After several weeks of decline, global stock markets bottomed out last week, for the time-being at least, and experienced a nice little bounce. All our stocks were up during a week in which investors overcame their disappointment at the lack of further quantitative easing in the US by some reassuring sentiments from the powers that be.
Among the biggest gainers were ARM and NVIDIA - both up over ten percent - having been the recipients of analyst upgrades, which were based as much on an observation that the stocks were historically undervalued as any especially bullish new sentiment about the mobile chip market.
Elsewhere there were apparent votes of confidence in the new CEOs of AMD and Apple, with initial fears over the resignation of the iconic Steve Jobs having soon evaporated. The same can't be said for HP, which saw its stock rise only in line with the average for most tech companies after last week's nosedive, but at least that implies things have calmed down a bit.
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