Cathie Wood's Ark Innovation ETF, which focuses on such stocks, has plunged by nearly 75% from its early 2021 peak, and some individual companies have fallen further. Advanced Micro Devices (NASDAQ: AMD), Meta Platforms (NASDAQ: META), and Twilio (NYSE: TWLO) are likely three such stocks. Jake Lerch (Advanced Micro Devices): There's plenty of carnage in the stock market among tech stocks, and AMD is no exception.
The stock market downturn hasn't deterred Wall Street analysts from recommending these three innovative companies.
Plenty of high-growth cloud stocks skyrocketed in value over the past two years, yet quickly surrendered all those gains this year as rising interest rates drove investors back toward more conservative investments. Twilio's (NYSE: TWLO) cloud-based communication platform handles text messages, voice calls, videos, and other integrated features in mobile apps. Instead of building those features from scratch -- which can be buggy, time-consuming, and difficult to scale as an app gains more users -- developers can outsource the work to Twilio with just a few lines of code.