A pair of major tech names may now be overbought and aren't expected to perform like they did in February.
Some stocks were able to avoid February's downturn. But that doesn't mean they'll kept that upward strength long term. The S & P 500 is on track to end the month down more than 2%, marking a turn from the best January for the broad market index since 2019. Despite the downturn, some stocks were able to buck the trend and post gains of more than 20%.
Pro screened FactSet for the best performers this month. Here are the top 10: A chunk of chipmaker Nvidia 's gains came last week following its quarterly report , when it recorded beats for revenue and per-share earnings. The company also issued expectations for first-quarter revenue that was above the consensus estimate of analysts polled by FactSet.
mountain Month chart Both technology companies rose early in the month. Investors specifically liked Facebook-parent Meta's $40 billion stock buyback. While Fortinet posted mixed quarterly earnings, it was able to provide guidance for the current quarter and upcoming year that was largely in line or slightly above analysts' expectations, according to FactSet. Meta is expected to gain the most of the 10 best performers over the next year at 21.
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