In the world of technology stocks, growth is the name of the game. This week, four companies have seen their growth scores surge, led by a jaw-dropping 291% leap from Taiwan Semiconductor Inc. (NYSE:TSM). The world’s largest chip foundry, Taiwan Semiconductor boasts a market capitalization of $1462.7 billion and a market share in the mid-60s. Currently trading at $282.01, up 0.2% on Tuesday, the stock is below its 50-day moving average of $286.61 but still above the 200-day moving average of $223.47. The Relative Strength Index (RSI) sits at 38.8, indicating neutral conditions, while the MACD signals bearish momentum. Fundamentally, the company’s Benzinga Edge Ranking Growth score jumped from 21.86 to an impressive 85.46, earning it a solid overall Edge score of 76.39.
Hot on its heels is SkyWater Technology Inc. (NASDAQ:SKYT), which saw its growth score rise 169% from 31.41 to 84.38. SkyWater, a U.S.-based player in the semiconductors and related devices industry, has a market cap of $805.7 million. The stock is trading at $16.61, down 3.4% on Tuesday, but remains above both its 50-day moving average of $16.60 and 200-day moving average of $11.02. Again, the RSI at 44.5 suggests neutrality, while the MACD indicates bearish momentum. SkyWater’s overall Edge score stands at a strong 80.28, reflecting its robust fundamentals.
