The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been exceedingly resilient over the past year. Even when the market is moving lower, the Nasdaq has tended to find ways to bounce back. That’s what’s happened so far on Monday, as the index was down well over 1% early in the day but bounced back to just a 0.5% loss as of 12:45 p.m. EST.
There were plenty of stocks that doubled in 2020, especially within the tech industry. Companies that were able to meet the needs of businesses looking to build a digital presence and workers trying to find ways to get things done from home did exceedingly well. Yet even as some of those stocks have pulled back sharply to begin 2021, NVIDIA (NASDAQ: NVDA) and Advanced Micro Devices (NASDAQ: AMD) are still headed higher. Let’s look more closely to see why they’re on the rise and what could lie ahead for the two chipmakers .