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Why Shares of NVIDIA and AMD Jumped Today

TheMotleyFool

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Why Shares of NVIDIA and AMD Jumped TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/7835e381-fcae-4834-ba93-4708292dc055.png

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

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