Nasdaq Scales New Highs: 4 Must-Buy Tech Stocks
Zacks Investment Research | Dec 07, 2020 07:39AM ET
The Nasdaq composite climbed 0.7% to hit a new high of 12,464.23 on Dec 4. The index’s astonishing rise from the lows hit in March has been primarily driven by technology stocks that have shown remarkable resilience amid the coronavirus outbreak. Notably, Nasdaq is up 38.9% year to date.
Tech stocks have primarily benefited from changing consumer preference and behavior. The stay-at-home trend has driven demand for web-based services like e-commerce, contactless payment and delivery.
Moreover, the company’s offering remote-working tech, cloud services and cybersecurity solutions, which support work-from-home, online learning and remote health diagnosis, are expected to continue to benefit in the long haul.
Further, improving global semiconductor sales is a major positive. Per the latest data from The World Semiconductor Trade Statistics (WSTS), the Zacks Investment Research
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