primarily in China with a market cap of CN¥15.93 billion.

Operations: The company generates revenue primarily from the optoelectronics industry, amounting to CN¥850.99 million.

CASTECH Inc. has demonstrated a robust trajectory in its financial performance, with a notable increase in sales to CNY 665.11 million from CNY 595.75 million year-over-year and an uptick in net income to CNY 168 million from CNY 163.64 million. This growth is underpinned by significant R&D investment, aligning with the industry's shift towards advanced technologies that ensure sustainable revenue streams through innovation. Moreover, the company's recent declaration of a cash dividend reflects its commitment to shareholder returns amidst this growth phase, signaling confidence in its financial health and future prospects.

• Navigate through the intricacies of CASTECH with our comprehensive health report here.

• Learn about CASTECH's historical performance.

Shenzhen Sunway Communication (SZSE:300136)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Shenzhen Sunway Communication Co., Ltd. focuses on the research, development, manufacture, and sale of antennas, wireless charging modules, precision connectors and cables, passive components, and EMC/EMI solutions both in China and internationally with a market cap of CN¥25.19 billion.

Operations: Sunway Communication generates revenue primarily from its electronic components segment, amounting to CN¥8.35 billion. The company operates in both domestic and international markets, offering a range of products including antennas and wireless charging modules.

Shenzhen Sunway Communication has marked a significant uptick in its financial metrics, with revenue climbing to CNY 6.39 billion, up from CNY 5.59 billion the previous year, and net income rising to CNY 533.24 million from CNY 517.32 million. This growth is supported by a robust R&D focus, where the company invests significantly in innovation—key in sustaining competitive advantage in the tech sector. Moreover, their recent activities including presenting at Electronica Europe and completing a share repurchase of 1.56% for CNY 268.02 million underscore their proactive market engagement and shareholder value enhancement strategies amidst growing earnings forecasts of 31.9% annually.

• Click to explore a detailed breakdown of our findings in Shenzhen Sunway Communication's health report.

• Explore historical data to track Shenzhen Sunway Communication's performance over time in our Past section.

TRS Information Technology (SZSE:300229)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: TRS Information Technology Co., Ltd. offers software, artificial intelligence, big data, and data security products and services in China with a market capitalization of CN¥17.87 billion.

Operations: TRS Information Technology Co., Ltd. generates revenue through its offerings in software, artificial intelligence, big data, and data security sectors within China. The company's financial performance is highlighted by its market capitalization of CN¥17.87 billion.

TRS Information Technology has demonstrated robust financial growth, with a notable increase in revenue from CNY 601.38 million to CNY 619.14 million year-over-year and a surge in net income from CNY 22.86 million to CNY 44.44 million, reflecting an earnings growth of approximately 94%. This performance is underpinned by significant R&D investments, aligning with industry trends towards enhanced digital solutions and innovation-driven market positioning. Recently, the company also engaged in strategic activities including a substantial private placement raising nearly CNY 890.37 million, aimed at fueling further technological advancements and market expansion initiatives.

• Dive into the specifics of TRS Information Technology here with our thorough health report.

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

Taking Advantage

• Unlock our comprehensive list of 1270 High Growth Tech and AI Stocks by clicking here.
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Curious About Other Options?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

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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