Tag: Higher

Why OneConnect Financial Technology Rocketed 103.6% Higher in 2020

What happened

Shares of OneConnect Financial Technology (NYSE:OCFT) rocketed 103.6% higher in 2020, according to data provided by S&P Global Market Intelligence. The Chinese fintech player actually had its IPO back in December of 2019, so 2020 marked its first year as a public company. Like many software stocks, OneConnect rocketed higher beginning in April, as investors anticipated the acceleration of the digital economy, which was soon borne out by strong financial results.

Middle-aged Asian man smiles while looking at his laptop.

Image source: Getty Images.

So what

Although the COVID-19 pandemic caused the world economy to plunge into a recession, with financial companies pulling back on lending and

Read more

Why Micron Technology Stock Can Break Higher From 20-Year Highs

Shares of Micron Technology (NASDAQ:MU) have shot up to 20-year highs this fall thanks to a couple of price target upgrades by Wall Street analysts, who predict that the memory specialist has more upside to offer on the back of higher demand from data centers and 5G smartphones.

Deutsche Bank and Mizuho Securities have raised their per-share price targets to $70, indicating an upside of around 10% from Micron’s current stock price. But it wouldn’t be surprising to see the memory specialist break higher and surpass Wall Street’s expectations. Let’s see why.

MU Chart

MU data by YCharts

A favorable DRAM environment

Read more

Nasdaq Closes Higher With Technology Stocks Back in Favor | Investing News

(Reuters) – The Nasdaq closed up 2% on Wednesday as investors switched back to technology stocks and away from economically sensitive sectors as they weighed COVID-19 vaccine progress against a virus surge and likely timing for a economic rebound.

After falling sharply for two days, the tech-heavy Nasdaq was boosted by “stay-at-home” stocks such as Microsoft and Netflix Inc, which closed up more than 2% and Amazon.com Inc and Apple Inc, which advanced more than 3%.

Monday’s encouraging late-stage coronavirus vaccine trial data had prompted a two-day rotation away from technology stocks into sectors that outperform coming out of a

Read more

Earnings Estimates Moving Higher for Amkor Technology (AMKR): Time to Buy?

Investors might want to bet on Amkor Technology (AMKR), as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.

The upward trend in estimate revisions for this chip packaging and test services provider reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool — the Zacks Rank —

Read more