MW Tech stocks have been shaky, but these 20 companies could still see rocketing sales growth
By Britney Nguyen and Philip van Doorn
Sandisk and Micron could see industry-leading revenue growth in the coming years
Many fast-growing major tech companies are in the hardware sector, but Palantir also screens well for projected sales growth.
There is a "crisis of confidence" gripping the technology sector, according to a Mizuho analyst. For that reason, investors may want to focus their attention on stocks backed by strong fundamentals.
What started as concerns about the threat of new artificial-intelligence features to traditional software companies ballooned into a selloff that hit the broader tech sector for most of the week. And while stocks bounced on Friday, Mizuho trading-desk analyst Jordan Klein noted that "former leaders" Nvidia (NVDA) and Broadcom $(AVGO)$ had been stagnant recently.
"Tech investors [are] frustrated, angry, worried" that institutional investors own a handful of the same names, that stock valuations are not sustainable and that any bit of news can take down the whole tech trade, he wrote in a note to clients on Thursday.
While some software players rank among the major technology companies that could grow sales the quickest in the coming years, many of the stocks that screen as having fast sales growth are in hardware-adjacent sectors. That helps to illustrate why there's been a rotation out of software and into hardware plays this year.
To screen large-cap tech stocks, we began with the 70 companies in the S&P 500 information-technology sector XX:SP500.45 and added the 12 in the Nasdaq-100 Technology Sector Index XX:NDXT that are not in the S&P 500 SPX tech sector.
Among the 82 companies, the following 20 are expected to increase their sales the most this year, based on LSEG consensus analyst estimates and adjusted for calendar years for companies whose fiscal reporting periods don't match the calendar.
Company Projected 2026 sales growth Projected 2-year sales CAGR through 2027 2026 price change through Feb. 5 Forward P/E Forward P/E as of Dec. 31 Sandisk Corp. 130.9% 68.3% 143% 8.1 13.6 Micron Technology Inc. 65.5% 39.7% 34% 9.4 7.9 Palantir Technologies Inc. 57.6% 50.0% -27% 91.4 173.1 Super Micro Computer Inc. 54.9% 34.9% 5% 11.3 11.6 Nvidia Corp. 54.8% 41.3% -8% 21.1 24.5 Broadcom Inc. 49.6% 42.0% -10% 26.8 31.9 AppLovin Corp. 37.0% 31.9% -44% 23.7 45.5 Amphenol Corp. 35.6% 23.4% -6% 28.1 31.7 Advanced Micro Devices Inc. 33.6% 37.0% -10% 26.7 33.1 Teradyne Inc. 31.6% 25.2% 40% 40.3 36.7 Synopsys Inc. 31.1% 20.5% -13% 26.9 31.7 DoorDash Inc. 29.9% 24.3% -19% 54.7 70.7 Western Digital Corp. 29.0% 25.6% 51% 21.6 19.6 Seagate Technology Holdings PLC 27.7% 22.6% 47% 24.0 20.5 Fair Isaac Corp. 25.4% 21.0% -20% 28.8 38.9 Oracle Corp. 24.9% 33.4% -30% 17.6 25.2 Meta Platforms Inc. 24.3% 21.2% 2% 21.9 22.1 Microchip Technology Inc. 23.9% 21.1% 22% 28.0 28.8 Shopify Inc. 23.9% 22.9% -31% 56.0 85.9 Marvell Technology Inc. 23.5% 25.5% -13% 21.2 24.0 Source: LSEG
In comparison, the S&P 500 information-technology sector is expected to show a 17% weighted increase in sales per share this year, with a sales CAGR of 18.5% from 2025 through 2027.
The table includes a comparison of forward price-to-earnings ratios. Of course, the P/E ratios are down for many of the companies in part because of declining stock prices. But there are four companies whose forward P/E ratios have declined even as their share prices have risen. That's because their consensus 12-month EPS estimates have risen more quickly. These companies are Sandisk $(SNDK)$, Super Micro Computer $(SMCI)$, Meta Platforms (META) and Microchip Technology (MCHP).
Half of the companies trade at forward P/E valuations lower than the IT sector's weighted P/E of 25.7.
It's not over for software
Palantir Technologies (PLTR), which saw its stock fall about 8% this week, has the third-highest projected sales growth of this group, and the highest among software names at 57.6%.
In its earnings report earlier this week, the company guided for 61% revenue growth in 2026 - ahead of the 40% Wall Street analysts were expecting. Wedbush analyst Dan Ives named Palantir as one of his "top tech names to own in 2026" in a Tuesday note, writing that the company could drive "unprecedented traction for its entire portfolio across the federal and commercial landscapes" for the foreseeable future.
See more: Palantir's stock pops against a bleak software backdrop
Oracle $(ORCL)$ also saw its stock get pummeled this week as investors worried both about the vulnerability of its enterprise software business and its increasing pile of debt from financing a major part of OpenAI's data-center buildout. But the company still stands to grow sales at a 33% CAGR over two years as AI business piles in.
The memory market is only getting hotter
Perhaps less surprising is that memory makers Sandisk and Micron Technology $(MU)$ have the highest estimated sales growth for 2026 in the group, at 130.9% and 65.5%, respectively.
Shortages in the memory market have driven memory and storage stocks higher, as companies have gained more pricing power both from the supply crunch and from offering higher-capacity products that cost more money. Memory and storage makers have also been reluctant to add capacity despite surging demand. They fear eventually having too much supply in what is a typically cyclical market.
Read on: Sandisk's stock gets 'one of the most delayed upgrades in history' after blowout earnings
In its latest earnings report, Sandisk set fiscal third-quarter revenue guidance at between $4.4 billion and $4.8 billion - almost 60% higher at the midpoint than the analyst consensus on FactSet for $2.9 billion. And its third-quarter guidance on adjusted earnings per share was more than 150% higher than estimates.
Despite getting swept up in the fears rocking the tech trade this week, Sandisk's stock is up 143% so far this year, and up more than 1,500% since it spun off from Western Digital $(WDC)$ about a year ago. Western Digital and fellow storage leader Seagate Technology Holdings $(STX)$ are also expected to see strong sales growth this year, at 29% and 27.7%, respectively.
Micron, too, has been riding the AI-driven highs among memory stocks, falling about 4% this week but rising 38% so far this year. The company has benefited from being one of three companies in the world that produce high-bandwidth memory (HBM), a type of memory that is crucial in AI chips, such as Nvidia's graphics processing units, for supporting larger and more powerful AI models.
And read: Micron's stock is surging as the company looks to cash in on a 'desperate' market
The chip maker announced late last month that it has plans to address another memory bottleneck with an advanced wafer-fabrication facility in Singapore for NAND manufacturing. Supply of NAND has become tight, as it is essential for inference, or the process of running AI models. Unlike dynamic random-access memory, which is stacked to make HBM, NAND is nonvolatile - meaning it can be used for storing data without needing power.
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February 07, 2026 07:00 ET (12:00 GMT)
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