The following tech companies have seen their quarterly revenue and net income improve significantly on a year-over-year basis, attracting the interest of growth-focused investors. Furthermore, sell-side analysts on Wall Street have issued positive recommendation ratings for these stocks, suggesting they expect better market valuations in the future.
Apple Inc.
The first stock that meets the criteria is Apple Inc. (AAPL, Financial), a Cupertino, California-based manufacturer of smartphones, personal computers, tablets, wearables and accessories worldwide.
Apple's quarterly revenue increased 11.22% year over year to $123.945 billion as of the December 2021 quarter. Revenue was $111.439 billion in the prior-year quarter.
The company recorded net income of $34.630 billion for the quarter, improving nearly 20.43% from $28.755 billion a year ago.
The stock was trading at $161.79 per share at close on April 22 following a 20% jump over the past year for a market capitalization of $2.64 trillion and a 52-week range of $122.25 to $182.94.
GuruFocus assigned a score of 7 out of 10 to the company's financial strength and 10 out of 10 to its profitability.
On Wall Street, the stock has a median recommendation rating of overweight and an average target price of $190.18 per share.
Uber Technologies Inc.
The second stock that makes the cut is Uber Technologies Inc. (UBER, Financial), a San Francisco, California-based software application company providing global ridesharing solutions. The company also offers food delivery services, electric bicycles and scooters and is working on several technology projects.
Uber Technologies Inc.'s quarterly revenue increased 82.56% year over year to $5.778 billion as of the December 2021 quarter. Revenue was $3.165 billion in the prior-year quarter.
The company reported net income of $892 million for the quarter, a positive switch from the net loss of $969 million a year ago.
The stock was trading at $30.83 per share at close on April 22 following a 46.48% drop that occurred over the past year, determining a market capitalization of $60.27 billion and a 52-week range of $28.27 to $59.22.
GuruFocus assigned a score of 4 out of 10 to the company's financial strength and 3 out of 10 to its profitability.
On Wall Street, the stock holds a median recommendation rating of buy with an average target price of about $58.80 per share.
Sunrun Inc.
The third company that qualifies is Sunrun Inc. (RUN, Financial), a San Francisco, California-based designer, installer and seller of solar energy systems for residential buildings in the United States.
Sunrun Inc.'s quarterly revenue increased 35.84% year over year to $435.2 million as of the December 2021 quarter. Revenue was $320.4 million in the prior-year quarter.
For the quarter, the company posted a net loss of $38.5 million, which was a significant improvement from the $169.3 million net loss recorded for the prior-year quarter.
The stock was trading around $20.32 a share as of April 22 after falling 64.26% over the past year. It has a market cap of $4.26 billion and a 52-week range of $18.61 to $60.60.
GuruFocus assigned a score of 3 out of 10 to the company's financial strength and 4 out of 10 to its profitability.
On Wall Street, the stock holds a median recommendation rating of overweight with an average target price of about $49.19 per share.
ASE Technology Holding Co Ltd
The fourth company that qualifies is ASE Technology Holding Co Ltd (ASX, Financial), a Taiwanese provider of various semiconductor packaging and testing as well as electronic manufacturing services to semiconductors manufacturers internationally.
ASE Technology Holding Co Ltd.’s quarterly revenue increased 16.16% year over year to $6.235 billion as of the December 2021 quarter. Revenue was $5.295 billion in the prior-year quarter.
Net income was $1.115 billion, an increase of 207.80% over the net income of $357.2 million reported in the year-ago quarter.
The stock was trading around $6.66 a share as of April 22 after falling 21.74% over the past year. It has a market cap of $14.26 billion and a 52-week range of $6.53 to $9.62.
GuruFocus assigned a score of 4 out of 10 to the company's financial strength and 8 out of 10 to its profitability.
On Wall Street, the stock holds a median recommendation rating of overweight with an average target price of about $9.10 per share.
