Why Major Tech Stocks Like Alphabet and Broadcom Flew Higher on Friday
The end of the trading week saw a notable bull run toward tech stocks. Buoyed by solid quarterly results from some of the sector's big players, investors plowed into a great many companies in the industry. This resulted in a broad rally throughout, lifting share prices in many tech segments.
(NASDAQ: GOOG)(NASDAQ: GOOGL), for instance, saw both of its listed stocks creep up almost 1%, while semiconductor and other components specialist Broadcom (NASDAQ: AVGO) enjoyed a 2% gain. Content delivery network (CDN) and cybersecurity company Cloudflare (NYSE: NET) and cloud services provider Datadog (NASDAQ: DDOG) rose a respective 4% and nearly 6%.
The week was a banner one for tech stocks. On Thursday alone, Meta Platforms (owner of Facebook and Instagram) and Amazon both reported boffo, estimates-beating quarters. That breathed even more life into a resurgent sector that has been looking very robust so far this year.
Source Fool.com
Alphabet Inc. A Stock
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