Tech Stocks: A Mildly Annoying Assessment

Okay, so everyone’s chasing these “growth stocks,” right? Like it’s some kind of race to see who can accumulate the most…stuff. The idea is simple, apparently: find companies that aren’t completely incompetent, and then just…wait. It’s the waiting that gets me. And the assumption that anyone actually knows what they’re doing. But fine, let’s indulge this fantasy. Two companies keep popping up, and honestly, it’s a little irritating how much attention they’re getting. The Trade Desk and Axon Enterprise. I’m going to try and explain why people are excited, but I make no promises. And if I sound cynical, it’s because I am. It’s a natural defense mechanism.

1. The Trade Desk

So, this company, The Trade Desk, is involved in digital advertising. Digital advertising! It’s already a headache just thinking about it. Billions of dollars spent on flashing images and targeted ads…it’s all so…aggressive. Apparently, they’re doing well because they help advertisers find people to show ads to. Groundbreaking. Statista says the market will be over $950 billion in 2026. Which just means more ads. More noise. They made $13 billion in gross spending last year, earning nearly $3 billion in revenue. An 18% increase. Impressive, I guess, if you’re into that sort of thing. It’s just…a lot of money changing hands for something that mostly annoys people.

They don’t sell their own ad space, which is apparently a big deal. They just connect the people who have ad space with the people who want to buy it. It’s like being a middleman, but with more complicated software. And they retain 95% of their customers. Which means those customers are either incredibly loyal, or they’re too lazy to switch. I suspect it’s the latter. The stock’s down from its high, which, of course, means everyone’s suddenly interested. It’s the same story every time. They’re looking at a trillion-dollar market, and analysts think earnings will grow. All while the stock trades at 11 times earnings. It’s…reasonable. I guess. Still doesn’t make me want to watch more commercials.

2. Axon Enterprise

Axon. They used to just make Tasers. Now they’re building a “tech stack” for law enforcement. A “tech stack.” It sounds…intimidating. Body cameras, in-car cameras, drones, cloud software, AI. It’s like a sci-fi movie, but with more paperwork. They’re combining all this data to…improve public safety? I’m skeptical. But apparently, it’s working. Revenue surged 39% to $797 million, with software revenue up 40%. And annual recurring revenue grew 35% to $1.3 billion. So they’re locking people into contracts. Brilliant.

The stock is down because people are worried AI will disrupt their software. Honestly, it’s a valid concern. But Axon collects a ton of data. Real-world data. Which they can use to train their AI. It’s a data moat. A moat. Like they’re defending a medieval castle. It’s all very dramatic. Bookings from AI products tripled last year to over $1 billion. And they have $14 billion in future contracted bookings. They expect revenue to reach $6 billion by 2028 with a 28% operating margin. It’s…ambitious. And they’re expanding into enterprise, corrections, federal, and international markets. It’s like they’re trying to take over the world. The stock trades at 64 times forward earnings, but analysts predict 38% annual earnings growth. It’s…a gamble. A very expensive gamble. And frankly, I’m exhausted just thinking about it.

So there you have it. Two companies, a lot of hype, and a nagging feeling that I’m missing something. Or maybe I’m just being a realist. It’s a fine line, really. And honestly, I need a nap.

2026-03-22 10:13

1. The Trade Desk

2. Axon Enterprise

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