Loading... Please wait...
The tech market tends to fall into two categories: Massive companies that are household names and smaller businesses that don’t generate as much buzz. If you want to get into tech, here are two growth stocks you might not have considered.
You may have spent some time on Pinterest, the unique social media platform that allows you to curate your own pinboards. But did you know that it’s actually become a major player in the tech sector? Pinterest had a moment during the COVID-19 pandemic, when stay-at-home orders drove people to spend more time online. But growth was sluggish afterwards, and many investors were ready to write off the company as a fad. However, Pinterest has recently accelerated, experiencing phenomenal growth in both monthly active users (MAUs) and average revenue per user (ARPU) over the past few quarters. Driven by both overseas expansion and a huge influx of Gen Z users, this growth seems poised to last.
Axcelis
Axcelis is one of those behind-the-scenes companies that’s doing excellent work without ever gaining name recognition. Its focus is on ion implantation, specifically the insertion of carbon ions into silicon. This creates silicon carbide (SiC), which is powering the next generation of silicon chips.
Axcelis is down nearly 40% from last year’s all-time high. But that’s mostly due to cyclical market pressures, including a softening of the memory chip market and lowered demand for electric vehicles. Both of those markets are starting to gain steam, and many analysts believe that Axcelis is well-positioned for speedy growth over the next months and years.
Nothing is ever guaranteed, and tech stocks can be notoriously fickle. But both Pinterest and Axcelis have solid business models and growth strategies that are pointing them in the right direction. If you have wanted to get into tech, but aren’t interested in the biggies, either of these companies could be a smart buy.
Neither Lisa Fritscher nor Stocks.News have positions in the companies mentioned in this article.
Did you find this insightful?
Bad
Just Okay
Amazing
Disclaimer: Information provided is for informational purposes only, not investment advice. We do not recommend buying or selling stocks. Stock price discussions are based on publicly available data. Readers should conduct their own research or consult a financial advisor before investing. Owners of this site have current positions in stocks mentioned thru out the site, Please Read Full Disclaimer for details Here https://app.stocks.news/page/disclaimer
Contributing Writer
Lisa Fritscher has been a contributing writer for App.Stock.News since 2024. Lisa has been interested in investing since winning The Stock Market Game in high school. In more than a decade as a professional writer, she has written consumer-facing financial information and advice articles for a wide variety of publications. She has a Bachelor of Arts in Psychology from the University of South Flori...
