2020 was a huge year for tech stocks. Some high-growth names doubled, tripled, or more in size. So far, 2021 hasn't been nearly as kind as expectations for many of these companies realign with reality.
Nevertheless, that doesn't mean the growth story is over. A new digital-first era is emerging, and some stocks could double again in 2021. Three that have that kind of potential are Square (NYSE: SQ) , Applied Materials (NASDAQ: AMAT) , and Lam Research (NASDAQ: LRCX) .
Nicholas Rossolillo (Square): Square has gotten a lot of attention because of its sizable Bitcoin holdings on its balance sheet and skyrocketing Bitcoin revenue from trading on Cash App (a Square subsidiary). Even after falling some 40% from all-time highs, Bitcoin is still up nearly 450% since the start of 2020. No wonder Square stock has gained about 250% in that same span of time.
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These 3 Tech Stocks Can Double Again in 2021