We utilized Trading Central’s Strategy Builder to scan for U.S.-listed technology stocks demonstrating strong earnings growth, upward price momentum and impressive TC Quantamental factor ratings, specifically aiming for high scores in both Growth and Momentum factors.
Next, we screened for tech stocks indicating upside earnings momentum with both EPS and revenue growth above 10 per cent last quarter versus the same quarter a year ago. Celestica Inc., a Toronto-based specialist in producing complex electronic components and systems, such as printed circuit board assemblies, microelectronics and precision-machined components, has been one of the hottest Canadian stocks of the year, up an impressive 84.2 per cent year to date, and ranks the second-highest on our list for one-year price performance at 362.8 per cent. The stock price continues to trend higher.
Trading Central Strategy Builder provides a back-testing capability to evaluate how well an investing strategy would have worked in the past. Using a five-year historical period with quarterly rebalancing, the screen described had an impressive 34-per-cent annualized total return compared with 14 per cent for the S&P 500 index and 16 per cent for the Nasdaq Composite Index.