In this world of speed and technology, tech stocks have become an important foundation stone for savvy investment portfolios. Stocks representing innovation and progress are a fertile field for investors looking to achieve growth. But with so many companies to choose from, how can one pick the best tech stocks? Such a conundrum frequently sends investors down the maze of research and speculation.

Moving to the crux of it all, we need to point out that not every hot tech stock based on current performance promises great things in terms of future prospects. Picking and choosing the right play for your portfolio becomes crucial in such an environment.

Here are the tech stocks to buy — companies that provide solid stability as well as a thrilling hope of big gains. In this exploration, we’ll discover a carefully chosen group of these stocks. These observations aim to guide you through the tangled web that is technology. Watch for these jewels, which may well be the keystones to building and expanding your investment portfolio.

CrowdStrike Holdings (CRWD)

This strong tech name, CrowdStrike Holdings (NASDAQ:CRWD), has already returned 151.8 % year-to-date — a testament to its own strength in a volatile marketplace.

The company’s most recent quarterly earnings report demonstrates robust revenue growth of 35.3 % to reach $786.01 million, illustrating the power it is gaining and its efficiency in use operations.

From a profitability perspective, CrowdStrike’s net income has increased tremendously. Its $26.7 million bottom line represents an increase of 148.5%. That is evidence the company can turn revenue growth into real profits on its books fairly well. A clearly improved operational viability and profit-making capacity is demonstrated in the expansion of its net profit margin to 3.4%.

CrowdStrike’s balance sheet discloses a firm financial base. Cash and short-term investments increased by 28.3% to $3,170 million, which is pretty big money indeed! With total assets rising 20.7% to $5.83 billion, soaring by over a third in just one year, yet managing at the same time to increase its liabilities only moderately, the company is equipped with strong asset and equity positions going forward.

CrowdStrike’s recent accolades, such as being ranked #3 in the Fortune Future 50 list and its leadership recognition in IDC MarketScape, solidify its status as one of the top tech stocks and a prime candidate for investors seeking growth and innovation. Despite a mixed reaction from Wall Street to its revenue forecast, CrowdStrike’s consistent outperformance in earnings expectations makes it a compelling choice for tech investors.

Snowflake (SNOW)

In the tech stocks changing world, Snowflake’s (NYSE:SNOW) recent accomplishments and strategic moves grab attention. So far this year, Snowflake’s return has jumped more than 47%, a reflection of its strong market position among top tech stocks.

The company’s revenue for the latest quarter shot up 32% over a year ago to $734.2 million, emphasizing its growth trajectory. Yet, operating expenses shot up 34% to $765.9 million as well. Snowflake’s EPS remained relatively flat over the year, and its net income fell to -$214.3 million.

Despite this 11% dip in cash and short-term investments ($3.55 billion), Snowflake’s balance sheet shows a stable foundation. Assets increased by 9% to $7.26 billion; liabilities are up a hefty 27%, at $2.03 billion.

Such financials, coupled with Snowflake’s foray into generative AI and landmarks, including FedRAMP High Authorization and its spot on the 2023 Fortune Future 50 List, make it an attractive alternative for investors seeking tech stocks to buy. A further demonstration of Snowflake’s place at the forefront of tech is its focus on improving data management and analytics capabilities, with developments announced at this year’s Snowflake Summit, as well as an expanded cooperation between itself and Microsoft (NASDAQ:MSFT).

Unity Software (U)

Notable tech stock Unity Software (NYSE:U) moves markets. It had a 46% return this year — strong health despite the shaky sector. Numbers aside, Unity’s quarterly performance is up. Revenue soared 69% year-on-year to $544.2 million. However, this growth is not without difficulties. Operating expenses crept up to $520.3 million, an increase of 15%.

Nonetheless, Unity’s rise continues. Net income was a loss of $124.1 million, an improvement from the year before as it cut the losses in half. It’s a classic case of financial strategizing. Still, the net profit margin is better by 71%, at -23%.

Unity’s balance sheet is similarly revealing. Cash and short-term investments fell slightly to $1.51 billion. But total assets swelled to $7.43 billion, an increase of 57%. This increase was reflected in liabilities, which reached $3.96 billion. Based on these figures, Unity’s price-to-book ratio is about 4.5 times.

A partnership with Apple (NASDAQ:AAPL) reinforces Unity’s place at the top of tech stocks. This creative edge of Unity is particularly evident in its cooperation with Apple’s upcoming Vision Pro VR headset. The market reacted eagerly. Unity’s share price rose nearly 20% upon announcement. The collaboration also gives Unity a competitive edge in virtual reality and AI, not just an improvement in its finances.

In short, Unity Software seems to be a technology company worth watching. Most of its strategic partnerships have helped to increase its appeal as one of the best stocks.

On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.