While the surging equities space following the Covid-19 disaster has worried some critics regarding a potential correction and possible recession, the framework behind futuristic tech stocks presents a clear counterpoint. Yes, it’s unusual that the economy bounced back after a catastrophic disaster. Yet the forward drive of innovation always aims skyward.

Of course, aiming high and actually achieving a lofty position are two very different concepts. Nevertheless, free-market societies generally push forward with new ideas and fresh ways of looking at old problems. In other words, the economy such as ours will likely not engage in a pity party indefinitely. And with that upward spirit, it’s just easier to trust the tech sector.

Further, the numbers (probably) don’t lie. With innovations like artificial intelligence likely to add trillions of dollars’ worth of economic value, investors are able to have a greater sense of confidence in the digital ecosystem. On that note, below are futuristic tech stocks to consider.

NXP Semiconductors (NXPI)

Based in the Netherlands, NXP Semiconductors (NASDAQ:NXPI) designs and manufactures high-performance mixed-signal semiconductors. These products are vital for myriad industries, including the automotive and industrial sectors. As well, NXP offers solutions for applications related to the Internet of Things (IoT). As a result, it’s one of the top futuristic tech stocks for investors seeking a long-term idea.

Over the trailing 12 months (TTM), NXP posted net income of $2.82 billion, translating to earnings per share of $10.82. During this period, revenue reached $13.28 billion. At the moment, the company’s quarterly sales growth rate (year-over-year) is very modest at 0.2%. Still, the momentum slowdown might present an opportunity. In the past month, NXPI stock slipped about 3%.

To be fair, covering experts anticipate a rather soft performance in fiscal 2024. EPS may dip about 0.6% to land at $13.92. The top line could experience an erosion of 1.5% to reach $13.08 billion. However, a recovery could materialize in fiscal 2025, with earnings rising to $15.94 per share on revenue of $14.27 billion. Based on the importance of the business, NXPI should be on your radar of futuristic tech stocks.

Garmin (GRMN)

A multinational tech giant specializing in multiple consumer-oriented products, Garmin (NYSE:GRMN) provides innovations that everyday people can utilize. It’s a top player in the wearable tech space, producing smartwatches and fitness trackers. The company is also known for its GPS navigation systems and acumen. It’s easily one of the futuristic tech stocks to add to your portfolio.

What stands out about Garmin is the consistency of its financial performance. Between the second quarter of 2023 and Q1 2024, the company’s average EPS hit $1.50. This translated to an earnings surprise of 19.1%. During the TTM period, Garmin posted net income of $1.36 billion or $7.09 per share. Revenue hit $5.46 billion.

For fiscal 2024, experts anticipate modest expansion in the bottom line (1.6%) to hit $5.68 EPS. ON the top line, sales may rise 12% from the prior year to reach $5.86 billion. What’s more, in the following year, EPS may climb to $6.18 on sales of $6.37 billion.

Notably, the company also offers a forward dividend yield of 1.86%. And the payout ratio isn’t bad at all, only 41.18%.

Ambarella (AMBA)

Headquartered in Santa Clara, California, Ambarella (NASDAQ:AMBA) is a fabless semiconductor design company. It’s one of the compelling futuristic tech stocks to buy thanks to its development of video compression and image-processing semiconductors. Manufacturers use this equipment to bolster their wearable cameras, drones and similar integrated technologies. As a driving force in the imaging sector, AMBA deserves a closer look.

What’s great about the business is that investors don’t need to craft a narrative justifying exposure to the idea. While it’s not profitable from an EPS perspective, during the past four quarters, Ambarella mitigated expected losses. The average surprise relative to analysts’ expectations came out to 25%.

During the TTM period, the tech firm incurred a net loss of $171.45 million or $4.27 per share. Revenue in the cycle hit $218.8 million. At the moment, the quarterly sales “growth” rate is 12.3% below breakeven. By the end of the current fiscal year, though, sales could jump 10.7% to reach $250.78 million.

Patient investors could wait till the following year, when sales are projected to soar to $315.05 million. That would be up 25.6%.

Arista Networks (ANET)

Another Santa Clara-based enterprise, Arista Networks (NYSE:ANET) focuses on network computing. As it relates to futuristic tech stocks, Arista designs and sells cloud-networking solutions for data centers. With so much of data-driven protocols migrating to the cloud, Arista enjoys a massive total addressable market. Analysts rate shares a consensus moderate buy with a high-side price target of $349.

Since the beginning of the year, ANET stock has gained almost 46% of equity value. Clearly, Wall Street has its eyes on the underlying enterprise. It’s not at all undeserved. In the past four quarters, the company’s average EPS hit $1.87. In that cycle, the average earnings surprise jumped to 15.58%. It’s been beating expectations and can continue to do so.

During the TTM period, Arista posted net income of $2.29 billion or $7.19 per share. Revenue hit $6.08 billion. For fiscal 2024, analysts are looking for EPS to rise to $7.92, which represents a 14.1% lift from last year. On the top line, sales could jump to $6.71 billion, up 14.5%.

It’s well on its way to another strong year, making ANET one of the futuristic tech stocks to buy.

Innoviz Technologies (INVZ)

Hailing from Israel, Innoviz Technologies (NASDAQ:INVZ) falls under the consumer cyclical sector, specifically under the auto parts industry. Innoviz ranks among the futuristic tech stocks to consider because of its specialty in automotive-grade lidar sensors and perception software. Increasingly, automakers are pushing the boundaries of what’s possible in mobility. Autonomy obviously ranks highly on the list.

To be sure, Innoviz is one of the riskier ideas among futuristic tech stocks. For example, it’s not a profitable enterprise. Further, it hasn’t exactly been impressing against expectations. During the past four quarters, the average surprise came out to 1.58% below parity. During the TTM period, net loss came out to almost $119 million. However, revenue reached $26.92 million and it’s been rapidly accelerating.

That’s why speculators are paying close attention to INVZ stock. For fiscal 2024, covering experts anticipate that sales may rise to $32.45 million. If so, that would imply 55.4% growth from last year. Further, fiscal 2025 could be the breakthrough, with revenue expected to land at $134.8 million.

We would be talking about a 315.4% growth rate in that case.

Coursera (COUR)

Billed as a global massive open online course provider, Coursera (NYSE:COUR) is risky. It’s so risky that my first instinct would be to add a colorful four-letter word in front of “risky.” Yes, it’s that bad. Since the start of the year, COUR stock lost almost 66% of equity value. In the trailing month, it slipped more than 17%.

So, why bother talking about Coursera? First, on a technical note, I couldn’t help but notice a decline in negative acceleration. In the past five weeks, COUR stock lost only 1.2%. That’s progress. On a more important and fundamental note, a ton of learning is occurring online. It’s not just about the professional space. People with all kinds of underappreciated talents are going to the Internet to share their knowledge.

Over time, Coursera may be in a prime position to tap into the broader e-learning sector, not just in the formal education sense but also in the more informal or vocational light. Also, I appreciate the potential here. Analysts anticipate that by year’s end, EPS may jump from one-cent to 18 cents. Further, revenue can rise 10.1% to hit $699.76 million.

Nano-X Imaging (NNOX)

Another Israeli enterprise, Nano-X Imaging (NASDAQ:NNOX) develops digital X-ray solutions based on semiconductor technology. Primarily, Nano-X aims to make medical imaging more accessible to patients globally. The way that the company explains it, innovations such as big data are being underutilized, especially in the healthcare sector.

NNOX stock is a “dreamer” in many ways and thus represents a high-risk, high-reward candidate. However, one shouldn’t dismiss the underlying entity outright. For one thing, it’s one of the few small-capitalization plays that enjoys a unanimous strong buy assessment. Further, the average price target stands at $14.67, implying over 110% upside potential.

Financially, it could use some work. In the TTM period, Nano-X did lost 61.26 million. However, revenue reached just over $10 million and this is where the attention lies. For fiscal 2024, analysts believe that sales could jump 58.1% to hit $15.66 million. Further, the most optimistic view calls for $19.44 million.

In fiscal 2025, this print could jump to $52.34 million, up 234.2%. If you can handle the heat, NNOX could rank among the futuristic stocks to buy.

On the date of publication, Josh Enomoto did not have (either 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.