HomeMarket NewsThe 3 Best Tech Stocks to Buy in April 2024

The 3 Best Tech Stocks to Buy in April 2024

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The Top Technology Stocks for Savvy Investors in April 2024

The Tech Boom in the Stock Market

As the technology industry surges forward, it has left many other sectors in its wake, propelling the S&P 500 to new heights. With a growth rate of 37% in the past year, the Technology Select Sector SPDR Fund has set a high bar for the industry. Innovations like generative AI, cloud computing, and increased semiconductor production have paved the way for extraordinary profits.

Super Micro Computer: A Powerhouse in Technology Infrastructure

In this photo illustration, the Super Micro Computer, Inc. (SMCI) logo seen displayed on a smartphone screen

Super Micro Computer (NASDAQ: SMCI) specializes in cutting-edge technology infrastructure, providing a range of storage and server systems for various applications. Boasting a remarkable ninefold stock growth in the past year, the company has captured the attention of investors drawn to its innovative offerings in cloud computing and generative AI.

Reporting a stellar second-quarter fiscal year 2024 performance, SMCI saw a doubling of total revenue to $3.7 billion. With a projected revenue between $3.7 billion and $4.1 billion for the third quarter, the company’s upward trajectory seems unstoppable, further solidified by its recent inclusion in the S&P 500.

AppLovin: Leading the Way in Application Software

AppLovin (APP) logo and page displayed on phone and computer screen

AppLovin (NASDAQ: APP) is a standout in the application software arena, offering an innovative advertising infrastructure platform. With a share price quadrupling over the past year, the company’s strong foothold in generative AI promises continued growth and profitability.

Impressive fourth-quarter 2023 results showcased significant revenue growth and earnings surpassing analyst expectations. Additionally, a substantial $570 million share buyback program demonstrates the company’s confidence in its future performance.

ACM Research: Revolutionizing Semiconductor Equipment

a magnifying glass enlarges the ACM logo on a website

ACM Research (NASDAQ: ACMR) stands out as a leading producer of semiconductor-related equipment, offering cutting-edge wafer cleaning and electrochemical plating technology. Despite being undervalued relative to peers, the company’s remarkable growth in the past year has garnered attention.

Following a fourth-quarter fiscal year 2023 earnings report that surpassed expectations by a significant margin, ACMR’s share price soared by over 40%. With revenue guidance for 2024 exceeding $650 million, the company is well-positioned for sustained growth.

More Insights from InvestorPlace

The post The 3 Best Tech Stocks to Buy in April 2024 appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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