The technology sector has played a significant role in shaping the modern world into what it is today. The 1959 invention of the MOSFET resulted in the establishment of companies such as Apple and Intel, which were all relatively unknown at the turn of the twentieth century. The technology boom has resulted in the establishment of what is known as the global digital economy. According to The Brookings Institute, the American economy was worth $11.5 trillion in 2018. In the United States, the digital economy accounted for 9.6 percent of GDP in 2019, with a $2 trillion output. By 2024, the market will exceed half a trillion dollars due to its 17.5 percent compound annual growth rate.
Insider Monkey takes a look at the 10 best tech growth stocks to buy right now. QuantumScape Corporation seeks to revolutionize the emerging electric vehicle industry by mass producing solid-state batteries for use in automobiles and other vehicles. On August 21, 2020, the company’s shares began trading on the New York Stock Exchange at $9.8. Coinbase Global, Inc. provides users with access to cryptocurrency applications, the ability to trade and purchase cryptocurrencies, and the ability to trade in cryptocurrency-based assets. The company’s shares fell during the company’s initial public offering earlier this year after falling during trading. Its P/E ratio of 32.23 indicates that the market is bullish on the company’s future. Advanced Micro Devices, Inc. has grown at a breakneck pace over the last few years as a result of its popular chip designs. Despite this phenomenal growth, the company’s current price-to-earnings ratio is 38.66, indicating that investors anticipate an even brighter future. Amazon.com, Inc. shares closed at $1,169 in 2017 and at $3,316 on Thursday, August 26, 2021. This corresponds to an 184 percent increase in the share price over the last three years. GoDaddy Inc. is a 1997-founded American company. It is involved in the hosting and sale of Internet domains. Its share price was $50.28 at the end of 2017 and $73.40 on Thursday, August 26, 2021. For more details, click 10 Best Tech Growth Stocks To Buy Right Now.
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