Exploring High Growth Tech Stocks In November 2024

As global markets navigate a busy earnings season, the technology-oriented Nasdaq Composite and S&P MidCap 400 Index recently hit record intraday highs before experiencing sharp declines, reflecting cautious sentiment amidst mixed economic signals. Despite these fluctuations, small-cap stocks have shown resilience compared to their larger counterparts, making it crucial for investors to consider factors such as innovation potential and financial health when exploring high-growth tech stocks in today's dynamic market environment.

Top 10 High Growth Tech Companies

Name	Revenue Growth	Earnings Growth	Growth Rating
Material Group	20.45%	24.01%	★★★★★★
Yggdrazil Group	24.66%	85.53%	★★★★★★
eWeLLLtd	26.52%	27.53%	★★★★★★
Medley	24.98%	30.36%	★★★★★★
Pharma Mar	26.94%	55.09%	★★★★★★
Seojin SystemLtd	33.39%	49.13%	★★★★★★
Mental Health TechnologiesLtd	27.88%	79.61%	★★★★★★
Alkami Technology	21.90%	98.60%	★★★★★★
Alnylam Pharmaceuticals	22.17%	70.50%	★★★★★★
UTI	114.97%	134.60%	★★★★★★

Click here to see the full list of 1291 stocks from our High Growth Tech and AI Stocks screener.

Let's dive into some prime choices out of from the screener.

Chenming Electronic Tech (TWSE:3013)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Chenming Electronic Tech. Corp. is an OEM/ODM manufacturer involved in the R&D, manufacturing, and sale of computer and server cases, server chassis, mobile device components, and molds across Taiwan, China, the United States, and internationally with a market cap of NT$32.06 billion.

Operations: Chenming Electronic Tech. Corp. generates revenue primarily from the production and sales of computer and mobile device components, amounting to NT$7.64 billion. The company's operations span multiple regions, including Taiwan, China, and the United States.

Chenming Electronic Tech's recent strategic moves, including a TWD 570.05 million fixed-income offering, underscore its aggressive capital management aimed at fueling continued expansion. The company has demonstrated robust financial performance with revenue and earnings growth rates of 54.8% and 96.7% per year respectively, outpacing the broader Taiwanese market significantly. This growth is supported by high-quality earnings and a positive free cash flow status, positioning Chenming well within the competitive tech landscape despite its share price volatility over the past three months. As it continues to exceed industry growth rates, Chenming's focus on innovation and market adaptation suggests promising prospects for maintaining its upward trajectory in a rapidly evolving sector.

• Click here to discover the nuances of Chenming Electronic Tech with our detailed analytical health report.

• Evaluate Chenming Electronic Tech's historical performance by accessing our past performance report.

PCL Technologies (TWSE:4977)

Simply Wall St Growth Rating: ★★★★★☆

Overview: PCL Technologies, Inc. and its subsidiaries focus on the research, manufacturing, and sales of optical transceiver products both in Taiwan and internationally, with a market capitalization of approximately NT$8.66 billion.

Operations: PCL Technologies generates revenue primarily from the research, development, production, and sales of light mine devices, amounting to NT$775.70 million. The company operates in both domestic and international markets with a focus on optical transceiver products.

PCL Technologies recently unveiled a stark contrast in its financial trajectory with second-quarter sales plummeting to TWD 203.92 million from TWD 529.45 million year-over-year, alongside a shift from a net income of TWD 128.08 million to a loss of TWD 1.57 million. Despite these challenges, the company is poised for aggressive growth with earnings expected to surge by an impressive 162.8% annually, outstripping the broader Taiwanese market's forecast of 19.1%. This optimism is tempered by significant one-off losses totaling NT$73.3M that have skewed past financial results, underscoring the volatility and potential risk in their investment profile while highlighting substantial future revenue growth projected at 72.7% per year—far exceeding the market average of 12.3%.

• Click to explore a detailed breakdown of our findings in PCL Technologies' health report.

• Examine PCL Technologies' past performance report to understand how it has performed in the past.

Arizon RFID Technology (Cayman) (TWSE:6863)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Arizon RFID Technology (Cayman) Co., Ltd. is engaged in the design, development, manufacturing, and trading of radio-frequency identification systems across Taiwan, China, and international markets with a market capitalization of NT$19.81 billion.

Operations: Arizon RFID Technology focuses on the design, development, and manufacturing of radio-frequency identification systems, generating revenue primarily from wireless communications equipment amounting to NT$3.60 billion.

Arizon RFID Technology (Cayman) demonstrates robust growth, with second-quarter sales doubling to TWD 1.17 billion from TWD 573.1 million the previous year, and net income rising sharply to TWD 225.61 million from TWD 126.12 million. This surge is supported by a strategic focus on R&D, which is evident in their commitment to innovation; R&D expenses have consistently aligned with revenue increases, maintaining a healthy ratio that fosters sustainable advancement in RFID solutions. The company's recent earnings call highlighted these financial achievements and underscored expectations of continued strong performance driven by technological leadership and market expansion strategies.

• Get an in-depth perspective on Arizon RFID Technology (Cayman)'s performance by reading our health report here.

• Gain insights into Arizon RFID Technology (Cayman)'s historical performance by reviewing our past performance report.

Key Takeaways

• Reveal the 1291 hidden gems among our High Growth Tech and AI Stocks screener with a single click here.
• Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports.
• Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe.

Looking For Alternative Opportunities?

• 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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