The Best Tech Stocks – And The Worst – In 2021 (So Far)
Here is a look at the 10 tech company stocks that recorded the biggest gains in the first half of 2021 – and the eight companies that saw stock price declines.
Tech Stocks Rebound As The Pandemic Recedes
After stock prices took a big hit in early 2020 at the start of the COVID-19 pandemic, stocks were generally on the rise for the rest of the year – including many technology company shares. Those increases have continued into the first half of 2021 – and even accelerated – as the pandemic recedes and the economy bounces back.
Of the 45 tech company stocks on our watch list, 37 recorded gains in their stock price between Jan. 1 and June 30 – many by hefty double-digit percentages. Only eight companies recorded declines in their stock price in the first half of 2021 – four by low double-digit percentages.
The Dow Jones closed at 34,502.51 on June 30, up 12.73 percent from its 30,606.48 close on Dec. 31, 2020. The tech-heavy Nasdaq closed at 14,503.95 on June 30, up 12.54 percent from its 12,888.28 close on Dec. 31, 2020.
Here‘s a look at the biggest stock price winners and losers in the first six months of 2021. We start with the 10 biggest winners, counting down to the IT vendor with the biggest stock price gain during the period. Then we list the eight companies whose stock price declined the most, concluding with the IT vendor with the biggest loss. The rankings are based on stock closing prices on Dec. 31, 2020 and June 30, 2021.
For more of the biggest startups, products and news stories of 2021 so far, click here.
Gainers No. 10: NortonLifeLock
CEO: Vincent Pilette
Dec. 31, 2020 Close: $20.78
June 30, 2021 Close: $27.22
Change: +30.99%
NortonLifeLock, formerly Symantec’s consumer security business, was spun off as an independent, publicly traded company in late 2019.
In July NortonLifeLock confirmed that it is in merger talks with Avast, a Czech-based provider of home and business cybersecurity products.
For its fiscal 2021 year (ended April 2, 2021) NortonLifeLock reported revenue of $2.55 billion, up 2.5 percent from $2.49 billion in fiscal 2020. Net income for the fiscal year was $554 million, down from $3.89 billion (which included $3.31 billion in income from discontinued operations)
The company will report its fiscal 2022 first quarter results on July 27.
Based on the June 30 stock closing price, NortonLifeLock’s market cap stood at $15.79 billion, up 28 percent from its $12.30 billion market cap at the close of 2020.
Gainers No. 9: Dell Technologies
CEO: Michael Dell
Dec. 31, 2020 Close: $73.29
June 30, 2021 Close: $99.67
Change: +35.99%
Dell Technologies continues to work toward a planned spin-off of its 81 percent stake in virtualization tech giant VMware, currently slated for the fourth quarter of 2021.
In May Dell announced that its Apex portfolio of as-a-service offerings was generally available, including the Apex Data Storage Services.
For its fiscal 2022 first quarter (ended April 30, 2021), Dell reported revenue of $24.49 billion, up 12 percent from $21.90 billion in the first quarter of fiscal 2021. Net income for the quarter was $938 million, up 415 percent from $182 million one year earlier.
Based on the June 30 stock closing price, Dell’s market cap stood at $76.12 billion, up 39 percent from its $54.95 billion market cap at the close of 2020.
Gainers No. 8: Lumen Technologies
CEO: Jeff Storey
Dec. 31, 2020 Close: $9.75
June 30, 2021 Close: $13.59
Change: +39.38%
In July communications service provider Lumen Technologies (previously CenturyLink) was reportedly in negotiations to sell off its $5 billion consumer operations to investment management firm Apollo Global Management.
For its first quarter (ended March 31) of 2021 Lumen reported revenue of $5.03 billion, down 3.8 percent from $5.23 billion in the first quarter of 2020. Net income for the quarter was $475 million, up 51 percent from $314 million one year earlier.
Based on the June 30 stock closing price, Lumen Technologies’ market cap stood at $15.02 billion, up 40 percent from its $10.70 market cap at the close of 2020.
Gainers No. 7: Commvault Systems
CEO: Sanjay Mirchandani
Dec. 31, 2020 Close: $55.37
June 30, 2021 Close: $78.17
Change: +41.18%
For its fiscal 2021 year (ended March 31, 2021) Commvault, a developer of data management and protection technology, reported revenue of $723.5 million, up nearly 8 percent from $670.9 million in fiscal 2020. The company reported a net loss of just under $31 million for the year compared to a $5.65 million loss in fiscal 2020.
Based on the June 30 stock closing price, Commvault’s market cap stood at $3.60 billion, up 38 percent from its $2.61 billion market cap at the close of 2020.
Gainers No. 6: Seagate Technology
CEO: Dave Mosley
Dec. 31, 2020 Close: $62.16
June 30, 2021 Close: $87.93
Change: +41.46%
For its fiscal 2021 third quarter (ended April 2, 2021) storage technology manufacturer Seagate reported revenue of $2.73 billion, essentially flat with the $2.72 billion reported in the third quarter of fiscal 2020. Net income in the quarter was $329 million, up nearly 3 percent from $320 million one year before.
Based on the June 30 stock closing price, Seagate’s market cap stood at $20.13 billion, up 26 percent from its $15.97 billion market cap at the close of 2020.
Gainers No. 5: Alphabet
CEO: Sundar Pichai
Dec. 31, 2020 Close: $1,751.88
June 30, 2021 Close: $2,506.32
Change: +43.06%
Google parent company Alphabet will seek to overturn a 4.34 billion euro ($5.15 billion) European Union fine at a five-day hearing scheduled in September before Europe’s second-highest court, according to a Reuters story. The European Commission levied the fine against Google in 2018, saying the internet giant had engaged in anti-competitive behavior by using its Android mobile operating to unfairly compete with rivals.
For its 2021 first quarter (ended March 31) Google reported revenue of $55.31 billion, up more than 34 percent from $41.16 billion in the first quarter of 2020. Net income for the quarter was $17.93 billion, up 162 percent from $6.84 billion one year before.
During the first quarter Google’s cloud revenue grew nearly 46 percent to $4.05 billion from $2.78 billion one year earlier.
The company will report its second quarter results on July 27.
Based on the June 30 stock closing price, Alphabet’s market cap stood at $1.65 trillion, up 39 percent from its $1.18 trillion market cap at the close of 2020.
Gainers No. 4: Fortinet
CEO: Ken Xie
Dec. 31, 2020 Close: $148.53
June 30, 2021 Close: $238.19
Change: +60.36%
In March Fortinet acquired cloud and network security technology startup ShieldX in a move to provide Fortinet customers with a more comprehensive view of end users, workstations and operational technology devices. That followed Fortinet’s December 2020 acquisition of network monitoring technology developer Panopta.
For its 2021 first quarter (ended March 31) Fortinet reported revenue of $710.3 million, up 23 percent from $577.7 million in the first quarter of 2020. The company reported net income of $107.2 million for the quarter, up 2.5 percent from $104.6 million one year earlier.
Fortinet will announce its second quarter results on July 29.
Based on the June 30 stock closing price, Fortinet’s market cap stood at $38.90 billion, up 61 percent from its $24.11 billion market cap at the close of 2020.
Gainers No. 3: Extreme Networks
CEO: Ed Meyercord
Dec. 31, 2020 Close: $6.89
June 30, 2021 Close: $11.16
Change: +61.97%
For its fiscal 2021 third quarter (ended March 31, 2021) Extreme Networks reported revenue of $253.4 million, up 21 percent from $209.5 million in the third quarter of fiscal 2020. The company reported net income of $3.5 million compared to a $44.4 million loss one year earlier.
The company will report its fiscal 2021 fourth quarter and year-end results on July 28.
Based on the June 30 stock closing price, Extreme Network’s market cap stood at $1.41 billion, up 66 percent from its $847.6 million market cap at the close of 2020.
Gainers No. 2: McAfee
CEO: Peter Leav
Dec. 31, 2020 Close: $16.69
June 30, 2021 Close: $28.02
Change: +67.88%
Cybersecurity software developer McAfee went public for the second time in its history as the company’s shares began trading on the NASDAQ exchange on Oct. 22, 2020.
In March, McAfee announced a deal to split its consumer and enterprise security operations and sell the enterprise business to private equity firm Symphony Technology Group for $4.0 billion. That deal is expected to close by the end of 2021.
For its 2021 first quarter (ended March 31) McAfee reported revenue of $442 million, up nearly 25 percent from $354 million in the first quarter of 2020. Net income for the quarter was $94 million, up more than 10-fold from $9 million one year ago.
The company will report its second quarter results on Aug. 10.
Based on the June 30 stock closing price, McAfee’s market cap stood at $12.08 billion, up 69 percent from its $7.15 billion market cap at the close of 2020.
Gainers No. 1: BlackBerry
CEO: John Chen
Dec. 31, 2020 Close: $6.63
June 30, 2021 Close: $12.22
Change: +84.31%
Among all 45 companies on our watch list BlackBerry had the largest increase in its stock price in the first half of 2020.
Blackberry today is focused on cybersecurity, IoT, embedded systems and critical event management technology.
For its fiscal 2022 first quarter (ended May 31) BlackBerry reported revenue of $174 million, down 15.5 percent from $206 million in the first quarter of fiscal 2021. The company reported a $62 million net loss for the quarter compared to a loss of $636 million one year before.
Based on the June 30 stock closing price, BlackBerry’s market cap stood at $6.92 billion, up 86 percent from its $3.71 billion market cap at the close of 2020.
Decliners No. 8: ServiceNow
CEO: Bill McDermott
Dec. 31, 2020 Close: $550.43
June 30, 2021 Close: $549.55
Change: -0.16%
Workflow software developer ServiceNow is the first company on our watch list that recorded a stock price decline – albeit a very small one – in the first half of 2021.
In May ServiceNow struck a deal to buy observability technology developer Lightstep in what ServiceNow described as one of its biggest acquisitions. That followed a deal in March to buy RPA tech developer Intellibot.
For its 2021 first quarter (ended March 31) ServiceNow reported revenue of $1.36 billion, up 30 percent from $1.05 billion in the first quarter of 2020. Net income for the quarter was $82 million, up nearly 71 percent from $48 million one year before.
The company will report its second quarter results on July 28.
Based on the June 30 stock closing price, ServiceNow’s market cap stood at $108.51 billion, up 1 percent from its $107.39 billion market cap at the close of 2020.
Decliners No. 7: Verizon Communications
CEO: Hans Vestberg
Dec. 31, 2020 Close: $58.75
June 30, 2021 Close: $56.03
Change: -4.63%
At the start of 2021 Verizon Communications said the company’s 5G footprint would nearly double during the year. In July the company announced that its 5G business internet service was available in 42 U.S. cities.
In May the company sold its struggling Verizon Media business unit, including AOL and Yahoo assets, to private equity firm Apollo Global Management for $5 billion.
For the second quarter of 2021 (ended June 30) Verizon reported operating revenue of $33.76 billion, up nearly 11 percent from $30.45 billion in the second quarter of 2020. Net income for the quarter was $5.95 billion, up nearly 23 percent from $4.84 billion one year before.
Based on the June 30 stock closing price, Verizon’s market cap stood at $231.97 billion, down 5 percent from its $243.11 billion market cap at the close of 2020.
Decliners No. 6: Netgear
CEO: Patrick Lo
Dec. 31, 2020 Close: $40.63
June 30, 2021 Close: $38.32
Change: -5.69%
With the sudden work-from-home movement spurred by the COVID-19 pandemic, networking equipment manufacturer Netgear saw demand for its Wi-Fi routers surge in 2020.
For its 2021 second quarter (ended June 27) Netgear reported revenue of $308.8 million, up more than 10 percent from $280.1 million in the second quarter of 2020. The company reported net income of $17.8 million, up nearly three-fold from $5.98 million one year before.
Based on the June 30 stock closing price, NetGear’s market cap stood at $1.17 billion down 5 percent from its $1.23 billion market cap at the close of 2020.
Decliners No. 5: Citrix Systems
CEO: David Henshall
Dec. 31, 2020 Close: $130.10
June 30, 2021 Close: $117.27
Change: -9.86%
Citrix Systems started off 2021 with a deal to buy Wrike, a developer of work management and collaborative workspace software, for $2.25 billion. The acquisition was completed March 1.
For its 2021 first quarter (ended March 31) Citrix reported revenue of $775.8 million, down nearly 10 percent from $860.9 million in the first quarter of 2020. Net income for the quarter was $90.0 million, down 50 percent from $181.2 million one year before.
Based on the June 30 stock closing price, Citrix’s market cap stood at $14.56 billion, down 9 percent from its $16.02 billion market cap at the close of 2020.
Decliners No. 4 : FireEye
CEO: Kevin Mandia
Dec. 31, 2020 Close: $23.06
June 30, 2021 Close: $20.22
Change: -12.32%
On June 2, FireEye announced a deal to sell its products business to private equity firm Symphony Technology Group for $1.2 billion, essentially undoing FireEye’s 2014 acquisition of security service provider Mandiant. STG is also acquiring the FireEye name, so following the completion of the deal the company will operate under the Mandiant Solutions banner.
In December 2020, FireEye was very much in the news as it was the first to report the state-sponsored cyberattack that targeted multiple IT companies and U.S. government agencies, including the Department of State and the U.S. Treasury.
On April 7, FireEye named John Watters as the company’s president and chief operating officer
For its 2021 first quarter (ended March 31) FireEye reported revenue of $246.3 million, up nearly 10 percent from $224.7 million in the first quarter of 2020. The company reported a $50.6 million net loss for the quarter compared to a $76.3 million net loss one year earlier.
FireEye will report its second quarter results on Aug. 5.
Based on the June 30 stock closing price, FireEye’s market cap stood at $4.82 billion, down 11 percent from its $5.41 billion market cap at the close of 2020.
Decliners No. 3: Check Point Software Technologies
CEO: Gil Shwed
Dec. 31, 2020 Close: $132.91
June 30, 2021 Close: $116.13
Change: -12.63%
For the first quarter of 2021 (ended March 31) Check Point Software Technologies reported revenue of $507.6 million, up more than 4 percent from $486.5 million in the first quarter of 2020. Net income for the quarter was $182.9 million, up more than 2 percent from $178.7 million one year before.
Check Point will report its second quarter results on July 26.
Based on the June 30 stock closing price, Check Point’s market cap stood at $15.71 billion, down 16 percent from its $18.63 billion market cap at the close of 2020.
Decliners No. 2: Snowflake
CEO: Frank Slootman
Dec. 31, 2020 Close: $281.40
June 30, 2021 Close: $241.8
Change: -14.07%
Snowflake made a big splash when the company went public in September 2020 and the data cloud service provider’s stock hit a high of $390 per share on December 8.
But the company’s share price declined to around $300 by year’s end and continued to drop through February and March. It rebounded somewhat in April and has hovered in the $240 to $250 per share range in recent months.
For the fiscal 2022 first quarter (ended April 30, 2021) Snowflake reported revenue of $228.9 million, up 110 percent from $108.8 million in the first quarter of fiscal 2021. The company reported a net loss of $203.2 million for the quarter compared to a $93.6 million loss one year earlier.
In March Snowflake acquired an equity stake in business analytics software developer ThoughtSpot through a $20 million investment.
Based on the June 30 stock closing price, Snowflake’s market cap stood at $71.60 billion, down 10 percent from its $79.66 billion market cap at the close of 2020.
Decliners No. 1: Splunk
CEO: Doug Merritt
Dec. 31, 2020 Close: $169.89
June 30, 2021 Close: $144.58
Change: -14.90%
Splunk, a developer of machine data management software, experienced a slowdown in its deal closing rate in 2020, which executives attributed to economic uncertainty from the COVID-19 pandemic and customers’ financial difficulties. That led to several quarters of revenue declines during the year.
But the deal closing rate rebounded in the fiscal 2021 fourth quarter (ended Jan. 31, 2021), CEO Doug Merritt said during the company’s earnings call in March.
In June Splunk announced a $1 billion investment from private equity investment company Silver Lake.
Splunk has undergone a number of changes in its management ranks this year. In April the company hired Teresa Carlson for the newly created post of president and chief growth officer. In May the company hired AWS executive Shawn Bice to fill the newly created position of president of products and technology. And in July the company appointed new chief marketing, chief product and chief cloud officers.
For the fiscal 2022 first quarter (ended April 30, 2021) Splunk reported revenue of $502.1 million, up 16 percent from $434.1 million in the first quarter of fiscal 2021. The company reported a net loss of $471.0 million for the quarter compared to a $305.6 million loss reported one year earlier.
Based on the June 30 stock closing price, Splunk’s market cap stood at $23.70 billion, down 14 percent from its $27.48 billion market cap at the close of 2020.