Tech stocks with over 100% YTD returns driven by AI and semiconductor growth, positive.

From Nasdaq: 2024-11-27 02:39:00

Zacks.com highlighted 4 tech stocks with over 100% returns YTD, driven by AI demand and semiconductor growth. Nasdaq Composite surged 26% YTD, with AMSC, VRT, TOST, and PI showing strong performance. AI spending is projected to hit $297 billion by 2027, fueling tech sector growth.

AMSC secured $60 million in new orders, boosted by the NWL acquisition and AI data center demand. Vertiv’s strong order growth led to a backlog of $7.4 billion, with revenue expectations of $7.78-7.83 billion for 2024. Toast’s expansion and customer adoption drove significant revenue growth.

Impinj’s revenue surged 67% from Endpoint ICs segment, with a focus on scalable RFID solutions. The company is expanding into the food tagging sector, expecting substantial growth. All 4 stocks have Growth Scores of A or B and Zacks Rank #1, making them attractive investments. AI spending is expected to double by 2028, with enterprises leading the charge in embedding AI capabilities. Deloitte predicts a rise in AI Agent adoption by 2027.



Read more at Nasdaq: The Zacks Analyst Blog Microsoft, American Superconductor, Vertiv, Toast and Impinj