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We're coming up on the six-month anniversary of a chat we had about how a tiny number can yield big profits.
Back on Oct. 27, I noted that the roughly $3 trillion global information technology sector grew just 3.3% in last year's third quarter.
But I went on to say that if you find the right tech leader, then that aggressive company could grow earnings – and your stock profits – by a big multiple over that number.
I recommended to you a specific aggressive IT services company. In fact, I said that this profit powerhouse could double in price in as little as two years.
And already, it looks like my thesis was almost right on the nose.
This company has actually exceeded my forecast. Since that last report, the stock is already up 43%, beating the S&P 500's 5% return by eight-fold during the period.
So, I'm doubling down on that profit prediction.
To show you why, let's go through the five reasons this tech stock will double from here in less than a year…
Check Out That Client List
This company's incredible growth and huge investment returns all stem from the same basic idea we've been discussing for the last several years.
Simply stated, these days, every company is a tech company.
Companies just can't be competitive without tech platforms that provide big productivity gains.
With that in mind, let's look closer at ServiceNow Inc. (Nasdaq: NOW)…
The company formed in San Diego in 2004 when a group of techies and surfers banded together with a simple mission. They wanted to make the complex and all-consuming tasks of running an IT department easy to manage from the cloud.
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Thanks to its intense focus on providing the best IT-as-a-service (ITaaS), ServiceNow has racked up an impressive list of clients and partners.
More than 800 members of the Forbes Global 2000 use ServiceNow products. Its list of partners runs so many pages long, I got tired of hitting the "show more" button on the firm's website.
This tells me that ServiceNow has "winner" written all over it.
I'm really excited about this stock, so let's run it through the five filters of Your Tech Wealth Blueprint for finding quality tech stocks.
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About the Author
Michael A. Robinson is one of the top financial analysts working today. His book "Overdrawn: The Bailout of American Savings" was a prescient look at the anatomy of the nation's S&L crisis, long before the word "bailout" became part of our daily lexicon. He's a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores "what's next" in the tech investing world at Strategic Tech Investor.