The Nasdaq 100 is an index composed of the 100 largest non-financial stocks listed on the Nasdaq exchange. It is often seen as a good measure of the overall health of the technology sector, given its heavy weighting in tech stocks, including Apple, Microsoft, Amazon and Alphabet.
The past few weeks have seen the Nasdaq 100 reach new highs as technology stocks have seen a resurgence of activity. This surge has been driven by momentum traders, who are looking to capitalize on rapid price movements in the stock market. This is particularly true for the Nasdaq 100, as a number of the stocks that make up the index have posted impressive gains.
One of the best performing tech stocks in the Nasdaq 100 has been Apple. After reaching an all-time high in June, Apple share prices have been climbing steadily in the weeks following the release of its latest iPhone and iPad products. This strong performance has been bolstered by Apple’s move to support 5G networks, which is expected to open the door to a new wave of technology products and applications. This is yet another demonstration of how Apple’s products remain in high demand with tech-savvy customers.
Microsoft is another Nasdaq 100 stock that has been a beneficiary of the momentum seen in technology stocks. Microsoft has made significant moves in the past year, including the acquisition of GitHub and recently launching its next generation of cloud services. These moves have helped to boost Microsoft’s share price, which has jumped more than 14% in the Nasdaq 100 since the beginning of the year.
Amazon is another tech giant whose stock price and market position have been bolstered by momentum traders. Amazon recently reached a record high and has kept going in recent weeks. Traders are betting that Amazon’s ambitious plans to expand into various sectors, including healthcare, will keep the stock rising.
Finally, Alphabet, the parent company of Google, has seen its share price surge due to several major developments. Not only has the company announced plans to enter the cloud business, but it has also expanded its hardware and artificial intelligence offerings, which have been met with much enthusiasm by tech-savvy investors. Alphabet’s stock has gained more than 10% in the Nasdaq 100 since the beginning of the year, making it one of the best performing stocks in the index.
All in all, the momentum seen in the Nasdaq 100 has been driven by technology stocks. Major companies such as Apple, Microsoft, Amazon, and Alphabet have seen major gains due to their ambitious plans and aggressive moves in the tech sector. If things continue as they are, the Nasdaq 100 could soon reach new highs, thanks to these tech stocks and momentum traders.