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Tech Retakes Lead Heading into Q4: Stocks to Watch

Zacks Investment Research·
Tech Retakes Lead Heading into Q4: Stocks to Watch

Following the Federal Reserve's rate hike to 3.75%-4.00% and signals of further increases, technology stocks unexpectedly rallied, with the Nasdaq climbing 2% as strong earnings estimate revisions in semiconductors and memory chips offset concerns about higher discount rates. AMD and SanDisk led the gains, with investors rotating back into growth stocks that don't rely on cheap money.

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