The stock market closed mixed on Wednesday. S&P 500 and NASDAQ, however, edged higher as technology stocks climbed, particularly NVIDIA (NVDA) and Advanced Micro Devices (AMD).
Overall, S&P 500 went up 0.1% to 5,893, while NASDAQ rose 0.7% to 19,147.
Chart of the Day
Here is the one-year chart of Cadence Design Systems (CDNS) as of May 5, 2025, when the stock was at $309.
Last quarter, the company delivered 34% profit growth on 23% revenue growth. This strong performance was driven by customer demand for its AI-powered tools like Cerebrus and Verisium. These nearly saw 50 new customer wins and over 1,000 successful chip projects.
Cadence Design Systems also teamed up with big companies such as NVIDIA (NVDA), Intel Foundry and MediaTek, while expanding into new markets through acquisitions like Secure-IC and the purchased of Arm’s Artisan IP business that will further boost the company’s IP segment.
Management stated the company is pleased with its continued momentum. It added that AI creates big opportunities for Cadence Design Systems as chips and system design become more complex.
CDNS is part of our Growth Portfolio.
