3 Tech Stocks That Could Make Your February Unforgettable

Noah Bolton

February 15, 2024 4 min read

Technology companies are one of the stock market segments with the most significant growth and investor attention. The benchmark ETF for the tech sector is the Technology Select Sector SPDR Fund (NYSEARCA:XLK). It has $62 billion in assets under management, and the top three companies within the ETF are Microsoft (NASDAQ:MSFT), Apple (NASDAQ:AAPL), and Nvidia (NASDAQ:NVDA). Over the past year, it has seen more than a 40% return increase. These tech stocks have spelled big gains for the ETF.

The tech industry is filled with stocks that offer investors the possibility of an unforgettable February and beyond. Below are a few growing technology companies with a bright future ahead. You should heavily consider these for inclusion in an investment portfolio with the goal of unforgettable returns.

UiPath (PATH)

Source: dennizn / Shutterstock.com

UiPath (NYSE:PATH) provides an automation platform that uses generative (AI) analytics and forecasting for businesses and government organizations.

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Over this past year, its stock price has grown by 62%. This is due to improved financial results reported from its recent earnings report for the third quarter of 2024. The report stated that total revenue increased by 24%. Its net loss was nearly cut in half to $32 million compared to the previous year. The financial outlook for the fourth quarter predicts that total revenue will be around $381 million to $386 million. This is much better when compared to Q3 2023, which was $326 million.

UiPath provides robotic automation services heavily reliant on generative (AI) technology. The continued optimization and advancement of the company offer a great chance for investors. Investors can take advantage of this cutting-edge company that is projected to keep experiencing growth and investor excitement.

Celestica (CLS)

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Celestica (NYSE:CLS) is a supply chain optimization company that provides mechanical assembly and cloud connectivity products.

CLS is a company that has seen tremendous growth over this past year. This is due primarily to several events, including the rollout of its new generation 800G switch. This switch improves data center and artifact intelligence connectivity capabilities and its recently improved financial position.

On Jan. 29, CLS reported earnings for the fourth quarter of 2023. The report stated that total revenue grew slightly by 5%. It also stated that its net income and free cash flow doubled when compared to Q4 of 2022. Celestica announced its Q1 2024 outlook. The company predicted total revenue will not drastically change from Q3.

Celestica beat analyst expectations for its recent earnings report. With continued improvement in products used within the data center and generative (AI) space, investors should continue to be excited about this company. Even with its share price surging by more than 37% within the last month, it still shows no sign of stopping, which may provide investors with an unforgettable February.

Photronics (PLAB)

PLAB stock: Electronic board, pen, processor on the background of schematic circuit diagram and photomask for manufacture of printed circuit boards.

Source: Mentor57 / Shutterstock

Photronics (NASDAQ:PLAB) is a manufacturer and seller of photomask products. Photomask products are a semiconductor manufacturing component. These components allow circuit patterns to transfer to wafers. It also produces various electrical components.

Photronics has seen its share price increase by 80% over this past year, primarily from a positive earnings report for the fourth quarter of 2023, which was released on Dec. 13 and stated that its total revenue rose by 8% and earnings per share increased by 20% compared to the years prior. Following this most recent earnings release, its stock price surged 34%.

In late January, there was a leadership transition in which the chief financial officer, John Jordan, will retire in February and be replaced by Eric Rivera as interim CFO. The stock price hasn’t seen much movement since this was announced, which may signal that this news is unimportant to investors at this time.

Photronics is a company that is developing more sophisticated integrated circuit products. Investors are excited about the direction the company is going in at this time, and in the future, it is set for significant upside potential. If you are looking for the next big tech stocks, start here.

As of this writing, Noah Bolton did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Noah has about a year of freelance writing experience. He’s worked with Investopedia dealing with topics such as the stock market and financial news.