Tech rallied with strong gains from Apple and Intel that leveraged the broader marketUpdated time: 25 Jan, 2022, 13:42 (UTC+04:00)
Tech rallied with strong gains from Apple and Intel that leveraged the broader market. SP500, DowJones and Nasdaq rose significantly at 2%, 1.4% and 3%.
Apple jumping 4% to acquire the $200 price target is owed to new promising product categories, said by Morgan Stanley. Intel surged as Mobileye - its self-driving car business will publicize in 2022 and could probably fetch a valuation of $50 billion. Other tech guys like MongoDB in the cloud-related segment and Amazon also gained.
Financials and energy racked up gains after more positive updates on Omicron were released. Pharmaceuticals stocks benefited, especially Pfizer as its vaccine can partly protect against Omicron.
Crypto-related stocks were pushed higher thanks to Bitcoin’s rebound, namely Coinbase Global, Marathon Digital and Riot Blockchain.
CIA’s current director – William Burns said the organization was planning to add expertise about cryptocurrencies and block chain to its analysts, given that the challenges in the crypto space could impact on the U.S. This effort is considered to prevent future ransomware attacks, especially since there have been few lately, like Bitmart and its $200M hacked.
Polygon’s MATIC token rose 40% as users favored its lower costs, greater efficiency and scalability. Bitcoin continued to enjoy its bullish zone benefiting from the positive Omicron situation.