Results from companies including Amazon.com Inc, Alphabet Inc and Microsoft Corp have lifted the Nasdaq 100 Index by 11% in July, adding about $1.5 trillion to its market value and putting it on a pace for its biggest monthly advance since November 2020.“The leading companies have been putting up some of the better numbers this season, and their position as secular growth leaders still seems intact,” said Mitch Rubin, chief investment officer at RiverPark Funds.
Apple is showing signs of supply chain improvements in China, which bodes well for the coming period, which are seasonally its biggest quarters, Bloomberg Intelligence analyst Anurag Rana said.The initial reaction to Microsoft’s report was decidedly mixed, after both sales and earnings came in below expectations, hurt by foreign-exchange headwinds, an issue it had warned about in early June.
“We’re still looking for growth, but the number of choices we have for that is rapidly narrowing,” said Patrick Burton, a portfolio manager at Winslow Capital Management, which oversees about $26 billion. “Search is doing much better than other forms of digital ads, so it didn’t see the weakness that Meta or Snap saw,” said Winslow’s Burton. The stock is attractive at about 17 times estimated earnings, he said. That’s below its 10-year average and the Nasdaq 100’s multiple of 21 times.Shares fell 0.1% on Friday but are up 4.6% in July. It is on track for its first positive month since March, as well as its biggest monthly gain since October.
الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
مصدر: SABCNews - 🏆 37. / 51 اقرأ أكثر »