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The Best And Worst Technology Company Stocks In The Third Quarter Of 2018

Thirty-nine of the 44 technology companies on our watch list recorded gains in the price of their publicly traded shares in the third quarter of 2018. Only five recorded price declines. Take a look at the winner and losers in the bunch.

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Despite Growing Fears Of A Trade War, Most Tech Companies See Share Price Gains In The Third Quarter Of 2018

The stock market was on a relatively steady rise in the third quarter of 2018, a marked contrast to the roller coaster the markets were on in the first half of the year. The Dow Jones Index was up 9.01 percent in the quarter (between the June 29 and Sept. 28 closings), while the tech-heavy Nasdaq was up 7.14 percent. (The period of this analysis doesn't include last week's significant decline across all major stock indexes, which hit technology companies especially hard.)

How did the major tech vendors do? Overall, 39 of the 44 tech companies on our watch list saw their stock prices increase in the first half of 2018 while only 5 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 third quarter, starting with companies with the biggest gains in share price, based on stock closing prices on June 29, 2018 and Sept. 28, 2018.

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Advanced Micro Devices

CEO: Lisa Su

June 29, 2018 Close: $14.99

Sept. 28, 2018 Close: $30.89

Change: +106.07%

After seeing its stock price decline in this year's first quarter, the price of AMD shares has been on the rise, more than doubling in value in just the third quarter.

AMD is generally seen as having become much more competitive this year, even gaining a technology lead over rivals such as Intel with its upcoming 7-nanometer process CPUs and graphics chips.

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 to a $42 million loss one year earlier.

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Fortinet

CEO: Ken Xie

June 29, 2018 Close: $62.43

Sept. 28, 2018 Close: $92.27

Change: +47.80%

Security technology developer Fortinet is another company that has rebounded in 2018 after hitting rough patches in recent years.

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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Lenovo Group

CEO: Yang Yuanqing

June 29, 2018 Close: $10.82

Sept. 28, 2018 Close: $14.55

Change: +34.54%

Lenovo's stock rebounded from a decline in the first half of 2018 to a gain in the third quarter.

On Sept. 13, Lenovo announced a strategic alliance with storage system and service provider NetApp, co-developing all-flash arrays and hybrid flash systems to compete against Hewlett Packard Enterprise and Dell EMC in the data storage arena.

For its fiscal 2019 first quarter (ended June 30), Lenovo reported revenue of $11.91 billion, up 19 percent from $10.01 billion in the first quarter of fiscal 2018. Net income for the quarter was $77 million compared to a $72 million loss one year earlier.

 
 
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