Shares of technology companies have emerged as the leading gainers in the market. Palo Alto Networks experienced a significant surge after strong quarterly results, while Nvidia gained momentum ahead of its earnings release. The European Union implem...
Troy D. Hanson
August 22, 2023
Shares of technology companies have emerged as the leading gainers in the market.
Palo Alto Networks Soars after Strong Quarterly Results
Palo Alto Networks experienced a significant surge of nearly 15% in its shares following the release of its quarterly results on Friday. These results surpassed the expectations of analysts.
Nvidia Gains Momentum before Earnings Release
Nvidia, a highly-anticipated tech company, has witnessed a rally in its shares ahead of its upcoming earnings release on Wednesday. KeyBanc analyst John Vinh has revised his price target for Nvidia's stock to $620 from $550. He believes that despite supply constraints, Nvidia has the potential to experience robust demand for artificial intelligence (AI) and benefit from additional capacity, leading to positive outcomes.
European Union Implements New Tech Rules
Leading tech giants, including Meta Platforms, Apple, and Alphabet's Google, primarily based in the United States, will soon face new tech rules imposed by the European Union. This regulatory move represents the largest expansion of digital regulations ever witnessed in the Western world.
Broadcom's Takeover on Track with Clearance from British Regulators
British regulators have granted clearance for Broadcom's planned takeover of VMware. This development removes a major obstacle for the deal, which was initially valued at $61 billion. The final approval now hinges on receiving clearance from Chinese regulators.