Netflix, Lam Research Deliver Just What FAANGs and Semis Needed
(Bloomberg) -- Strong results from two closely watched technology earnings on Tuesday afternoon could add fuel to a rebound in semiconductor stocks and the megacap FAANG group.
Netflix Inc. blew away estimates with a fourth-quarter subscriber forecast that exceeded all five of the estimates compiled by Bloomberg News. As Netflix soared as much as 17 percent in extended trading, Amazon.com Inc., Facebook Inc., Apple Inc. and Google parent Alphabet Inc. also gained. Meanwhile, semiconductor equipment maker Lam Research Corp. gave chip investors something to cheer about with better-than-expected forecasts for fiscal second-quarter profit and sales.
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