Growth stocks were slammed throughout most of the week. This caused the Nasdaq to rise a total of 2% for the week. Three tech stocks' earnings reports from last week that are worth taking a closer look at are Activision Blizzard (NASDAQ: ATVI), PayPal Holdings (NASDAQ: PYPL), and Datadog (NASDAQ: DDOG).
Activision Blizzard (NASDAQ: ATVI) on Tuesday gave investors some good reasons to cheer. The video game developer avoided an early 2021 growth slowdown thanks to a flood of popular content releases in franchises like Call of Duty and World of Warcraft. Investors were worried about a potential growth slowdown given Activision's record user gains in 2020.
Flossbach von Storch of Germany bought Apple and Alibaba shares in the first quarter, while slashing positions in videogame publishers Electronic Arts and Activision.