The highly volatile past few weeks have shown that there’s always risk in the stock market, no matter how well things seem to be going. To put things into perspective with all of the recent negative news, we’re going to take a look at some of the tech stocks that have been leading growth in the market in recent days.
Volatility has been the story of the stock market in February 2018. The strong bull market might have finally come to an end, at least if you are to believe some of the analysts on wall street. However, there is still a significant portion of experts who believe that the market still has room to grow, and that it hasn’t peaked yet.
Looking at some of the stocks that are still rising, this second group of analysts may actually be correct.
Amazon.com Inc. (NASDAQ: AMZN)
We’ve talked about Amazon more than once, thanks to its ability to resist downward trends in the market this year. The company is still performing strongly and was up +1.46% at market closing on Monday. Despite all of the recent volatility, the stock has still grown 30.14% so far this year, and has increased 80.10% since this time a year ago.
Amazon is a resilient tech company because of its unique and mostly unchallenged position in the market. As a direct supplier of both goods and services to consumers, Amazon is profiting from current consumer confidence increases and the better overall economic situation in the United States.
Qualcomm Inc. – (NASDAQ: QCOM)
There is evidence to suggest that a buyout of Qualcomm could occur this year, with chipset manufacturer Broadcom indicating their desire to acquire the company. This could potentially lead to a significant stock buyout and a healthy profit for current investors. Even ignoring that potential scenario, Qualcomm is still up 4.62% compared to the start of the year, and is up over 18% for the past 12 months.
When trading closed on Monday stocks were up 1.09%, a mild growth, but still a suggestion that Qualcomm stock value could continue to rise compared to the biggest dips in February.
United Parcel Service Inc. – (NYSE: UPS)
Although still a logistics company at heart, UPS is heavily involved in technology and relies on advanced innovations to deliver its services. The company is still down on YTD figures (-9.30%), but has shown a climb in the past 5 days, gaining 3.21% as of Monday closing.
The company’s stock rose after it was announced that they would be seeking damages from the EU for a potential merger that was blocked in 2013. UPS will be seeking at least $2.15 Billion in damages from the European Union. Most industry insiders believe that UPS has strong basis to win this case, as it appears that the 2013 merger was wrongfully prohibited.
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