This Top Tech Stock to Buy Could Double Your Money

In a society increasingly interconnected and data becoming more valuable, it should come as no surprise that our top tech stock to buy is poised for 100% growth.

The news is packed with stories about major companies mining data and tracking customers, like the Facebook Inc. (NASDAQ: FB) scandal that dogged the company last year. But data mining is exactly what makes tech companies like Facebook and Alphabet Inc. (NASDAQ: GOOGL) so valuable.

But while these companies dominate the news thanks to their extraordinary profits, a smaller, lesser-known company is at the heart of the technology that makes it possible.

This technology includes smart card readers, magnetic stripe readers, optical card recognition, and biometrics. There are also state-of-the-art systems to analyze, store, and report on this massive amount of data.

A perfect example of this tech in use is the new Amazon Go stores, where customers can walk into a brick and mortar store and "grab and go" without having to visit a cash register. This is possible with radio frequency identification (RFID) technology. Every product in the store is tagged with an RFID sensor, and the store will know when a particular customer walks out the door, charging them accordingly.

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RFID has even more mind-blowing potential. One of these chips, when embedded just beneath the skin, can allow a homeowner to wave their hand to unlock their front door. The technology can also be used to track livestock or pets. While there are still some privacy concerns about its use in humans, the technology can help medical professionals identify and monitor serious medical conditions in patients, potentially saving lives.

These are just a few examples of the way this technology can be used, which explains why an explosion in the Automatic Identification and Data Capture (AIDC) market is expected in the coming years. Market research firm Meticulous Research reports that this space could produce revenue of $71.75 billion by 2022.

This is why we want to clue you in on a top tech stock to buy today.

This is a firm that produces the chips necessary for the automatic ID technology. And they also develop the software to make the systems work.

And that's giving them 100% growth potential, which might be too conservative...

Data Tracking Makes This Is a Top Tech Stock to Buy

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Money Morning Defense and Tech Specialist Michael A. Robinson has followed this sector closely, and his favorite tech stock in this space is Zebra Technologies Corp. (NASDAQ: ZBRA).

Zebra is an Illinois-based diversified industrial products company that designs and manufactures a range of AIDC products for the global market. Some of those products include barcode scanners, mobile computers, real-time location systems, and radio frequency identification (RFID) readers. Other related products include self-adhesive labels and software applications and utilities.

The company also delivers a wide range of services, including technical support, maintenance, repair, cloud-based subscriptions, and professional managed services.

Zebra serves a variety of industries including e-commerce and retail, manufacturing, logistics and transportation, health care, warehouse and distribution, hospitality, energy and utilities, education, and government. It sells its products and services through direct marketers, distributors, value-added resellers, and original equipment manufacturers.

The company was founded in 1969 and was still focusing on barcodes in the 1980s. It switched its focus to RFID technology shortly after. The company has grown thanks to some strategic acquisitions, like Xplore Technologies, which it will use to help further integrate its solutions and fuel its growth.

Zebra's platforms now extend to both government and corporate clients. Its technology allows clients to transfer key data into tough, handheld devices that can be used out in the field or in warehouses.

As the e-commerce industry continues to explode, so will the use of massive warehouses, which is going to result in greater demand for the mobile devices that Zebra produces. These are able to display and track items as they travel through the supply chain. In an on-demand world, this technology enables the user to create a real-time inventory system. This reduces loss and improves the speed of products moving through the shipping process.

Statista reports that RFID is going to be a major element of AIDC, close to doubling in value to $24.5 billion by 2020.

Zebra is well-positioned to take advantage of this growth. The company has beat earnings estimates over the past four quarters, with an average "beat" of $0.31 per share.

Its Q3 profits were 10% over analyst forecasts, with $2.88 per share reported compared to $2.60 as the consensus prediction.

One of the things that Robinson likes about Zebra is its operating leverage. In comparison with the prior year, 17% sales growth was responsible for 54% profit growth.

Since the company has produced an annual profit growth of 28% over the last three years, he has given ZBRA a conservative prediction of 100% growth in four years.

This Could Be the Biggest Technology Breakthrough of the Decade

Big Data is estimated to top $80 billion globally by 2024 - and there's one small company smack-dab in the center of it all. It's a 95-year-old technology and research firm based right here in the United States with a technology that's not only game-changing, but also life-changing. Even better, the potential uses for this technology are unfathomable. Read more here...

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