High Growth Tech Stocks To Watch In October 2024
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Over the last 7 days, the United States market has risen 1.1%, and over the past 12 months, it is up 32%, with earnings expected to grow by 15% per annum in the coming years. In this favorable environment, identifying high growth tech stocks involves looking for companies with strong innovation potential and robust financial health that align well with these positive market trends.
Top 10 High Growth Tech Companies In The United States
| Name | Revenue Growth | Earnings Growth | Growth Rating |
|---|---|---|---|
| Super Micro Computer | 20.86% | 27.98% | ★★★★★★ |
| Sarepta Therapeutics | 23.67% | 43.83% | ★★★★★★ |
| TG Therapeutics | 28.39% | 43.54% | ★★★★★★ |
| Invivyd | 42.91% | 70.39% | ★★★★★★ |
| Ardelyx | 27.19% | 66.44% | ★★★★★★ |
| Apellis Pharmaceuticals | 22.87% | 69.56% | ★★★★★★ |
| Amicus Therapeutics | 20.33% | 62.45% | ★★★★★★ |
| Travere Therapeutics | 27.18% | 69.88% | ★★★★★★ |
| Seagen | 22.57% | 71.80% | ★★★★★★ |
| ImmunoGen | 26.00% | 45.85% | ★★★★★★ |
Click here to see the full list of 253 stocks from our US High Growth Tech and AI Stocks screener.
We'll examine a selection from our screener results.
Veracyte
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Veracyte, Inc. is a diagnostics company that operates both in the United States and internationally, with a market cap of $2.62 billion.
Operations: Veracyte generates revenue primarily from its diagnostic products, totaling $399.58 million. The company operates in both the United States and international markets.
Veracyte, with its focus on genomic diagnostics, has shown a promising trajectory by leveraging advanced technologies to enhance cancer diagnosis accuracy. The company's recent announcement of a 9.7% annual revenue growth rate outpaces the broader U.S. market's 8.8%, indicating robust sector-specific expansion. Notably, Veracyte is poised for profitability within three years, supported by an impressive forecasted earnings growth of 59.3% annually. This financial outlook is underpinned by strategic R&D investments which are critical in maintaining its competitive edge in the high-stakes biotech industry, particularly in personalized medicine for prostate cancer—a field where it recently demonstrated significant advancements through its Decipher Prostate Genomic Classifier at major clinical trials.
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Dive into the specifics of Veracyte here with our thorough health report.
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Gain insights into Veracyte's historical performance by reviewing our past performance report.
Cipher Mining
Simply Wall St Growth Rating: ★★★★★☆
Overview: Cipher Mining Inc. focuses on developing and operating large-scale bitcoin mining data centers in the United States, with a market cap of approximately $1.47 billion.
Operations: Cipher Mining Inc. generates revenue primarily through its data processing operations, amounting to $158.67 million. The company's business model centers on the development and operation of industrial-scale bitcoin mining data centers in the U.S., leveraging advanced technology to optimize efficiency and output.