High Growth Tech Stocks To Watch In December 2024

Over the last 7 days, the United States market has dropped 3.5%, yet it remains up by 22% over the past year with earnings forecasted to grow by 15% annually. In this context, identifying high growth tech stocks involves looking for companies that demonstrate strong innovation and adaptability to capitalize on these positive earnings forecasts despite recent market volatility.

Top 10 High Growth Tech Companies In The United States

Name	Revenue Growth	Earnings Growth	Growth Rating
Super Micro Computer	23.95%	24.32%	★★★★★★
Ardelyx	25.47%	69.63%	★★★★★★
Sarepta Therapeutics	23.98%	42.48%	★★★★★★
Alnylam Pharmaceuticals	22.34%	70.30%	★★★★★★
Clene	77.61%	59.19%	★★★★★★
TG Therapeutics	34.86%	56.98%	★★★★★★
Alkami Technology	21.99%	102.65%	★★★★★★
Travere Therapeutics	31.70%	72.51%	★★★★★★
Seagen	22.57%	71.80%	★★★★★★
ImmunoGen	26.00%	45.85%	★★★★★★

Click here to see the full list of 237 stocks from our US High Growth Tech and AI Stocks screener.

Let's explore several standout options from the results in the screener.

Akebia Therapeutics (NasdaqCM:AKBA)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Akebia Therapeutics, Inc. is a biopharmaceutical company dedicated to developing and commercializing therapeutics for kidney disease patients, with a market cap of approximately $384 million.

Operations: Akebia Therapeutics generates revenue primarily from developing and commercializing novel therapeutics for kidney disease, amounting to $169.88 million.

Akebia Therapeutics, despite being unprofitable, shows promise with a forecasted annual revenue growth of 27.1%, significantly outpacing the US market's 9.1%. This growth is underpinned by its recent FDA approval of Vafseo for treating anemia in dialysis patients, a significant milestone expected to drive future revenues upon its January 2025 launch. The company's strategic engagement at key healthcare conferences and the initiation of the VOICE trial underscore its commitment to solidifying Vafseo’s market position. However, challenges remain with a net loss widening this quarter compared to last year, emphasizing the need for careful monitoring of its financial health as it scales operations.

• Take a closer look at Akebia Therapeutics' potential here in our health report.

• Examine Akebia Therapeutics' past performance report to understand how it has performed in the past.

Aldeyra Therapeutics (NasdaqCM:ALDX)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Aldeyra Therapeutics, Inc. is a biotechnology company focused on developing and commercializing medicines for immune-mediated diseases, with a market cap of $290.60 million.

Operations: Aldeyra Therapeutics specializes in creating and marketing treatments for immune-mediated diseases. With a market capitalization of approximately $290.60 million, the company is positioned within the biotechnology sector.

Aldeyra Therapeutics has demonstrated a robust commitment to innovation in the biotech sector, particularly with its recent advancements in dry eye disease treatments. The company's resubmission of a New Drug Application for reproxalap shows promise, supported by statistically significant trial results that position it favorably for FDA approval. Despite widening net losses reported in Q3 2024, Aldeyra's strategic presentations at key healthcare conferences and its extended debt financing terms suggest a calculated approach to sustaining operations while pursuing growth. With an expected revenue surge of 55.5% annually, significantly outstripping the US market average of 9.1%, and projected earnings growth of 71.6% per year, Aldeyra is navigating its challenges with strategic initiatives that could reshape its financial landscape and bolster its market presence in upcoming years.

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

• Explore historical data to track Aldeyra Therapeutics' performance over time in our Past section.

Infinera (NasdaqGS:INFN)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Infinera Corporation manufactures semiconductors and supplies networking equipment, optical semiconductors, software, and services globally with a market capitalization of approximately $1.56 billion.

Operations: The company generates its revenue primarily from the sale of optical transport networking equipment, software, and related services, amounting to $1.46 billion.

Infinera, amid a challenging fiscal period with a reported revenue decrease to $354.4 million in Q3 2024 from $392.37 million the previous year, continues to innovate in high-capacity optical networks. Despite its current unprofitability and a net loss increase to $124 million over nine months, the company is poised for recovery with strategic client engagements like Converge ICT Solutions for the Bifrost Cable System and Poka Lambro's regional network upgrade in Texas. These partnerships leverage Infinera’s advanced ICE7 technology, enhancing long-distance data transmission capabilities and supporting substantial infrastructure projects. This positions Infinera uniquely within tech sectors reliant on robust data handling capacities, forecasting an annual revenue growth of 9.7%, potentially outpacing the broader US market's growth rate of 9.1%.

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

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

Taking Advantage

• Take a closer look at our US High Growth Tech and AI Stocks list of 237 companies by clicking here.
• Are you invested in these stocks already? Keep abreast of every twist and turn by setting up a portfolio with Simply Wall St, where we make it simple for investors like you to stay informed and proactive.
• Discover a world of investment opportunities with Simply Wall St's free app and access unparalleled stock analysis across all markets.

Ready To Venture Into Other Investment Styles?

• 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com