Apple and Alphabet Lead Megacap Tech to Records Ahead of Results
- Wedbush analyst sees ‘significant room to run higher’
- Recent gains were sparked by strong results from Netflix
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Megacap technology and internet stocks rose on Monday, with names like Apple Inc. and Google owner Alphabet Inc. extending advances into record territory as optimism rose about their upcoming earnings results.
The Nasdaq 100, which is heavily weighted toward such names, rose 1.5% to an intraday record. The index is up 5% this month, and has climbed more than 90% from a low in March 2020.