Tech stocks in 2020 saw significant overall gains despite it being a volatile year of record-breaking lows and highs. The year started and ended bullish, with long stretches of immense uncertainty.
Massive sell-offs beginning in February amid the coronavirus outbreak caused a stock market crash on March 9, representing the biggest point plunge in the Dow Jones Industrial Average (DJIA) history. By the end of the year, however, the market saw record highs. These historic ups and downs of 2020 made for a volatile market, but proved out again the value in investors being more mindful of long-term performance rather than hourly (or monthly) changes.
Stacker compiled a list of the best performing tech stocks of 2020 using data from IEX Cloud. Information technology and communication services stocks in the S&P 500 were considered. Stocks are ranked by total return.
Overall, in a year that put the vast majority of the world into lockdown mode, businesses with tech elements saw stocks do extremely well—from gaming and social media to video software and e-commerce. The stocks represented here don’t necessarily represent the best stocks to invest in currently, just as not all investments work for all portfolios. Keep reading to see which tech stocks performed best in 2020.
You may also like: Major boycotts that changed history