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Home Economy Finance

Best-Performing Tech Stocks in September 2023

by Techeconomy
September 11, 2023
in Finance
0
best-performing tech stocks
best-performing tech stocks

best-performing tech stocks

UBA
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Writer: TOLULOPE OLANIYI

Technology stocks have long been a hot topic in the world of investments. Investors are drawn to this sector due to its history of delivering impressive returns and its potential for future growth.

While past performance doesn’t guarantee future success, it’s still worthwhile to keep an eye on the best-performing tech stocks to identify trends and opportunities.

In 2023, several tech stocks have emerged as top performers. According to Bankrate, a trusted financial resource that assists individuals in navigating their financial journeys, these stocks are part of the Technology Select Sector SPDR Fund ETF (XLK), and they have demonstrated remarkable growth over the course of the year. According to the platform, some of the best-performing tech stocks as of September 2023:

NVIDIA (NVDA): This graphics processing unit (GPU) manufacturer has seen an astonishing performance increase of 237.7% in 2023, making it one of the standout tech stocks.

Palo Alto Networks (PANW): With a growth rate of 74.4%, Palo Alto Networks has also had an impressive year, focusing on cybersecurity solutions.

  • Lam Research (LRCX): Lam Research, a semiconductor equipment manufacturer, boasts a 67.1% growth rate in 2023.
  • Salesforce (CRM): Salesforce, a leading customer relationship management (CRM) software provider, has seen its stock rise by 67.0%.
  • Adobe (ADBE): Adobe, known for its creative software products, has experienced a growth rate of 66.2%.
  • Broadcom (AVGO): Broadcom, a semiconductor and infrastructure software company, has shown a growth rate of 65.1%.
  • Advanced Micro Devices (AMD): This semiconductor company has seen its stock value increase by 63.2%.
  • Arista Networks (ANET): Arista Networks, specializing in cloud networking solutions, has achieved a growth rate of 60.9%.
  • ON Semiconductor (ON): With a growth rate of 57.9%, ON Semiconductor focuses on energy-efficient semiconductor solutions.
  • Applied Materials (AMAT): Applied Materials, a leader in materials engineering solutions, has shown a growth rate of 56.9%.

While these top performers offer exciting potential, it’s essential to keep an eye on tech stocks that may be currently underperforming. Sometimes, a stock’s underperformance could be a result of previous rapid growth, requiring time for both investors and the underlying business to adjust.

These stocks could regain their appeal in the future.

According to the financial resource, here are some of the worst-performing tech stocks as of September 2023:

  • Enphase Energy (ENPH): This solar energy solutions provider has seen a decrease of -52.2% in its stock value.
  • SolarEdge Technologies (SEDG): SolarEdge Technologies, specializing in solar power optimization and inverters, has experienced a -42.6% decline.
  • Keysight Technologies (KEYS): Keysight Technologies, a technology company focused on electronic measurement solutions, has shown a decrease of -22.1%.
  • DXC Technology (DXC): DXC Technology, an IT services and solutions provider, has experienced a -21.7% decline.
  • EPAM Systems (EPAM): EPAM Systems, a global product development and digital platform engineering company, has seen a -21.0% decrease.

For investors looking to participate in the tech industry’s growth without diving into individual stocks, there are alternatives. Consider investing in mutual funds or exchange-traded funds (ETFs) that focus on the technology sector. These funds provide exposure to a diversified collection of tech stocks, reducing risk and offering the potential for solid returns.

*Editorial Disclaimer: All investors should conduct thorough research into investment strategies and past performance before making investment decisions. Past performance is not a guarantee of future price appreciation.

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    Techeconomy

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