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Ride the Tech Rebound With These 2 Top-Rated Stocks – TipRanks Financial Blog

It’s safe to say that tech has been on the up recently. The spread of artificial intelligence (AI) has lit a fire under investors, and tech stocks have rallied some $4 trillion this year. The NASDAQ index, which is tech-heavy to begin with, gained 2.5% last week, and is up almost 25% since the onset of 2023, marking a turnaround from 2022’s bear market. By comparison, the S&P 500 is only up 9%, and the Dow has slipped slightly.

The biggest winner in the tech rally so far is Nvidia. The company is seen as one that stands to benefit immensely from AI’s rise, and it has gained accordingly. The shares are up by more than 165% year-to-date, putting the semiconductor giant on track to become the first trillion-dollar chip company.

But Nvidia, for all its dominance, is hardly the only tech game in town. Investors can find plenty of other stocks that are ready to ride this tech rebound to success. We’ve used the TipRanks Smart Score to locate two such stocks – equities that have earned the ‘Perfect 10’ rating from the data sorting tool. A Perfect 10 from the Smart Score shows that a stock rates high in a set of 8 factors known to correlate with future outperformance; these Perfect 10 tech firms are shares that truly stand out in a field of rising stocks. So, let’s check the details.

monday.com (MNDY)

First up is monday.com, a software company offering cloud-based products to enterprise customers, for use in work management, office system optimization, CRM, marketing, sales ops, and project management. The company’s products, offered on a subscription model, streamline office workflows by connecting people and systems, allowing for more efficient processes. Monday can boast some big names in its customer base, including Uber, Coca-Cola and Canva.

By the numbers, we can see just how quickly Monday has grown. The company was founded in 2012, and held its IPO in June of 2021; today, the firm employs more than 1,500 people, has over 186,000 customers using the products, and can claim nearly 1,700 customers generating more than $50,000 each in annual recurring revenue. The company has a market cap of $7.98 billion.

In an important move that offers promise to expand monday.com’s customer base, the company announced on May 24 a new partnership with Microsoft. The joint effort will make monday.com’s CRM sales tools available on Microsoft Teams.

In addition, this past April, monday.com announced a new ‘work operating system’…

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