Beaten-down tech stocks got a much-needed breather on November 10. The U.S. inflation rate continued to ease after peaking in June (it increased by 7.7% in October compared to a growth of 9.1% in June). This pushed tech stocks higher. This was also the smallest 12-month increase since January 2022. While shares of Microsoft (NASDAQ:MSFT) and Apple (NASDAQ:AAPL) gained in the high single digits, Meta Platforms (NASDAQ:META), Nvidia (NASDAQ:NVDA), Amazon (NASDAQ:AMZN), and Shopify (NYSE:SHOP)(TSE:SHOP) registered double-digit growth. Beyond big tech, almost all the stocks in the sector closed higher on Thursday.
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Shopify (NYSE:SHOP)
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