Why Shares of NVIDIA and AMD Jumped Today
Shares of NVIDIA (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) rose sharply on Tuesday, as semiconductor stocks climbed alongside a broad-based rally in the Nasdaq Composite (NASDAQINDEX: ^IXIC).
By the close of trading, the chipmakers' stock prices were up 8% and 6.2%, respectively.
Following a roughly 10% pullback from its highs in February, the Nasdaq Composite rallied more than 3% on Tuesday. Market prognosticators credited a slight decline in interest rates as one of the reasons for the sharp upward move, but a more compelling reason is that many great stocks had simply fallen to levels that long-term investors found intriguing.
Source Fool.com
