Written by Sergeo Domtchenko
While global indices have struggled to gain substantial momentum, the tech-heavy NASDAQ continues to stun the world. Last week alone, the index catapulted by more than 6.4% to finish at 8650.14 points. Marking, a 23.8% increase over the last month.
It will be interesting to see if the NASDAQ can maintain its fine form for the remainder of the week. Here are the key company’s to watch on the NASDAQ going forward.
A Promising NASDAQ Watchlist
Before I start, I am obliged to remind our viewers that this is not advice, only general commentary from my extensive research in this area.
1. How high can Amazon Fly?
The ‘stay at home economy‘ is causing internet traffic and online shopping to surge. Thus, it should come as no surprise that Amazon (NASDAQ: AMZN) continues to set the world alight. On Thursday, Amazon hit a new all-time high of $2408.19 and closed the week on a 15% gain. The unprecedented demand for Amazon’s E-commerce services should see its shares continue in an upwards direction. Also, Jeff Bezos’s desire for Amazon to have a monopoly over the warehouse industry could see the company leap into the stratosphere.
2. Is Tesla Back?
Flashback a few weeks, and Tesla were trading at nearly 50% of its value, $430 U.S. Fast forward a month later, and Tesla’s (NASDAQ: TLSA) share price has risen by a whopping 76.3%. In the last week alone, shares rose by 27.5%. Ultimately, screaming extreme investor confidence in the EV giant.
On Wednesday, a New York court ruled that Tesla must face a company lawsuit for comments that Elon Musk made on Twitter during 2018. In the post, Musk claimed that he was considering taking the company back to being private. This controversial post caused the stock to skyrocket as people tried to make off a capital gain from the company buying back its shares. Hence, the court ruled that Tesla should pay out any losses caused by investors that had shorted the stock. Since then, Musk has voluntarily stood down from the board chair.
Will Tesla continue on its rampant rise, or will this incident cause headaches for investors?
3. Two-Sided Apple
Since the 23rd of March, Apple’s (NASDAQ: AAPL) share price has leaped by more than 26%.
With the easing of restrictions in China, Apple opened back up all 42 of its stores in China. If the Chinese economy fires back up, we should see Apple’s manufacturing volumes rise and fewer disruptions in its supply chain.
Also, Apple made headlines this week by revealing its latest iPhone SE model. The SE is designed to be a more affordable phone that affiliates well with price-sensitive consumers. Goldman Sachs is still predicting a significant decrease in iPhone sales as consumers allocate their savings towards necessities. Will Apple’s ploy to reach out to the lower end of the telephone market prove to be a successful manoeuvre for the tech giant?
4. Can anything stop ROKU?
Much like Amazon, ROKU is likely to capitalise off the ‘stay at home economy.’ The world-wide order to bunker down should send a tidal wave of customers towards ROKU’s streaming service, software products, and smart TV’s. The management at ROKU is expecting total streaming hours to jump 49% to a staggering 13.2 billion.
We gave our readers an in-depth update on ROKU yesterday if you want to know if the tech giant is worth the investment, click here.
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The information above should not be taken as financial advice. Youth Investment Group has no liability for personal financial interests or investment decisions. You should make your own investment decisions based upon your own research and what you believe is best for you.
Written by Sergeo Domtchenko, Associate of YIG.