| | | My bolding below. I just heard that Tesla is now the seventh most valuable stock in the US. smh....
Sector Briefing: Technology
August 31, 2020
12:56 PM ETPublished August 31, 2020 12:56 PM Eastern Time
Briefing.com
The technology sector (+0.5%) trades with a modest gain today, which is preventing the S&P 500 (unch) from slipping deeper into the red. The largest sector by weight is on track to gain 11.9% for the month, extending its 2020 advance to 34.9%.
Fewer than half of the sector's components trade in the green today, but strong gains in heavily weighted names like Apple (AAPL 129.27, +4.46, +3.6%), NVIDIA (NVDA 537.77, +11.86, +2.3%), Intel (INTC 51.20, +0.77, +1.5%), and AMD (AMD 91.14, +5.59, +6.5%) have been an offsetting factor.
Notable movers:
AMD (AMD 91.14, +5.59, +6.5%): best performer in the sector, surging to a fresh record high. Apple (AAPL 129.27, +4.46, +3.6%): rising to a fresh record. Moness Crespi & Hardt raised its price target for the stock to $144 from $117.50. Seagate (STX 47.88, +1.28, +2.7%): spiking above its 50-day moving average (46.82) to a five-week high. NVIDIA (NVDA 537.77, +11.86, +2.3%): rallying to a fresh record. Company will unveil its next line of video cards tomorrow. Intel (INTC 51.20, +0.77, +1.5%): rising to a five-week high. Qualcomm (QCOM 119.61, +1.41, +1.2%): climbing to a fresh record. Lam Research (LRCX 338.82, -11.96, -3.4%): weakest performer in the sector, falling back below its 50-day moving average (350.21) to a five-week low. |
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