The stock indexes are generating 30% returns for the year. So it is a special time for all the investors. It is nothing like a surprise to hear that technology is the best-performing sector. It is rising 48% year to date and turning in the best performance over a decade.
Some analysts are already noticing the tech bull market continuing into 2020 and it is driven by the advent of 5G networks. It will push chipmakers and smartphone manufacturers to new heights.
So without much ado, here are the top 10 best-performing tech stocks of 2019.
The year 2019’s big tech winner was Cardlytics. It is a credit card analytics company. It takes anonymized debit, credit, and bill-pay data from banking customer accounts, and then partners with marketers to fashion online and mobile rewards-marketing campaigns. It has relationships with more than 20 financial institutions. Bank of America represents nearly 50% of its revenue in the U.S region.
Enphase Energy (466%)
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Enphase Energy makes solar panel microinverters. It benefited while China’s Huawei exited the market because of security questions during escalating trade tensions. Its business was already soaring because its microinverters and AC modules simplify solar panel installation and design. It has already installed 1 million microinverter-based solar systems.
Diebold Nixdorf (340%)
Diebold Nixdorf is arguably best known for its ATMs at banks. It ran a path to 340% stock gain for the year and has been predicated on a lot of double-digit gains and losses.
Earnings announcements either exceeded or grossly missed analyst expectations. It has products like K-two kiosk system which helps retailers enhance their in-store experience. Diebold offers product information, ticket and lottery sales, and even self-checkouts.
Digital Turbine (304%)
Digital Turbine is a platform that offers wireless carriers ways to monetize their mobile content by introducing product features. It is aimed on the improvement of conversion and engagement on mobile ads. It relies basically upon Verizon and AT&T for the bulk of its revenue, accounting for 46% and 39% of the total, respectively.
Recently, it is more concentrating to scale its platform internationally, recruiting global carriers and OEMs to expand its global addressable market.
Sea Limited (247%)
Sea Limited is a Southeast Asian gaming and e-commerce company that licenses games from publishers like Tencent and Activision Blizzard. It also producing first-party games like Free Fire.
Ad tech specialist Telaria recorded its first quarter of positive EBITDA this year as connected TV ads served through the company’s video management platform. It has benefited from the growth of programmatic ad buying.
Telaria got another boost two weeks ago. Telaria and Rubicon Project agreed to merge and create the world’s largest independent sell-side advertising platform.
Shopify is a Cloud-based commerce leader which has cashed in on the boom in e-commerce. It is providing merchants with the tools that they want to create an immersive shopping experience for customers. It is branching out into order fulfillment and acquiring a leading provider of collaborative warehouse-fulfillment solutions. Shopify is still recording all the significant losses.
Snap is a company that does not reliant on 5G networks. The social media camera company once looked to be reeling out of control due to user’s defections from its Snapchat app.
Most of those gains came early in the year. It appeared to stabilize daily average users and found new ways to make money. Then back half of the year has only seen 12% gains in its shares as conservative guidance gave investors pause again.
Lattice Semiconductor (178%)
Lattice Semiconductor manufactures field-programmable gate arrays which are used in 5G wireless infrastructure.
Lattice is expecting the coming year to bring more of the same by Communications and computing components accounting for almost a third of its revenue.
Ultra Clean Holdings (176%)
Ultra Clean Holdings is a maker of semiconductor manufacturing equipment. It is one of the beneficiaries of the race to 5G that should increase spending on semiconductor capital equipment.
Ultra Clean business relies on two primary customers, Lam Research and Applied Materials, accounting for about 60% of revenue. In 2019, with shares of those two up 115% and 86%, respectively, it’s not surprising their coattails carried Ultra Clean too.