<![CDATA[This is a study of how fundamental elements and firm size affect the stock prices of technology companies listed on the Indonesia Stock Exchange and NASDAQ from 2021 to 2023. The objective is to determine how much influence earnings per share, price to earnings ratio, price to book value, debt to equity ratio, and total assets have on stock prices, and whether their effects differ across the two exchanges. Using a quantitative research design, the study focuses on a sample of 40 companies—twenty from each exchange—using panel data regression and a random effects model. The novelty of this study lies in its causal approach to analyzing the signaling effects of financial indicators across two structurally distinct markets. The findings reveal that the influence of fundamental variables on stock prices varies between the BEI and NASDAQ, highlighting the role of market maturity, investor sentiment, and macroeconomic context. Specifically, earnings per share and price to book value show stronger associations with stock prices in both markets, while the effects of debt to equity ratio and firm size differ. The study concludes that fundamental analysis remains a relevant tool for assessing stock prices in the dynamic technology sector, but its impact is moderated by market characteristics. Future research is recommended to explore macroeconomic and external factors such as government policy or investor sentiment to enrich the understanding of stock price movements in global technology sectors.]]>
