Well, the weekend has arrived and for those of us who follow tech stocks yesterday left us with a sigh of relief with a turn around from what was a roller coaster of a week on the trading floor. Friday’s S&P finished off SPX, +0.01% led by strong reports regarding retail sales and consumer confidence. The insatiable appetite of the US tech stock market is abundantly clear and this week everyone from Robinhood investors to top Wall Street traders are tuning in to find out what will happen this next with on Wall Street.
The two main actors in the current stage is the continued increase of COVID 19 and the prayer for many that another round of stimulus injection will take place. The bulls are betting on consumer confidence and the Bears are just waiting for the floor to cave in. Beyond those obvious choices of Amazon and Alphabet, if you know where to search you do have some beautiful opportunities that abound. Now, let’s dig in and see what we are discussing here. And one can only judge by how well they diversify their tech stock portfolio to see how any one individual might due in a scenario like today’s stock market.
First, what a week for Robinhood. The Millenial investor app had two events take place this week that appeared to jolt the company and alarm users of the app. After a report broke on Thursday regarding nearly 2,000 Robinhood accounts being possibly hacked, and compromising accounts. Followed by the company announcing an alert for random increase in cash reserve. This all while they are debating on how it wants to handle privacy in the future.
From Silicon Valley With Love
In Silicon Valley, all the talk is on San Jose based Xilinx paving a road of innovation in computer processing. AMD is slightly reliant on Xilinx stocks yet with this proposed match and partnership might create some serious projective growth. Hearing device company Eargo has been doing very well. Intel, Nvidia, and Apple all have their sites on advancing microchip processors for future for Artificial Intelligence.
When we look across the globe at the current international market and the international tech stocks steaming ahead such as Netherland’s based NXP semi-conductors performing well in Europe, and Techtronic Industries Co. increasing it’s momentous rally through the Asian markets. And as always the solid music streaming platform Spotify continues to make extensive gains for Sweden.
The European market did see a did throughout the weekend due to the double trouble of a COVID uptick and the upcoming Brexit negotiations.