Election Day has arrived and tech stocks were one of few leading gainers on the stock market, trading slightly under 2% yesterday.
Leading the way in the tech department was Apple (AAPL); the trillion dollar company’s shares rose 1.54% on Tuesday to $110.44.
Investors have been keeping their eyes on Facebook extensively over the last few days and even more so around this crucial political time, shares rose 1.51% to $265.30.
We can’t mention one of the FAANGs without mentioning E-commerce giant Amazon (AMZN), whose stock was up 1.46% to $3048.41 and Google's (GOOGL) - Get Report parent company Alphabet's shares advanced 1.49% to $1650.21.
Microblogging and social networking service, Twitter (TWTR) jumped up 5.71% to $41.72 on Tuesday at the close of markets yesterday (November 3rd) and as it stands, Twitter is one of the best-performing stocks of October 2020.
Just a week ago, Apple, Amazon, Facebook and Google reported a quarterly net profit of roughly $38 billion collectively.
Analysts expect the 3rd quarter boom to be fairly tame compared with the last quarter of the year, especially since Apple will more than likely see a surge when they release their new iphone for Apple fiends worldwide to get their hands on.
According to reports the revenue from iPhone devices totalled $26.44 billion which was considerably lower than last year, more than 20.7% and slightly off the Street forecast of $26.5 billion which is being blamed on the delayed launch of the iPhone12.
American television personality and host of Mad Money on CNBC, Jim Cramer said, "I found it ridiculous that all the analysts seemed to think that this was a major sea change for Apple. And things are wrong. It's the opposite. It was a really good quarter."
Last Friday, Alphabet revealed solid earnings and revenue that exceeded expectations, the stock was up as high as 8% at the session high.