Technology Dominates Thursday's 52-Week Highs; AMD Continues to Soar

Thursday, July 30, 2020 2:37 PM | Neal Farmer

During trading Thursday, 76 stocks traded to a 52-week high, while 12 stocks bottomed out at new 52-week lows. The S&P 500 is down -0.5% on the day so far. The market is down overall Thursday after the second quarter GDP report showed a 32.9% annualized economic contraction. Additionally, initial unemployment claims were higher last week than the previous week and continuing claims crept up to 17 million. Technology is outperforming the rest of the market today.

The following stocks traded to 52-week highs: AAWW, AMD, AVTR, BAND, BBY, BC, BGS, BIO, CDNS, CEVA, CHD, COLD, CONE, COOP, COR, CTLT, DLR, DRE, EPAM, EQIX, FBHS, FICO, FLWS, FRPT, FTCH, FVRR, GNRC, GSS, HOLX, HOME, HZNP, IAC.XX10, INOV, IOTS, K, KNDI, LCII, LOCO, LOVE, LRCX, MAS, MKSI, MMSI, MPWR, MTCH.XX10, MTSI, NEO, NOVA, NVMI, OMI, ORLY, OSTK, OSUR, PDFS, PEN, PFSI, PG, PLD, PYPL, QCOM, QLYS, QRVO, QTRX, QTS, RGEN, SAH, SSD, UCTT, UFPI, UPS, VEEV, W, WING, YETI, ZEN, ZTS

The following Stocks traded to 52-week lows: ADES, CVIAQ, FARM, FCFS, GRTS, JCOM, PPC, REV, SOLY, TCDA, TLRD, XOGAQ

Technology: AMD, BAND, CDNS, CEVA, EPAM, FICO, LRCX, MKSI, MPWR, MTSI, NOVA, NVMI, PDFS, QCOM, QLYS, QRVO, UCTT, ZEN,

Technology stocks dominated our list of highs today with 18 out of the 76 total stocks that reached their high coming from the Technology sector. The Technology industry is up 0.41% so far Thursday while the S&P 500 is down -0.5%. Technology has been consistently outperforming the market during the rally from March lows with Thursday's trading being no different. The most noticeable stock to hit its high is AMD after they reported better than expected earnings and continued to skyrocket in stock price after Intel's earnings announcement last week. Intel shares fell while AMD received a boost in price after Intel declared that its advanced chips are delayed and wont be coming until 2021/2022.

Consumer Defensive: FARM, PPC, REV,

The Consumer Defensive industry makes up the majority of our 52-week lows, as 3 out of our 12 52-week lows comes to us from the Consumer Defensive industry. The Consumer Defensive industry is up 0.32% so far Thursday while the S&P 500 is down -0.5% Consumer Defensive is outperforming the market as a whole but a few stocks have led to sector to have the most 52-week lows today. This sector has been doing relatively well in the wake of the global pandemic due to its lower volatilty but the amount of retail based locations in the sector has proven difficult for some companies.

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