When Robinson first shared this tech stock with his readers on Aug. 2, 2013, it opened at just $15.99. Today (Tuesday), the stock closed at $51.09. That's a gain of 220% in 17 months.
And if you missed out the first time, it's not too late. In fact, Robinson sees it doubling again...
This winning tech stock is Ambarella Inc. (Nasdaq: AMBA).
Ambarella is a semiconductor company. It specializes in video-processing semiconductors that deliver high-definition images. Its products are used in a variety of cameras including wearable cameras, security cameras, and automotive cameras.
The company has a $1.55 billion market cap. It has beaten earnings estimates by an average of 28.5% in the last four quarters. Next quarter, Ambarella is expected to report earnings growth of 88.4% from last year. Analysts predict revenue will jump 34.9% in 2015.
And while those numbers are all bullish, it's these three catalysts that make AMBA one of the best tech stocks to buy now...
While those three catalysts are all bullish indicators for Ambarella, Robinson says it's this last one that's most important...
The biggest catalyst is Ambarella's capability to double its profits. Robinson said a close look at the firm's earnings shows how soon this can happen...
"After going through the firm's financials in detail, I'm projecting earnings per share will grow by an average 22% over the next five years," Robinson said. "And I'm being conservative. Over the past three years, the firm has grown EPS by double that.
"Now, we use what I call my doubling calculator - the Rule of 72. Divide the compound growth rate of 22 into 72. We find that it should take Ambarella stock roughly 3.2 years to double once again."
Robinson isn't the only expert bullish on AMBA stock. Money Morning's Executive Editor Bill Patalon recently re-recommended AMBA to his readers. He says the company's move into the 4K TV market will be another major catalyst.
"TV makers have been shifting their manufacturing capacity to be 'all in' on the 4K TV market opportunity," says Accenture's Managing Director John Curran. "This has helped drive down costs. We expect to see many more sets at very compelling consumer price points."
AMBA stock closed yesterday at $51. The stock is up 48% in the last 12 months.
More from Michael Robinson: If you follow only one rule in 2015, let it be this important tech investing rule. With it, you'll easily pick out the market winners from the market losers. In fact, I've got three 2015 winners to show you right here...