Investors have paid a lot of attention Apple (NASDAQ: AAPL) and Tesla (NASDAQ: TSLA) recently, because their stock split announcements have sparked short-term traders’ interest in the two rising stars. These two stocks climbed again on Monday, but they weren’t the only ones contributing to the Nasdaq record. In addition, Advanced micro-systems (NASDAQ: AMD) and Focus on video communications (NASDAQ: ZM) posted solid gains and arguably have more to climb than Tesla or Apple in their respective futures.
Advanced Micro Devices stock rose more than 6% at the end of trading on Monday. Investors continued to push the chipmaker’s shares to record highs thanks to new strength and competitive advantages over some of its biggest rivals.
It’s hard to believe that it was less than five years ago that AMD was a $ 2 stock. The semiconductor company had fought a long battle with Intel (NASDAQ: INTC) in the PC processor market and with NVIDIA (NASDAQ: NVDA) in graphics chips, and AMD had struggled to gain traction in one of its key markets.
However, that has started to change recently. While Intel has struggled to switch to the 7-nanometer chip architecture, AMD has moved ahead of its longtime rival. Plus, the new integrated graphics chips give NVIDIA a run for its money.
The pace of digital transformation is accelerating, and businesses need all the technological power they can get. This is good news for AMD, and it could continue to increase its share price as long as investors remain convinced that growth is not fully embedded in stocks of semiconductor stocks.
Zoom video communications also reached all-time highs, up 6%. Investors are watching closely as the video collaboration specialist is set to report its latest results after the market closed on Monday.
Zoom’s recent growth has been amazing. The COVID-19 pandemic has forced hundreds of millions of people around the world to use video conferencing rather than face-to-face meetings for much of 2020, and Zoom has become the go-to service provider for private businesses and public sector governments. communications and a host of other applications.
The question is whether Zoom’s accelerated sales gains are already sufficiently factored into the stock’s moves so far. Zoom’s share price has tripled since March, and is almost five times higher than December’s level. Yet the company has undoubtedly risen to the challenge.
Investors will know a lot more about Zoom after seeing its second quarter numbers. Based on what we’ve seen from other hot tech companies, today’s gains might just be the beginning if shareholders get the news they’re hoping for.