Microsoft and Google owner enjoy best week in years
Microsoft Corp. advanced more than 12%, its biggest weekly jump since April 2015, and it closed at its highest since August.Alphabet Inc. also surged 12%, its strongest weekly gain since 2021. Amazon.com Inc., meanwhile, jumped 9.1% and Apple Inc. rose 4.4%.
That divergence represents the biggest one-week outperformance by the Nasdaq 100 since the financial crisis in October 2008. The idea that big tech is safer has fueled the investor rotation, especially as turmoil in the financial sector — sparked by the collapse of Silicon Valley Bank and Signature Bank — underlines the perception of risk elsewhere in the economy.
In contrast to that uncertainty, major technology and internet stocks offer investors something close to stability in the current market, as their durable revenue streams and market dominance suggest they could be relatively insulated from any economic downturn.
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