Big Tech Rebounds as Bulls See Buying Opportunity in Selloff
- Netflix, Facebook lead gains among large technology stocks
- The group’s earnings are expected to show strong growth
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Major U.S. technology and internet stocks rallied on Tuesday after a selloff sent some of the shares into a correction and triggered a wave of bargain hunting.
Megacap tech stocks fueled a gain in the overall market, sending the Nasdaq 100 to its best gain in over a month. Netlifx Inc. led the charge, advancing 5.2% to a record high, while Facebook Inc. rose 2.1% in the aftermath of a global service outage on Monday and Senate testimony from a whistle-blower. Microsoft Corp., Alphabet Inc., Apple Inc. and Amazon.com Inc. all closed with gains of at least 1%.