Tag: Skyrocketing

Why Align Technology Stock Is Skyrocketing Today

What happened

Shares of Align Technology (NASDAQ:ALGN) were skyrocketing 32.9% higher as of 10:09 a.m. EDT on Thursday. The huge jump came after the orthodontic-device maker announced stellar third-quarter results after the market closed on Wednesday.

So what

Align didn’t merely beat analysts’ estimates in Q3; it absolutely crushed them. Wall Street expected the company to post revenue of around $514 million. Align generated revenue of $734.1 million in Q3. Analysts looked for adjusted earnings of $0.54 per share. Align more than quadrupled that projection with adjusted earnings of $2.25 per share.

Smiling female patient holding a clear aligner in a dentist's chair

Image source: Getty Images.

How did Align deliver

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5 Skyrocketing Tech Stocks With Solid Growth Potential

The technology sector is booming and at the center of the current market rally. It has shown strong resilience in one of the worst economic environments the United States has ever seen.

Most of the strength is being driven by the biggest names in the sector like Facebook FB, Apple AAPL, Amazon AMZN and Microsoft MSFT courtesy of a purely digital shift in consumer habits to work or entertainment or shopping from home. In fact, the combined market value of the four companies is now close to $5 trillion, with Apple claiming the top spot at nearly $1.5 trillion. Only

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