Five high-growth tech stocks to watch in 2022

Highlights

• The revenue of Advanced Micro Devices, Inc. (NASDAQ: AMD) rose 54% YoY in Q3, FY21.
  
  
• Nvidia Corporation’s (NASDAQ: NVDA) stock value grew over 149% YTD.
  
  
• The Upstart Holdings, Inc’s (NASDAQ: UPST) stock price surged over 371% YTD.

The technology sector has been on investors' radar lately. The Covid-19 pandemic has helped accelerate the digitalization of the work processes, helping in its growth. In addition, demand for technology products like semiconductors helped improve sales.

Here are five technology stocks that are likely to continue their growth momentum in 2022.

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Advanced Micro Devices, Inc. (NASDAQ: AMD)

Advanced Micro Devices is a semiconductor manufacturer based in Santa Clara, California, and develops computer processors and other related technologies for its clients.

The stock was priced at US$154.76 at 1:25 pm ET on November 26, down 0.03% in after-market trading. The AMD stock rose 70.96% YTD.

Its market cap is US$186.35 billion, the P/E ratio is 47.78, and the forward P/E one year is 66.03. Its EPS is US$3.23. The stock saw the highest price of US$161.88 and the lowest price of US$72.50 in the last 52 weeks. Its share volume on November 24 was 60,677,060.

The company's revenue surged 54% YoY to US$4.31 billion in Q3, FY21. Its net income came in at US$923 million, compared to US$390 million in the year-ago quarter.

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Nvidia Corporation (NASDAQ: NVDA)

Nvidia is a technology company based in Santa Clara, California. It designs GPUs for gaming and other related industries.

The shares of the company traded at US$314.625 at 1:32 pm ET on November 26, down 0.13% in after-market trading. Its stock value increased by 149.16% YTD.

The firm has a market cap of US$787.57 billion, a P/E ratio of 97.08, and a forward P/E one year of 90.26. Its EPS is US$3.25. The 52-week highest and the lowest stock prices were US$346.47 and US$115.67, respectively. Its trading volume was 43,516,230 on November 24.

The firm reported a record revenue of US$7.10 billion in Q3, FY22, up 50% YoY. On a GAAP basis, its net income came in at US$2.46 billion, compared to US$1.33 billion in Q3, FY21.

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Microsoft Corporation (NASDAQ: MSFT)

Microsoft is one of the world’s leading technology companies. It produces computer software, consumer electronics, and provides related services. It is based in Redmon, Washington.

Its stock was priced at US$330.10 at 1:37 pm ET on November 26, up 0.13% in after-market trading. The MSFT stock ticked up 55.23% YTD.

The market cap of the company is US$2.47 trillion, the P/E ratio is 36.88, and the forward P/E one year is 36.89. Its EPS is US$8.94.

The stock saw the highest price of US$349.67 and the lowest price of US$209.11 in the last 52 weeks. Its share volume on November 24 was 21,661,310.

The company's revenue surged 22% YoY to US$45.3 billion in Q1, FY22. Its GAAP net income came in at US$20.5 billion, up 48% YoY, while its non-GAAP net income jumped 24% YoY to US$17.2 billion.

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Upstart Holdings, Inc. (NASDAQ: UPST)

Upstart is based in San Mateo, California. It provides an AI lending platform to clients.

The shares of the company traded at US$208.95 at 1:46 pm ET on November 26, down 0.22% in after-market trading. Its stock value jumped 371.93% YTD.

The firm has a market cap of US$17.16 billion, a P/E ratio of 261.76, and a forward P/E one year of 201.55. Its EPS is US$0.80. The 52-week highest and the lowest stock prices were US$401.49 and US$22.61, respectively. Its trading volume was 4,320,503 on November 24.

The company's revenue soared 250% YoY to US$228 million in Q3, FY21. Its adjusted net income came in at US$57.4 million, compared to US$12.3 million in Q3, FY20.

The firm now expects its revenue to be between US$255 million and US$265 million in Q4, FY21. It expects its net income to be between US$16 million and US$20 million, while its adjusted net income is expected to be between US$48 million and US$50 million.

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Source: Pixabay

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Alphabet Inc. (NASDAQ: GOOGL)
Alphabet is a leading global technology company based in Mountain View, California. It is the parent company of Google.

Its stock was priced at US$2844.11 at 1:50 pm ET on November 26, up 0.02% in after-market trading. The GOOGL stock surged 69.3% YTD.

Its market cap is US$1.88 trillion, the P/E ratio is 27.39, and the forward P/E one year is 27.10. Its EPS is US$103.84. The stock saw the highest price of US$3,019.33 and the lowest price of US$1,694.00 in the last 52 weeks. Its share volume on November 24 was 902,007.

Its revenue increased by 41% YoY to US$65.11 billion in Q3, FY21. Its net income came in at US$18.93 billion, or US$27.99 per diluted share, compared to US$11.24 billion, or US$16.40 per diluted share in Q3, FY20.

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Bottomline

The S&P 500 information technology sector surged 30.33% YTD while increasing 13.81% QTD.

Despite challenges, the technology sector is expected to continue its growth momentum next year. Investors, however, should analyze the companies carefully before investing in stocks.