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Apple touches $3 trillion market cap, Tesla stock pops most in two months, AMD up

Yahoo Finance’s Jared Blikre discusses Apple briefly touching $3 trillion in market cap, Tesla shares popping, and AMD gaining momentum after Goldman Sachs mention.

Video Transcript

- But first, I want to get to today's big tickers. Jared Blikre joining us now. And Jared, it looks like those mega-cap companies, kicking off the new year on the right foot-- namely Apple, which is now a $3 trillion company.

- The biggest company in the solar system. That's what I'm going to say. I don't know about the galaxy. I haven't explored enough. But pretty sure safe to say that. Definitely, planet Earth here. And let's go to the Wi-Fi interactive and just kind of chart the price action. And the same thing that I was noting 10 minutes ago, when Apple finally crossed that threshold stands out right now, which is the mega-caps really outperforming here.

So Apple, up almost 2 and 3/4 of a percent. It's been a slow, steady slog upwards today. It looks like, uh, yeah, my candlestick chart not quite working there. But over the last year, as I just pointed out, up 38%. And then, take a look at over the last three years. This is a stock that is up over 400%. For a company this size to post the revenue growth that it has, with more expected down the road by most analysts, is just something incredible to see here.

But not to be outdone, Tesla really making its mark today, too. Up 11%. This is the best day the stock has had in over, I believe, two And it It could very well be a lot longer if it keeps heading higher here. Now, Tesla is another stock-- over three years, up over 1800%. Over the trailing year, it's going to be 67%.

But just take a look over the last three months. It's been really incredible to see the rise from these lows here, just hitting $900 per share and then accelerating into the end of the year. Falling off a little bit in those final, low-volume, low-volatility days, but then accelerating again to begin the new year. On its way to $1,200 per share, which is this area in here.

I do have a couple of notes. We had Dan Ives on from Wedbush Securities earlier in the day. He say, he's saying deliveries underpin electric vehicle demand, which looks robust for Tesla going into 2022. He has a price target of 1,400 rates to stock outperform. He's also saying China demand is notable this quarter, and will be a focus for the bulls digesting these results. So all in all, really big day for the mega-caps including-- I'm going to throw NVIDIA in there, too. NVIDIA's up 2%, guys.

- Yeah, Apple and Tesla really stealing some of those headlines today. But Advanced Micro Devices also making some gains, as the stock remains a top semiconductor pick at Goldman.

- That's right. And let's check out the Wi-Fi interactive again, because we're seeing a lot of-- I'm not going to call it heat, but a lot of dark green on this particular industry group here. So, AMD up 4%. And this is a stock that really hasn't done much over the last couple of months, as you can see. Kind of trading sideways here. But it has had quite the good year over a trailing one-year basis.

You can see it's holding onto gains of about 63%. And here are some highlights from this Goldman note. Now, they're expecting this stock in particular to benefit from positive estimate revisions. Also fueled by market share gains and gross margin expansion. And here's a quote from Goldman here. "We recommend investors own companies and stocks with idiosyncratic drivers that can augment growth in a sustained upturn, or at least partially offset broader industry weakness should a downturn kick in."

So, they like AMD, Marvel Technology, Teradyne, and also Impinge on that basis. They also have another group of stocks they like. And this is based on cyclical growth at low or reasonable multiples. So in other words, the stocks are somewhat cheap. They've been beaten down a little bit, not having that high growth multiple. But thinks they're going to outperform anyway.

And so, in that group, they're counting Micron Technology, Analog Devices, ON Semiconductor, and also Qorvo. And let's take a look at what Qorvo's done over the last year. Kind of lackluster. Only down, it is down about 4%, when a lot of these other names were these high flyers. And if we sort on an equal weight basis, and go to a one-year, look, you can see some of these names at the bottom.

We were just taking a look at Broadcom. Here we go. Here's Broadcom. It is up over 50% over the trailing year. You can see nice-- next to its highs here, its 52-week highs recently. So, Broadcom is in that group and also Micron. Micron is a stock that-- let's see, here-- up 26% over the last year. A lot of these gains being fueled over the last couple of months.

On a two-month basis, it has added 33%. So, Goldman seeing a couple of different reasons for room in this space. And we're certainly seeing this, a lot of green in the space today, guys.