2023-07-01 14:31:49
US stock markets
The strong performance of technology stocks in the US markets prompted the Nasdaq index to achieve strong gains during the first half of this year, which strongly exceeded the gains of other major indices during this period.
And the US Nasdaq index managed to achieve gains of up to 40 percent, with four consecutive months of gains in the longest continuous monthly gain streak in three years.
The index also recorded monthly gains during last June amounting to 6.59 percent.
For comparison, the Standard & Poor’s 500 index achieved a gain of 16.2 percent during the first half, and the Dow Jones index increased by only 3.88 percent.
An important factor that contributed to this strong performance of the US technology companies index, which is the performance of “Apple” stock, which closed in yesterday’s session, up by 2.31 percent at $193.97, thus exceeding the company’s market value of $3 trillion, for the first time in history.
The stock achieved gains in June of 9.39 percent, and 19.41 percent in the second quarter, and has risen strongly since the beginning of the year by 51 percent.
Other technology companies also witnessed positive performance with the support of the artificial intelligence revolution that swept the world, strongly raising demand for products related to this matter, especially electronic chips, thus jumping the market value of “NVIDIA” above the level of one trillion dollars during the first half of the year.
The technology sector had witnessed a strong correction since the end of 2021, and the Nasdaq index witnessed a remarkable decline in 2022, and then witnessed a strong recovery at the beginning of 2023, but it has not yet reached the peak it reached in December 2021.
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