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The Best And Worst Technology Company Stocks In The First Half Of 2018

Twenty-eight of the 44 technology companies on our watch list recorded gains in the price of their publicly traded shares in the first half of 2018. Take a look at who were the winners and who were the losers.

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A Majority Of Tech Companies Record Share Price Gains Despite A Volatile Market And Trade War Fears In The First Half Of 2018

Stock markets were on a roller coaster in the first six months of 2018, with some trading days seeing swings of hundreds of points. The Dow Jones Index was down 1.81 percent in the first half of the year (between the Dec. 29, 2017, and June 29, 2018, closings), but the Nasdaq was up a whopping 8.79 percent.

How did the major tech vendors do? Overall, 28 of the 44 tech companies on our watch list saw their stock prices increase in the first half of 2018 while 16 recorded stock price declines – several by some pretty hefty double-digit amounts.

Here's a look at who was up and who was down in the first half of the year, starting with companies with the biggest gains in share price, based on stock closing prices on Dec. 29, 2017, and June 29, 2018.

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Nutanix

CEO: Dheeraj Pandey

Dec. 29, 2017 Close: $35.28

June 29, 2018 Close: $51.57

Change: +46.17%

On March 1, hyper-converged software developer Nutanix struck a deal to acquire Minjar, a developer of software that provides unified cost control and visibility into workloads running on public clouds. Then on March 12 it reached an agreement to buy Netsil, which develops application discovery and operations management tools for cloud environments. The cost of each acquisition was not disclosed.

For its fiscal 2018 third quarter (ended April 30), Nutanix reported revenue of $289.4 million, up nearly 41 percent from $205.7 million in the same quarter one year earlier. The company’s quarterly loss narrowed to $85.7 million from $96.8 million one year before.

On Aug. 1, after the period covered by this stock price analysis, President and Sudheesh Nair announced that he was leaving to become CEO of big data startup ThoughtSpot.

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Advanced Micro Devices

CEO: Lisa Su

Dec. 29, 2017 Close: $10.28

June 29, 2018 Close: $14.99

Change: +45.82%

After seeing its stock price decline in this year's first quarter, the price of AMD shares grew significantly enough in the second quarter to place the company at No. 2 overall for the first half of 2018.

For its second quarter ended June 30, AMD reported revenue of $1.76 billion, up 53 percent from $1.15 billion in the second quarter of 2017. The chipmaker reported net income of $116 million for the quarter compared with a $42 million loss one year earlier.

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Amazon

CEO: Jeff Bezos

Dec. 29, 2017 Close: $1,169.47

June 29, 2018 Close: $1,699.80

Change: +45.35%

Amazon continued its rapid growth in the first half of 2018, racking up total sales of $52.89 billion in the company's second quarter ended June 30, up 39 percent from just under $38 billion in the same quarter one year earlier. Net income surged to $2.53 billion in the quarter from $197 million one year before.

While the online retail giant reported growth across all its businesses, Amazon Web Services CEO Andy Jassy said in May that AWS could one day be bigger than Amazon's core e-commerce business. AWS has a projected $22 billion revenue run rate for 2018.

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Fortinet

CEO: Ken Xie

Dec. 29, 2017 Close: $43.69

June 29, 2018 Close: $62.43

Change: +42.89%

On June 4 Fortinet announced the acquisition of Bradford Networks, a developer of access control technology in a move seen as strengthening its position in providing security for edge computing and Internet of Things networks.

For its second quarter ended June 30, Fortinet reported revenue of $441.3 million, up 21 percent from $363.5 million in last year's second quarter. Net income for the most recent quarter was $49.3 million, more than double the $23.0 million one year earlier.

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NetApp

CEO: George Kurian

Dec. 29, 2017 Close: $55.32

June 29, 2018 Close: $78.53

Change: +41.96%

NetApp, a supplier of hybrid cloud data storage and management services, says that sales of its all-flash array products are running at a $2.2 billion annual run rate, up 50 percent year over year.

For its fiscal 2019 first quarter (ended July 27), NetApp reported revenue of $1.47 billion, up 11.6 percent from $1.32 billion in the first quarter of fiscal 2018. Net income for the quarter was $283 million, also up 11.6 percent from $131 million one year earlier.

 
 
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