These Stocks Would Have Doubled Your Money Last Year
It isn't unusual for a stock's price to double after a few years. However, many tech stocks doubled, tripled, or even quadrupled their value in 2020 as the pandemic turned the sector into a safe haven for growth-oriented investors.
Tech stocks were naturally insulated from the worst effects of the pandemic and other macro headwinds, while stay-at-home measures lifted PC sales, online shopping, and the usage of cloud-based software. Let's take a look at three tech stocks that rode those tailwinds and doubled in value last year: Advanced Micro Devices (NASDAQ: AMD), Datadog (NASDAQ: DDOG), and JD.com (NASDAQ: JD).
AMD, the world's second-largest producer of x86 CPU and discrete GPU computer chips, saw its stock double in value in 2020. Sales of its Ryzen CPUs surged as rival Intel (NASDAQ: INTC) struggled with chip manufacturing shortages and delays, while stay-at-home measures sparked increased sales of its chips for new PCs.
Source Fool.com
