Best-performing tech stocks in December 2024

Bankrate

Summary:

Here’s a look at the top-performing energy stocks.

Technology stocks are perennially one of the hottest areas of the stock market. Investors closely follow this sector because of its track record of scorching returns and the potential for more in the future. So it can be worth keeping an eye on tech stocks and tracking the hot performers.

While a list of best performers won’t tell you which stocks will do well in the future, many top tech performers continue to deliver strong returns for years. For example, Amazon has put up serious gains in past years, so it can be useful to follow the best tech stocks to see which will continue their high-growth ways.

Below are the best-performing tech stocks in 2024, which includes exclusively tech stocks from the Technology Select Sector SPDR Fund ETF (XLK). Data as of Nov. 29, 2024.

Best tech stocks as of December 2024

Company and ticker symbol	Performance in 2024
Palantir Technologies (PLTR)	290.7%
Nvidia (NVDA)	179.3%
Fair Isaac (FICO)	104.0%
GoDaddy (GDDY)	86.1%
Oracle (ORCL)	75.3%
Arista Networks (ANET)	72.3%
Dell Technologies (DELL)	66.8%
Fortinet (FTNT)	62.4%
Corning (GLW)	59.8%
Motorola Solutions (MSI)	59.6%

It can also be worthwhile keeping an eye on some of tech’s laggards, too. Why? Sometimes the reason a stock might be underperforming is because it skyrocketed the year before. So, investors need time to digest the good news and the underlying business needs time to catch up to the stock price. This year’s underperforming stock could well become a darling again next year.

Below are the worst-performing tech stocks from the same fund.

Worst-performing tech stocks as of December 2024

Company and ticker symbol	Performance in 2024
Intel (INTC)	-52.1%
Enphase Energy (ENPH)	-46.0%
Qorvo (QRVO)	-38.7%
Microchip Technology (MCHP)	-24.4%
CDW (CDW)	-22.6%

The Magnificent 7 stocks

Here’s how the Magnificent 7 stocks have performed.

Company and ticker symbol	Performance in 2024
Apple (AAPL)	23.3%
Microsoft (MSFT)	12.6%
Amazon (AMZN)	36.9%
Alphabet (GOOGL)	21.0%
Tesla (TSLA)	38.9%
Nvidia (NVDA)	179.3%
Meta Platforms (META)	62.3%

Should you invest in the hottest tech stocks?

Investing in individual stocks can be tough. You need to understand the business and the industry, and know where they’re heading. With tech stocks, that means you may need to research and understand many complex things. For those who have the time and willingness to invest the energy into doing it, they may be able to get some of these great returns.

Is everyone else out of luck? Nope. In fact, any investor can take part in the rising tech industry, even with just a little knowledge. That’s because investors have the ability to buy index funds based on whatever sector of the market they want. These funds track a specific collection of stocks and don’t try to beat the market but instead get the weighted average of their holdings.

So if you’re looking for tech stocks, consider mutual funds or exchange-traded funds that focus exclusively on the technology sector. You’ll have a wide assortment of funds, ranging from exclusively tech-focused funds to those with a huge allocation to tech, such as an index fund based on the Nasdaq Composite index, a collection of thousands of stocks trading on the Nasdaq exchange.

But a key for whatever you invest in: If you don’t hold onto your stock or fund, you won’t get the returns that it could offer. That’s one reason that passive investing often trumps active trading.

Bottom line

Tracking the hottest tech stocks is a good way to find out what the market likes, but if you want to go out and invest in some of these names, it’s important that you research the business and understand what you’re actually buying. And you’re under no obligation to buy anything you don’t like. As legendary investor Warren Buffett once said, “The stock market is a no-called-strike game. You don’t have to swing at everything — you can wait for your pitch.”

Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

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Esports Market Set To Surpass $5 Billion By 2029: What Investors Need To Know

Benzinga

The global esports market is poised for explosive growth, with a recent report from Arizton Advisory & Intelligence projecting it will exceed $5 billion by 2029, fueled by a compound annual growth rate (CAGR) of 17.48%.

To put this in perspective, industries like American football and global music show significantly lower CAGRs of 6.9% and 7.8%, respectively, the report says.

However, regulatory complexities, emerging technologies, and strategic market shifts are shaping the industry’s future. In dialogue with Benzinga, Arizton’s Associate Consultant, Abhiyank Verma, shared insights into the challenges and opportunities ahead for esports investors and stakeholders.

Navigating The Challenges Of The Esports Industry

“Regulatory uncertainties remain a major challenge for esports companies,” said Verma. He added that governance frameworks vary across regions, creating a fragmented landscape.

"For instance, South Korea leads the way with structured governance through the Korea Esports Association (KeSPA), ensuring fairness and player welfare," Verma shared.

On the other hand, regions like North America and Southeast Asia rely on fragmented or industry-driven policies, making it difficult to manage player rights and advertising regulations.

Other regions face their own hurdles. "Saudi Arabia enforces strict content controls under Vision 2030, and China imposes tight restrictions on gaming time and content," Verma noted, adding that these measures complicate global operations.

Emerging Technologies Shaping The Future Of Esports

The adoption of cutting-edge technologies like Augmented Reality (AR) and Virtual Reality (VR) is revolutionizing the esports experience.

As Verma puts it, "AR enhances real-world environments by overlaying digital elements, enriching gameplay with real-time visuals and data."

VR, on the other hand, transports players to fully virtual worlds, providing “unparalleled inmmersion.” Together, these technologies are unlocking new possibilities, from mixed-reality tournaments to enhanced spectator experiences.

The global impact of AR and VR is already evident. For instance, in the U.S., initiatives like Golden Gloves VR are blending fitness with competitive gaming, while Canada's Dark Slope advances VR-based experiences. The United ArabE is leveraging these innovations to bolster its economy, with Dubai's VR Park projected to add $4.1 billion by 2030. Meanwhile, China's Meta-Tencent partnership showcases the growing role of immersive technology in competitive gaming.

"These technologies are driving trends that expand audiences and unlock economic opportunities," Verma emphasized, underscoring their transformative potential for the esports ecosystem.

Advice For Investors Eyeing Esports Growth

For investors looking to tap into this booming market, Verma stressed the importance of diversification, strategic partnerships, and emerging markets.

Revenue Diversification: "Traditional revenue sources such as sponsorships and tournament winnings remain vital," Verma explained, but esports organizations are branching out. He pointed to in-game purchases, virtual goods, subscription services, and digital collectibles as emerging revenue streams that cater to fans’ demand for exclusive content.
Strategic Partnerships: Collaborations with game developers and streaming platforms are essential. "Partnerships with companies like Tencent Holdings ADR‘s Riot Games, Blizzard, and Microsoft Corp.‘s Activision ensure a steady supply of new titles and competitive events," said Verma. Streaming platforms like Twitch, Alphabet Inc‘s YouTube, and Meta Platforms Inc‘s Facebook Gaming also play a critical role in expanding esports' reach and community engagement.
Emerging Markets: Regions like Southeast Asia, India, and the Middle East are experiencing rapid growth due to improved internet infrastructure and smartphone adoption. "With the rise of fan engagement technologies, including VR, AR, and interactive live-streaming, esports organizations are creating new ways for fans to interact with content."

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Photo by Florian Olivo on Unsplash.

Risk Warnings and Disclaimers

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Jeff Bezos 'Acts Like He Owns' The Elite Neighborhood He Lives In, But Residents Say He's 'Not Much Of A Neighbor'

Benzinga

Amazon.com, Inc. founder Jeff Bezos lives a private life in an elite neighborhood where he rarely shows his face.

What To Know: Bezos is a resident of Hunts Point, a wealthy neighborhood just outside of Seattle. He purchased a $37.5 million property in the neighborhood in 2019, as well as three other nearby homes for his staff, according to a Business Insider report.

Every year, residents of Hunts Point gather to plant trees, pull weeds and pick up trash around the neighborhood, but Bezos never shows up.

“I’ve seen a billionaire pick up trash on Cleanup Day. Not Jeff Bezos,” one resident reportedly told Insider.

Less than 400 people call Hunts Point home, but the neighborhood is filled with multiple billionaires and other members of the business elite. Former Microsoft Corp CEO Steve Ballmer and Costco Wholesale Corporation co-founder James Sinegal are among the residents of Hunts Point.

Check This Out: Jeff Bezos Denies Elon Musk’s Allegation That He Told People To Sell Tesla Stock: ‘100% Not True’

Although Bezos never made appearances at any of the neighborhood gatherings or fundraising events, his staff was regularly seen roaming the area. Bezos had a personal chef who lived in the neighborhood and delivered meals to Bezos on a golf cart, one resident said.

The billionaire’s security guards also lived in a house near the entrance of the neighborhood and were very friendly to other residents. They had often been seen taking misaddressed packages to other doorsteps — how ironic. They also were involved in reporting suspicious persons and behavior.

Although Bezos kept his gate closed and rarely showed his face, he still acted like he ran the place.

“Jeff Bezos acts like he owns Hunts Point,” one resident said.

Another neighbor told Insider that he never seemed to live there full-time. “He’s not much of a neighbor,” the resident said.

Last year, Bezos announced he was leaving the Seattle area for Miami.

“My parents have always been my biggest supporters. They recently moved back to Miami, the place we lived when I was younger ... I want to be close to my parents, and Lauren and I love Miami,” Bezos said in an Instagram post.

When Bezos bought his home in Hunts Point in 2019, he was the richest person in the world. At the time of writing, Bezos was ranked third on the Forbes real-time billionaires list with a net worth of approximately $221.3 billion.

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