The Nasdaq on Friday scored its first weekly gain in three weeks, boosted higher by strength in the big technology stocks.
The tech-heavy Nasdaq closed up 0.5% on Friday and climbed nearly 2% for the week. The S&P 500 gained 0.2% in the prior five trading sessions, while the Dow finished out the week virtually unchanged. Shares of the 'FAANG' stocks -- Facebook Inc. (FB) - Get Report , Amazon.com Inc. (AMZN) - Get Report , Apple Inc. (AAPL) - Get Report , Netflix Inc. (NFLX) - Get Report and Alphabet Inc. (GOOGL) - Get Report -- all ended the week higher.
Amazon may have had the best week of all the mega-cap names as it continued to benefit from buzz around its stunning $13.7 billion bid for Whole Foods Market Inc. (WFM) . Analysts and investors are now looking to where the e-commerce giant's next big deal will come from, with some speculating it could come from the discount retail, furniture, pharmacy or convenience store sectors.
Shares of Nvidia Corp. (NVDA) - Get Report and Advanced Micro Devices Inc. (AMD) - Get Report also rocketed higher this week thanks to a resurgence in the cryptocurrency mining market. The increasing popularity of Ether, an alternative cryptocurrency, has lead miners to buy desktop graphics cards in droves, which could help the GPU makers rise above a seasonally weaker fiscal second quarter.
Here's a breakdown of TheStreet's top five tech ideas you might've missed:
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1. Amazon is doing just fine in apparel.
Amazon may be using its proposed acquisition of Whole Foods to quickly enter the brick-and-mortar grocery market, but TheStreet's Eric Jhonsa says not to expect a similar move in apparel. Amid endless physical store closings, Jeff Bezos is more likely to stick with an online-centric apparel strategy and a few of the e-commerce giant's recent apparel product decisions and partnerships help illustrate that fact.
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