The market is up 3.0% in the last 7 days, with all sectors gaining ground. Over the past 12 months, the market is up 25%, and earnings are forecast to grow by 15% annually. In this favorable environment, identifying high-growth tech stocks that can capitalize on these trends becomes crucial for investors looking to maximize their returns.

Top 10 High Growth Tech Companies In The United States

Click here to see the full list of 250 stocks from our US High Growth Tech and AI Stocks screener.

We'll examine a selection from our screener results.

AppLovin

Simply Wall St Growth Rating: ★★★★★☆

Overview: AppLovin Corporation operates a software-based platform designed to enhance marketing and monetization for advertisers both in the United States and internationally, with a market cap of $38.86 billion.

Operations: AppLovin generates revenue primarily through its Apps and Software Platform segments, with $1.49 billion and $2.47 billion respectively. The company focuses on enhancing marketing and monetization strategies for advertisers globally.

AppLovin's revenue is forecast to grow at 12.6% annually, outpacing the US market's 8.8%. The company reported second-quarter sales of $1.08 billion, up from $750 million a year ago, and net income surged to $310 million from $80 million. With earnings expected to grow 24.6% per year and an anticipated return on equity of 58.4%, AppLovin demonstrates robust financial health despite significant insider selling recently observed over the past three months. Investing heavily in R&D with expenditures contributing significantly to their innovative edge, AppLovin’s focus on software advancements ensures sustained growth in the competitive tech landscape. Their recent guidance projects third-quarter revenue between $1.12 billion and $1.14 billion, reflecting continued confidence in their business model amidst industry shifts towards SaaS models for recurring revenue streams.

• Click here to discover the nuances of AppLovin with our detailed analytical health report.

• Examine AppLovin's past performance report to understand how it has performed in the past.

Cadence Design Systems

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Cadence Design Systems, Inc. offers software, hardware, services, and reusable integrated circuit (IC) design blocks globally and has a market cap of $74.79 billion.

Operations: Cadence Design Systems generates revenue primarily from its CAD/CAM software segment, which brought in $4.16 billion. The company focuses on providing comprehensive solutions for IC design through its diverse product offerings.

Cadence Design Systems showcases a robust growth trajectory with forecasted earnings growth of 18.4% annually, outpacing the US market's 15.2%. Their strategic focus on R&D, with expenditures contributing significantly to their innovative edge, is evident from their recent $1 billion fixed-income offering aimed at bolstering technological advancements. Revenue for Q2 2024 reached $1.06 billion, up from $976 million the previous year, while net income rose to $229 million. The company repurchased 423,453 shares for $125 million in Q2 2024, reflecting confidence in its financial health and future prospects amidst industry shifts towards advanced chip design and AI-driven solutions.

• Navigate through the intricacies of Cadence Design Systems with our comprehensive health report here.

• Evaluate Cadence Design Systems' historical performance by accessing our past performance report.

ServiceNow

Simply Wall St Growth Rating: ★★★★★☆

Overview: ServiceNow, Inc. offers comprehensive intelligent workflow automation platform solutions for digital businesses across North America, Europe, the Middle East and Africa, Asia Pacific, and internationally with a market cap of $183.72 billion.

Operations: ServiceNow, Inc. generates revenue primarily from its Internet Software & Services segment, amounting to $9.96 billion. The company focuses on providing end-to-end intelligent workflow automation platform solutions for digital businesses across various regions globally.

ServiceNow's revenue is forecasted to grow at 16.3% annually, with earnings projected to rise by 22.4%, outpacing the US market's 15.2%. Despite a recent dip in profit margins from 17.8% to 11.5%, the company continues investing heavily in R&D, allocating $1 billion towards technological advancements, ensuring sustained innovation and competitive edge. The strategic alliances with Infosys and Boomi further enhance ServiceNow’s AI-driven solutions, promising significant operational efficiencies for clients like First Abu Dhabi Bank and K2 Services.

• Dive into the specifics of ServiceNow here with our thorough health report.

• Gain insights into ServiceNow's historical performance by reviewing our past performance report.

Next Steps

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Contemplating Other Strategies?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.

• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.

• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include NasdaqGS:APP NasdaqGS:CDNS and NYSE:NOW.

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