Tech stocks rally to start August as chipmakers face demand test

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โดย Yahoo Finance·Read original

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US stocks surged on the first trading day of August, with the Nasdaq Composite rising 2.13%. Cboe senior vice president JJ Kinahan noted that tech stocks led the way, and he highlighted that AMD's earnings report tomorrow afternoon will be a big test for the market. Kinahan said chipmakers are feeling the effects of questions about AI spending ROI for the first time, but they continue to report that demand is so strong they cannot keep up. He pointed out that the options market is pricing in about a 9.5% to 10% move in AMD's stock after earnings, which is significant for a $480 stock. Kinahan also observed that retail investors are still buying the dips, particularly in names like Nvidia and Microsoft, and that they are increasingly using options for their convex payoff profiles.