High Growth Tech Stocks To Watch: A Trio Of Promising Picks

As global markets grapple with economic slowdown fears and a notable decline in the S&P 500, investors are increasingly cautious about their portfolios. Amid this backdrop, identifying high-growth tech stocks that can weather market volatility becomes crucial for potential long-term gains.

Top 10 High Growth Tech Companies

Name	Revenue Growth	Earnings Growth	Growth Rating
TG Therapeutics	28.39%	43.54%	★★★★★★
Clinuvel Pharmaceuticals	22.41%	27.42%	★★★★★★
Seojin SystemLtd	33.61%	52.05%	★★★★★★
eWeLLLtd	26.52%	27.53%	★★★★★★
Scandion Oncology	40.71%	75.34%	★★★★★★
KebNi	34.75%	86.11%	★★★★★★
Adveritas	57.98%	144.21%	★★★★★★
Adocia	59.08%	63.00%	★★★★★★
Travere Therapeutics	26.72%	68.41%	★★★★★★
UTI	114.97%	134.61%	★★★★★★

Click here to see the full list of 1284 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.

Core Scientific (NasdaqGS:CORZ)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Core Scientific, Inc. provides digital asset mining services in North America and has a market cap of $2.58 billion.

Operations: Core Scientific generates revenue primarily through its Digital Asset Self-Mining Segment ($455.93 million) and Digital Asset Hosted Mining Segment ($113.78 million). The company operates within the digital asset mining industry in North America.

Core Scientific's projected annual revenue growth of 21.2% outpaces the broader US market, which stands at 8.6%. With earnings expected to surge by 104% annually, the company's strategic partnerships, such as the $2 billion contract with CoreWeave for high-performance computing infrastructure, bolster its future prospects. Despite a net loss of $804.9 million in Q2 2024 and volatile share prices recently, Core Scientific's emphasis on R&D and innovative contracts positions it for substantial growth in AI and blockchain sectors.

• Click here to discover the nuances of Core Scientific with our detailed analytical health report.

• Understand Core Scientific's track record by examining our Past report.

DigitalOcean Holdings (NYSE:DOCN)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: DigitalOcean Holdings, Inc. operates a cloud computing platform across North America, Europe, Asia, and other international markets with a market cap of $3.58 billion.

Operations: DigitalOcean Holdings, Inc. generates revenue primarily from its Internet Software & Services segment, which reported $735.14 million in revenue. The company operates internationally across North America, Europe, and Asia through its cloud computing platform.

DigitalOcean Holdings has shown a notable shift in profitability, reporting $19.14 million in net income for Q2 2024 compared to $0.67 million a year ago, reflecting a strong upward trajectory. The company’s R&D expenses have been pivotal, with significant investments contributing to their innovative updates like the role-based access control (RBAC) system. Revenue projections of $770 million to $775 million for 2024 indicate steady growth at 12.4% annually, while earnings are expected to rise by 28.1%, outpacing the broader US market's forecasted growth rate of 15%.

• Get an in-depth perspective on DigitalOcean Holdings' performance by reading our health report here.

• Review our historical performance report to gain insights into DigitalOcean Holdings''s past performance.

Chroma ATE (TWSE:2360)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Chroma ATE Inc. designs, assembles, manufactures, sells, repairs, and maintains a range of software and hardware products for computers and peripherals as well as automatic test systems and electronic instruments across Taiwan, China, the United States, and internationally with a market cap of NT$137.28 billion.

Operations: Chroma ATE Inc. generates revenue primarily from its Measuring Instruments Business, which contributes NT$29.52 billion, and Automated Transport Engineering, contributing NT$1.58 billion. The company's operations span Taiwan, China, the United States, and internationally.

Chroma ATE's recent financial performance highlights its robust growth trajectory, with Q2 2024 revenue reaching TWD 5.52 billion, up from TWD 4.42 billion a year ago. The company's net income surged to TWD 1.41 billion compared to TWD 1.02 billion last year, reflecting a significant improvement in profitability. R&D expenses have been substantial, contributing to innovative advancements and maintaining their competitive edge; this is evident as earnings are forecasted to grow at an impressive annual rate of 21.1%. With a focus on high-quality earnings and expected revenue growth of 14.1% annually, Chroma ATE continues to solidify its position in the tech sector despite industry volatility.

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

• Gain insights into Chroma ATE's historical performance by reviewing our past performance report.

Turning Ideas Into Actions

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Searching for a Fresh Perspective?

• 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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