“Poor people save, rich people invest.” Have you ever heard of the quote by Robert Kiyosaki? It’s time to implement it and invest in technology stocks. Technology stocks are always a favorite zone for investors because of their high returns and interest rates. Investing in top technology stocks is always a smart move, as they continue to excel in areas like artificial intelligence, online security, and clean energy. The rise in Amazon’s stock price from $84 to over $180 in 2023 exemplifies it well.
In this blog, you will learn about the top technology stocks that are expected to perform well and give high returns in 2024.
1. Nvidia (NVDA)
Nvidia (NVDA) tops the list of top technology stocks to invest in 2024. It is popular for making powerful graphic cards and AI technology that are used in gaming, data centers, and machine learning.
1. Performance of stock
Nvidia’s (NVDA) stock price has increased from $150 to over $300 in 2023, so you can expect the stock to perform well in 2024.
2. Investment tip
This can become a strong technology stock investment for you if you’re interested in AI and high-performance computing.
2. GoDaddy (GDDY)
GoDaddy ranks second on the list of top technology stocks to invest in 2024. It is the major player in domain registration, web hosting, and online presence management, serving millions of customers globally.
1. Performance of stock
The growth of the stock price of GoDaddy has increased rapidly from $70 to $90 in 2023. It reflects the stable position of the company and its service quality.
2. Investment tip
You can consider investing in the company if you’re interested in digital infrastructure. Its growth in stock price in 2023 makes it a reliable investment.
3. Super Micro Computer (SMCI)
Super Micro Computer is popular for providing high-performance server and storage solutions to users. This can become one of the best top technology stocks to invest in if you’re interested in data center technology.
1. Performance of stock
In 2023, the company stock price increased from $60 to $120. The growth in the price indicates increasing demand for data center technology and innovative products.
2. Investment tip
Don’t rely on the past performance of the stock price; performance may change when you’re reading this. Make sure to check the current performance graph before investing.
4. Arista Networks (ANET)
Arista Networks is popular for providing the products essential for high-speed networking. If you’re someone interested in networking and data center infrastructure, you can go with Arista Networks’ top technology stocks.
1. Performance of stock
In 2023, Arista Networks stock climbed from $120 to $180. This rise in stock value shows the demand for strong networking technology.
2. Investment tip
The investment tip is the same as for other stocks: analyze first, and then purchase. You can buy this stock if you want to watch the growth of cloud computing and networking.
5. Monolithic Power Systems (MPWR)
Monolithic Power Systems (MPWR) are popular for designing and manufacturing analog mixed semiconductors that are used in multiple electronic devices.
1. Performance of stock
In 2023, the company stock price climbed from $400 to $550, which represents the heavy demand for power management solutions products.
2. Investment tip
You can invest in the company if you’re interested in semiconductor technology. This will also help you understand how the performance graph of the company increases with innovations in semiconductor devices.
6. Motorola Solutions (MSI)
Motorola Solutions (MSI) is popularly known for offering communication technology used in public safety and enterprise sectors. Radios and software solutions are the key examples.
1. Performance of stock
In comparison to other years, 2023 has brought lots of changes in the stock price of the company. The stock price increased from $250 to $300.
2. Investment tip
Same as 2023, you can expect growth in 2024 as well. But don’t rely on it; always make sure to check the performance of the stock before investing. These top technology stocks can become a better choice to buy if you’re interested in communication technology.
7. Tyler Technologies (TYL)
Tyler Technologies (TYL) ranks last on the list of top technology stocks to invest in. It provides software for public-sector entities to create smarter, safer, and stronger communities. The software helps in managing city operations, improving public safety, handling court cases, and running schools smoothly.
1. Performance of stock
In 2023, the stock price has grown from $350 to $450, which shows how frequently the company has expanded its client base and growth.
2. Investment tip
This can become a good choice for you if you’re interested in public sector software solutions. The major tip before investing in the stock and playing safe with your money – analyze the stock performance in the market before investing.
Note: Fluctuations in the stocks are very common. So, it would be better for you to play safe with your money and invest only after analyzing the performance graph for at least up to one year. Depending on the size of the stocks, prices change. You can understand it this way: the price at the time of investment may differ from the time of reading. Select your stock wisely!
Conclusion
In today’s world, the biggest mistake you make is relying on a single source of income to gain financial freedom. You can only complete your needs, but to truly thrive, you must focus on long-term plans and start investing. The performance of the above-top technology stocks has been carefully observed and then listed accordingly. You can invest your money, but make sure to analyze the performance first.
