Tech Stocks Soar Following Election Results

Tech stocks are experiencing significant gains in the wake of recent election results, contributing to new highs in the market. The Nasdaq 100, in particular, reached a record point, driven by major companies like Lyft and favorable earnings reports from tech giants. Lyft's impressive 27 percent gain highlighted its ability to carve out a niche despite competition with Uber. Additionally, the mixed signals from chip manufacturers Qualcomm and Arm further illustrated the fluctuating dynamics within the smartphone market, with high-end consumer demand in regions like China playing a pivotal role.