CrowdThnk Blog

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Technology Stocks Soar to New Heights as Hewlett-Packard Showcases a Strong Rally on the Week

"The stock market is filled with individuals who know the price of everything, but the value of nothing." - Phillip Fisher
 

Technology stocks represented the biggest market movers this week as a slew of earnings, led by Google (+3.35%) and Amazon (+12.11%) spearheaded one of the largest advances in the NASDAQ Index (+1.77% WoW) in months. This came on the heels of another bullish equity macro story this week - surprisingly dovish central bank rhetoric from Mario Draghi at the ECB.  Included in this technology stock rally was Hewlett-Packard Enterprises HPE (+1.77%), which went into the week with a CrowdThnk Positioning Score of 7.14, a typically bullish set-up, and represented one of CrowdThnk’s highest conviction predictions of the week.

While the market continues to reach new heights and set record highs, it is incumbent on savvy investors to assiduously utilize tools and research to continue to profit from the market.  With valuations widely recognized as inflated and perhaps in bubble territory by many metrics, stock market participants can continue harvesting returns without being a value investor. CrowdThnk incorporates cutting-edge big data and machine learning technologies in order to give clients a tool to evaluate market positioning which is even more important as the market reaches new highs.