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The Zacks Analyst Blog Highlights: Pinduoduo, NVIDIA, Marvell Technology, ASML Holding and NXP Semiconductors
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For Immediate Release
Chicago, IL – December 9, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Pinduoduo Inc. (PDD - Free Report) , NVIDIA Corporation (NVDA - Free Report) , Marvell Technology, Inc. (MRVL - Free Report) , ASML Holding N.V. (ASML - Free Report) and NXP Semiconductors N.V. (NXPI - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
5 Tech Stocks that Led the Nasdaq ETF Rally
The Nasdaq Composite Index, which was badly beaten down by the Omicron impact, showed a strong reversal on the Dec 7 trading session. The benchmark climbed 3%, marking the best one-day gain since Mar 9. Invesco QQQ, which serves as a proxy to the index, also jumped 3%.
Most of the rally was driven by the comeback in technology stocks as investors jumped into the sector to tap the beaten down prices. Though most of the stocks in QQQ’s portfolio delivered strong returns on the day, a few tech stocks led the way higher. These include Pinduoduo, NVIDIA, Marvell Technology, ASML Holding and NXP Semiconductors.
Optimism that the Omicron variant is less fearful than expected rekindled investors’ confidence in riskier assets. Dr. Anthony Fauci, the White House chief medical adviser, said that early indications of Omicron suggest that it may be less dangerous than the Delta variant (read: 5 Top-Ranked ETFs to Buy At Bargain Prices).
Additionally, British drugmaker GlaxoSmithKline added to the strength by saying that its monoclonal antibodies treatment is effective against all strains of the Omicron variant, based on new data. This will continue to boost technology spending.
Let’s take a closer look at the fundamentals of QQQ.
QQQ in Focus
Invesco QQQ provides exposure to the 102 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Information technology accounts for 50.8% of the assets, while communication services and consumer discretionary make up for 17.8% and 17.4% share, respectively (read: Here's Why You Need to Bet on Big Tech ETFs Right Now).
Invesco QQQ is one of the largest and most-popular ETFs in the large-cap space with AUM of $206.3 billion and an average daily volume of around 41 million shares. Invesco QQQ charges investors 20 bps in annual fees. The fund has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
Below we have highlighted the above-mentioned five best-performing tech stocks in the ETF with their respective positions in the fund’s basket.
Top-Performing Tech Stocks in QQQ
Pinduoduo provides an e-commerce platform allowing users to participate in group buying deals, primarily through Tencent's Wechat app. Pinduoduo climbed 12.5% on Dec 7 and accounts for 0.14% in the fund’s basket.
PDD has an estimated earnings growth of 173.9% for this year and a Zacks Rank #3 (Hold). Pinduoduo carries a top Growth Score of A.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. It makes up for 5% share in the fund’s basket and has gained 8% on a day (read: 5 ETFs That Survived the Last Week's Rout).
NVIDIA has estimated earnings growth of 73.2% for fiscal year (ending January 2022). The stock carries a Zacks Rank #2 and a Momentum Score of A.
Marvell Technology is a fabless designer, developer and marketer of analog, mixed-signal and digital signal processing integrated circuits. MRVL gained 7.1% in a month and accounts for 0.5% in the fund’s basket.
ASML Holding is a world leader in the manufacture of advanced technology systems for the semiconductor industry. The stock has surged 6.6% on a day and has 0.4% exposure in the fund’s basket.
ASML Holding has an estimated earnings growth of 64.4% for this year. ASML has a Zacks Rank #3 and a Growth Score of B.
NXP Semiconductors provides high-performance, mixed-signal and standard product solutions that leverage its RF, analog, power management, interface, security, as well as digital processing expertise.
NXP Semiconductors jumped 6.5% on Dec 7 and its earnings are expected to increase 34.8% for this year. The stock makes up for 0.4% of assets in QQQ and has a Zacks Rank #3. NXP Semiconductors has a Growth Score of B.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights: Pinduoduo, NVIDIA, Marvell Technology, ASML Holding and NXP Semiconductors
For Immediate Release
Chicago, IL – December 9, 2021 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Pinduoduo Inc. (PDD - Free Report) , NVIDIA Corporation (NVDA - Free Report) , Marvell Technology, Inc. (MRVL - Free Report) , ASML Holding N.V. (ASML - Free Report) and NXP Semiconductors N.V. (NXPI - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
5 Tech Stocks that Led the Nasdaq ETF Rally
The Nasdaq Composite Index, which was badly beaten down by the Omicron impact, showed a strong reversal on the Dec 7 trading session. The benchmark climbed 3%, marking the best one-day gain since Mar 9. Invesco QQQ, which serves as a proxy to the index, also jumped 3%.
Most of the rally was driven by the comeback in technology stocks as investors jumped into the sector to tap the beaten down prices. Though most of the stocks in QQQ’s portfolio delivered strong returns on the day, a few tech stocks led the way higher. These include Pinduoduo, NVIDIA, Marvell Technology, ASML Holding and NXP Semiconductors.
Optimism that the Omicron variant is less fearful than expected rekindled investors’ confidence in riskier assets. Dr. Anthony Fauci, the White House chief medical adviser, said that early indications of Omicron suggest that it may be less dangerous than the Delta variant (read: 5 Top-Ranked ETFs to Buy At Bargain Prices).
Additionally, British drugmaker GlaxoSmithKline added to the strength by saying that its monoclonal antibodies treatment is effective against all strains of the Omicron variant, based on new data. This will continue to boost technology spending.
Let’s take a closer look at the fundamentals of QQQ.
QQQ in Focus
Invesco QQQ provides exposure to the 102 largest domestic and international non-financial companies listed on the Nasdaq by tracking the Nasdaq 100 Index. Information technology accounts for 50.8% of the assets, while communication services and consumer discretionary make up for 17.8% and 17.4% share, respectively (read: Here's Why You Need to Bet on Big Tech ETFs Right Now).
Invesco QQQ is one of the largest and most-popular ETFs in the large-cap space with AUM of $206.3 billion and an average daily volume of around 41 million shares. Invesco QQQ charges investors 20 bps in annual fees. The fund has a Zacks ETF Rank #2 (Buy) with a Medium risk outlook.
Below we have highlighted the above-mentioned five best-performing tech stocks in the ETF with their respective positions in the fund’s basket.
Top-Performing Tech Stocks in QQQ
Pinduoduo provides an e-commerce platform allowing users to participate in group buying deals, primarily through Tencent's Wechat app. Pinduoduo climbed 12.5% on Dec 7 and accounts for 0.14% in the fund’s basket.
PDD has an estimated earnings growth of 173.9% for this year and a Zacks Rank #3 (Hold). Pinduoduo carries a top Growth Score of A.
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. It makes up for 5% share in the fund’s basket and has gained 8% on a day (read: 5 ETFs That Survived the Last Week's Rout).
NVIDIA has estimated earnings growth of 73.2% for fiscal year (ending January 2022). The stock carries a Zacks Rank #2 and a Momentum Score of A.
Marvell Technology is a fabless designer, developer and marketer of analog, mixed-signal and digital signal processing integrated circuits. MRVL gained 7.1% in a month and accounts for 0.5% in the fund’s basket.
Marvell Technology has an expected earnings growth rate of 60.9% for fiscal year (ending Jan 2022) and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
ASML Holding is a world leader in the manufacture of advanced technology systems for the semiconductor industry. The stock has surged 6.6% on a day and has 0.4% exposure in the fund’s basket.
ASML Holding has an estimated earnings growth of 64.4% for this year. ASML has a Zacks Rank #3 and a Growth Score of B.
NXP Semiconductors provides high-performance, mixed-signal and standard product solutions that leverage its RF, analog, power management, interface, security, as well as digital processing expertise.
NXP Semiconductors jumped 6.5% on Dec 7 and its earnings are expected to increase 34.8% for this year. The stock makes up for 0.4% of assets in QQQ and has a Zacks Rank #3. NXP Semiconductors has a Growth Score of B.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.