Forbes has released a run-down of the ten best stocks of 2010, with technology and electronics firms dominating the list.
While countries around Europe have spent the year staring apocalyptical debt crises in the face, 2010 has actually been a relatively good year for stocks in the US.
The title of best performing stock of the year was handed to Acme Packet, a company which specialises in cloud computing, with its stock rising 424 percent in the last year due to increased demand for the session border controllers it manufactures.
Low-cost data storage system producer Isilon Systems also fared well following its purchase of EMC for $2.25 billion last month, seeing its shares trade hands for $34, up from just W$2 last year.
Polypore International, a electric-car battery manufacturer firm saw its stock triple in 2010 following a visit from one Barack Obama, while electronic equipment maker Sauer-Danfoss saw its stock rise after Danish firm Danfoss purchased the remaining shares of the firm that it didn’t already own.
California based fibre-optic transmission producer Finisar saw demand for its services cause stock prices to soar 200 percent this year, while Riverbed Technology, maker of computer backup and networking equipment, saw a similar increase thanks to rising demand for additional bandwidth and the wide-area network optimisation that it specialises in producing.
Another massive success this year as that of online movie rental company Netflix who saw shares more than triple to give a market valuation of more than $9 billion. This has been the result of Netflix successfully transforming from a mail order DVD rental outfit to an online provider.