Today simply hasn’t been a good day for the market overall. Searching through both tech and biotech today, I’ve seen a sea of red. However, as always, even on bad days, there are notable gainers in the market today. Here are some of the strongest stocks in tech today; and what we’re seeing…
Cramer Pushes Ambarella Even Higher
Ambarella Inc (NASDAQ: AMBA)
Ambarella has been on a strong bullish trend for quite some time now; and recent comments by Jim Cramer have fueled the fire. For more than the past month, AMBA has been enjoying strong uptrends as more and more investors place their faith in the camera innovator. With such a strong bullish trend, it’s not at all likely that the momentum would change and we would start to see losses. However, in just about every uptrend, there’s dips to be found. So, if you’re looking for an opportunity to get in on the gains, start looking for dips for great entrance points.
MaxLinear Stock Climbs On Revised Guidance
MaxLinear, Inc. (NYSE: MXL)
MaxLinear recently announced that they have revised their guidance, moving revenue guidance for the second quarter up to between $68 and $72 million. Analysts are expecting this figure to come in at $62.12 million. The increase in guidance is the result of “strong follow-through of demand across the range of (their) expanded technology and market-leading broadband data and video product portfolio”. As a result of the news, the stock is up in a big way. Currently (1:36), MXL is trading at $12.53 per share after a gain of 15.06% so far today. With positive news with regard to demand and expectations, I’m expecting the uptrend to last. So, if you’re not already in, you may want to consider looking for pull-backs as an opportunity to join the frenzy!
LightPath Technologies Is Up On Government Selection
LightPath Technologies, Inc. (NASDAQ: LPTH)
Finally, I saved the biggest gainer for last. LightPath Technologies stock is soaring today; Currently (1:41) up 33.57% so far. The climb is the result of a selection made by the United States Government. LPTH has announced that its Infarared 40 degree Field of Viow molded optical lens assembly will be used in the manufacture of firefighting thermal imaging cameras by a leading supplier of products to defense departments and federal, state and municipal government agencies worldwide. This is a massive deal that is sure to lead to gains. The stock has pulled back a bit from today’s high of $2.34; so, an entrance point might just be on the horizons. This is definitely a stock to watch.
Do You Know Of Any Others?
Know of any gainers or opportunities in the tech market? If so, let us know in the comments below!