5 Top Tech Disruptors to Watch

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Investors have been enamored with the idea of top tech disruptors able to reshape the economy since the dot-com days. Meta Platforms (META) and Tesla (TSLA) didn't exist 25 years ago, but now they're among the biggest companies in the world because of game-changing innovations.

Today, the most disruptive start-ups are owned by private equity. Typically, they're small but high-potential firms operating deeply in the red as they chase new applications for big ideas like artificial intelligence, quantum computing or the blockchain.

But a number of established, publicly traded stocks still qualify as top tech disruptors and offer the promise of significant potential as they ride megatrends to new heights.

There is greater risk when it comes to investing in innovation. There is no guarantee a company's specific technology will scale or that it'll be a dominant player even if it does.

At the same time, the following five top tech disruptors have proven themselves through strong share performance and market capitalizations of more than $1 billion.

Coinbase Global

Industry: Capital markets
Market value: $84.3 billion
12-month total return: 103.0%

Digital assets are known for their disruptive potential, but Coinbase Global (COIN) is, in many ways, the more responsible older sibling of the rough-and-tumble crypto firms in the sector. One of the largest cryptocurrency exchanges in the world has taken great pains to play by U.S. regulatory rules.

As one of the few regulated exchanges – and as a publicly traded company listed on the Nasdaq and subject to strict financial accounting standards – Coinbase offers transparency that many of its peers can’t match.

This crypto leader is using its bona fides to connect with mainstream financial institutions, including offering Visa (V) branded cards that pay rewards in crypto.

This synergy of disruptive new technology and a cooperative approach with incumbent banking and payment firms has made COIN stock increasingly attractive to investors. The stock has doubled in the last 12 months.

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DraftKings

Industry: Hotels, restaurants and leisure
Market value: $21.3 billion
12-month total return: 12.1%

Gambling is one of the oldest pastimes in the world, so it’s no small feat that DraftKings (DKNG) has managed to reinvent the experience with new forms of gaming. Since a 2018 Supreme Court ruling overturned federal prohibitions on sportsbooks, DKNG has emerged as one of the dominant players in the space.

With the NFL season just kicking off, DraftKings is everywhere, offering both traditional sportsbook betting and innovations like daily fantasy contests.

The company is also expanding into online casino gaming, including video poker, Powerball and even digital “scratcher” lotteries.

DraftKings is at the center of what is shaping up to be one of the biggest multi-year growth trends of the 21st century. Analysts estimate the global sports betting market will grow by more than $220 billion from 2025 to 2029 – a compound annual growth rate (CAGR) of nearly 13%.

As it continues expanding into other gambling verticals, DraftKings is among a handful of top tech disruptors to watch, giving an old-school industry a high-tech twist for the digital age.

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Grail

Industry: Biotechnology
Market value: $1.4 billion
12-month total return: 176.0%

Grail (GRAL) is a cutting-edge medical firm developing diagnostics tools aimed at identifying at-risk cancer patients early and through minimally invasive methods. This innovation could be a game-changer on multiple levels: improving outcomes, reducing the total cost of care, and, ultimately, fighting back against deadly cancers around the world.

Following a regulatory battle in Europe, parent company Illumina (ILMN) spun off Grail as a stand-alone biotech firm. That move came at a great time, as its Galleri cancer-screening blood test has gained significant momentum over the past year.

During the second quarter, the product posted greater than 20% year-over-year revenue growth and is expected to grow by as much as 30% for the full year.

The cancer screening niche offers a rare win-win, saving providers substantial costs while saving lives and improving patient outcomes.

Like all development-stage health care stocks and top tech disruptors, Grail carries risk. But its early successes should give investors confidence.

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Palantir Technologies

Industry: Software
Market value: $403.9 billion
12-month total return: 368.9%

You’d have to be living under a rock not to have heard of Palantir Technologies (PLTR). The stock has soared about 370% in the last 12 months, making it one of the top performers in the entire S&P 500 index.

There are good reasons for the buzz around this multibagger stock. Palantir's data analytics and AI platform is forecast to support 30% revenue growth this year and another 30% in fiscal 2026, driven by powerful long-term megatrends.

Unlike smaller AI startups, Palantir benefits from long-standing partnerships with the intelligence community and the Department of Defense, giving it both credibility and stability.

Palantir is already profitable, building real-world AI solutions for paying clients. Those profits are expected to grow significantly, with Wall Street expecting 50% earnings growth this year and 30% next year.

A strong bottom line positions PLTR as more than just another stock riding the AI hype – it's one of the genuine top tech disruptors worth watching.

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ThredUp

Industry: Specialty retail
Market value: $1.3 billion
12-month total return: 1,014.8%

ThredUp (TDUP) is a top tech disruptor in the retail sector, applying a digital approach to thrift shopping. It leverages smart pricing systems and efficient listings to benefit both resellers and buyers.

Unlike platforms such as eBay (EBAY) that rely on sellers to manage everything, ThredUp takes a streamlined approach. Sellers simply send in their items, and ThredUp handles pricing and listing through proprietary algorithms and experience.

On the consumer side, TDUP is capitalizing on sustained demand for high-end fashion paired with a growing preference for more budget-conscious and sustainable shopping.

As the go-to platform for more than 50,000 brands – from Gap to Gucci – shoppers can trust they’re getting verified, quality items, with peace of mind on both ends of the transaction.

The company is not yet profitable, but it's a compelling top tech disruptor because of its 1.5 million active buyers. And TDUP stock has surged more than 1,000% over the trailing 12 months thanks to impressive revenue and margin growth.

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Jeff Reeves writes about equity markets and exchange-traded funds for Kiplinger. A veteran journalist with extensive capital markets experience, Jeff has written about Wall Street and investing since 2008. His work has appeared in numerous respected finance outlets, including CNBC, the Fox Business Network, the Wall Street Journal digital network, USA Today and CNN Money.