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Which Tech Stocks Are Plotted to Explode in the Next 3 Years?

Which tech stocks are poised to explode in three years? The answer to this question will depend on the current economic and financial conditions. Currently, the technology sector is undergoing a COVID supercycle, in which a large percentage of smartphone users upgrades their devices, leading to a huge spike in sales and earnings. It is also a popular choice for investors, thanks to its strong innovation and compelling historical growth in smartphone sales.

Silicon carbide (SiC) is a crucial component of electric vehicle powertrains. The company is investing $1 billion over the next decade in the development of silicon carbide, which will be crucial to the success of EV powertrains. SiC is already worth $500 million, but management sees it exploding next year as EV adoption gains steam. By 2030, the SiC market is expected to reach $30 billion, which is a compound annual growth rate of 50%.

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In Conclusion

Besides its booming market, the company has the potential to expand its main power business by profiting from alternative energy, which could drive growth in its backend business. Generac’s shares have risen 227% since April, and at a conservative rate of two to four percent a year, its earnings could double over the next three years. Despite its risky future, it remains a great backend tech play.

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