News Formal

Trade of the week: Tech stocks post best gain in nearly two years

  • 📰 CNBC
  • ⏱ Reading Time:
  • 24 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 72%

Investment Strategy Nyheter

Stock Markets,Technology Select Sector SPDR Fund,NVIDIA Corp

Technology stocks led the rebound this week as investors' economic concerns dissipated. Nvidia added 19%.

Investors that bought the dip on technology stocks during the recent market pullback are reaping the benefits. As stocks rebounded to end the week and get back to near all-time highs, shares of artificial intelligence heavyweights like Nvidia and Microsoft are among the biggest winners. Stock in the chipmaker added 19% over the five-day stretch, while Microsoft climbed 3%. Shares of iPhone maker Apple notched a 4% gain, respectively.

But the revival of technology stocks should come as no surprise as the fundamental tailwind of AI hasn't materially changed in recent months despite some companies drawing investor ire because of rising capital expenditures to fund AI projects, according to Deepwater Asset Management managing director Gene Munster. "Nothing has changed in the underlying AI trade, I'm surprised that people came back as fast as they did," Munster told CNBC on Friday.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 12. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

This tech stock may hold the key to the market — and it's not NvidiaFrank Cappelleri breaks down the chart in Meta and shows why it could determine the market's fate.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Buy the dip in tech stocks including Nvidia amid market uncertainty, Bank of America saysThe Wall Street investment bank said investors should buy these top tech stocks right now.
Källa: CNBC - 🏆 12. / 72 Läs mer »

Nvidia earnings the next key catalyst for Big Tech: BarclaysNvidia earnings the next key catalyst for Big Tech: Barclays
Källa: Investingcom - 🏆 450. / 53 Läs mer »