2 Tech Stocks Reaching Surprise Highs After Q2 2020 Earnings

The economy overall may be down in the dumps, but many companies are doing just fine. Two that have weathered the storm better than expected are The Trade Desk (NASDAQ: TTD) and Applied Materials (NASDAQ: AMAT). Both handed shareholders surprisingly positive second-quarter 2020 updates and rosy outlooks for the summer months, and their respective stocks are pushing to new all-time highs. 

After an epic run the last few years, cloud-based digital ad purchasing platform The Trade Desk reported a 13% year-over-year decline in revenue to $139 million in Q2 2020. It might come as a surprise then that shares are still hovering near all-time highs and holding onto a more than 80% increase year to date.

As with all growth companies, future potential is of far more importance than the past. And though The Trade Desk's revenue was expected to take a hit during the spring as many companies briefly paused their marketing campaigns to reassess the situation, the digital ad industry is overall getting a huge shot in the arm this year.

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Source Fool.com