5 Tech Stocks That Skyrocketed Over 100% in 2023

The year 2023 has been a remarkable one for investors in the tech sector. Among a plethora of equities, there are five technology stocks that not only caught the eye but also rewarded shareholders with returns exceeding 100%. As investors look towards 2024, these tech companies are not just about impressive past performance; they also possess solid fundamentals that could support future growth and investment potential.

The Tech Titan: Microsoft Corporation MSFT

At the forefront is MSFT, a titan in the tech industry, widely known for its software products, including the Microsoft Windows operating systems, Microsoft Office suite, and browsers like Internet Explorer and Edge. Its hardware, like Xbox consoles and the Surface PCs, also contribute to its status as a tech heavyweight. With a consistent place in the Fortune 500 and its position as the world's largest software maker by revenue since 2016, MSFT holds a strong appeal for those looking to invest in enduring tech success stories.

The Social Media Giant: Meta Platforms, Inc. META

META has transformed the way people connect, allowing friends and family worldwide to share and communicate across various devices and platforms. Headquartered in Menlo Park, California, the company's offerings extend to virtual reality, wearables, and home devices, positioning it nicely for investment in the emerging tech segment of social connectivity.

The GPU Innovator: Nvidia Corporation NVDA

NVDA continues to be a dominant force in the design of GPUs for gaming and professional markets, as well as SoCs for mobile computing and automotive applications. Its Silicon Valley roots have helped solidify its position as a leading innovator in the high-demand sector of graphics processing and systems on chips.

The Cloud Security Expert: CrowdStrike Holdings, Inc. CRWD

With its cloud solutions for endpoint and cloud workload protection, CRWD addresses a critical need in cybersecurity. Its international presence and robust product lineup make this Sunnyvale, California-based company a compelling choice for investors focused on the tech security sphere.

The Internet of Things Enthusiast: Arlo Technologies, Inc. ARLO

Specializing in smart connected devices for real-time environmental monitoring, ARLO has carved a niche in IoT solutions. From Wi-Fi to cellular network-based gadgets, this San Jose, California-based company is investing heavily in the future of connected tech.

The Database Dynamo: MongoDB, Inc. MDB

Last on the list, but certainly not least, is MDB. This New York-based enterprise provides a general-purpose global database platform that underpins a multitude of applications across the digital economy, signaling substantial potential for ongoing investment.

Microsoft, Meta, Nvidia, CrowdStrike, Arlo, MongoDB