Technology Industry Stocks Are Expected to Gain Increasingly

US stock futures rose in overnight trading as Wall Street continues to rally on optimism over economies emerging from coronavirus-led shutdowns. Dow Jones futures rose more than 100 points, indicating a gain of 0.35% at the opening on Wednesday. The S&P 500 and Nasdaq indexes’ futures were also up, indicating gains of 9 points and 23 points, respectively. They continue to extend their gains so far.

On Tuesday, The Dow Jones Industrial Average climbed 267 points, or 1.05%. The S&P 500 also registered a gain, climbing 0.82%. The Nasdaq Composite was the relative underperformer, gaining 0.6% as investors focused on the economic reopening and rotated out of the stay-at-home plays and some of the biggest tech names shares took a breather. The tech-heavy index gained 0.59% on Tuesday.

Shares of Apple have seen quite the run-up recently. Over the past year, the stock is up more than 80% as investors have applauded the company's continual evolution to a business model that is less dependent on hardware revenue and is more services-based. The 38 analysts are offering 12-month price forecasts for Apple Inc with a median target of $320.00, with a high estimate of 370.00 and a low estimate of $195.43. The median estimate represents a -1.06% decrease from the last price of $323.42.

Twitter — The social media giant’s climbed 1%. The long-term increase is expected as the "TWTR" stock price prognosis for May 28 is $38.401 USD. Their average twelve-month price target is $32.76, suggesting that the stock has a possible upside of 1.54%. The high price target for TWTR is $55.00 and the low-price target for TWTR is $23.00. With a 5-year investment the revenue is expected to be around +19.04%.

Ambarella — The semiconductor company’s stock tumbled 4% in extended trading after Ambarella provided its 2020 first-quarter earnings. The company reported earnings of 4 cents per share excluding some items on revenue of $54.6 million, while FactSet analysts expected a loss of 1 cent per share on revenue of $54.3 million. The long-term increase is expected as the "AMBA" stock price is forecasted at $77.662 as of May 21. With a 5-year investment, the revenue is expected to be around +36.97%.

CrowdStrike — Shares of the cyber-security company climbed 5% in extended trading after CrowdStrike provided its financial results for the first quarter. CrowdStrike said it had earnings of 2 cents per share excluding some items on revenue of $178.1 million, while analysts polled by Refinitiv expected a loss of 6 cents per share with a revenue of $165.4 million. The company also reported a 105% increase in subscribed customers compared to last year and achieved non-GAAP operating profitability for the first time in its history, according to its earnings release.

Advanced Micro Devices, Inc AMD has lost -0.32% or -0.17 points closing at $53.63 with a heavy trading volume of over 36.76 million shares. It opened the trading session at $53.31, the shares rose to $54.11 and dropped to $52.89, the range the price of stock traded throughout the whole day. The daily chart for AMD points out that the company has recorded 36.08% gains over the past six months. However, it is still -96.52% lower than its most recent low trading price. The 34 analysts are offering 12-month price forecasts for Advanced Micro Devices Inc with a median target of $54.50, where a high estimate is at $70.00 and a low estimate of $8.00. The median estimate represents a +1.81% increase from the last price of $53.53.

Lyft — The ride-share company’s stock jumped 4% in extended trading After the Company reported a solid rebound in rides. The company also reported major ride growth in cities, where social-distancing restrictions had been eased, according to the SEC filing. The 35 analysts are offering 12-month price forecasts for Lyft Inc with a median target of $40.00, with a high estimate of $75.00 and a low estimate of $28.00. The median estimate represents a +26.18% increase from the last price of $31.70.