The tech stock market experiences its strongest three-week growth since the early days of the Covid-19 pandemic in April 2020.

• This week, the Nasdaq gained 2.4%, resulting in a three-week increase of 12%.
• Since April 2020, when Covid-era stay-at-home requirements boosted tech stocks, the best performance over a three-week period has been achieved.
• Nvidia's earnings report will be the focus of investor attention next week, despite the Thanksgiving holiday.

Tech investors are marching towards Thanksgiving with plenty of holiday cheer.

This week, the Nasdaq experienced a 2.4% increase, resulting in a three-week gain of 12%. This represents the strongest rally since April 2020, when Covid-19 stay-at-home orders boosted e-commerce and cloud software stocks.

This week, the largest technology company among large-cap tech stocks experienced a 13% increase in stock price. Since October 26th, the chipmaker's shares have risen 35%, thanks to the company's better-than-expected profit and sales, driven by increased demand for PCs.

This week, Mizuho Securities analysts upgraded their rating on Intel from neutral to buy, stating that the company's renewed focus on its data center business and strong customer pipeline could lead to increased share gains and improved margins.

Next week, tech investors will focus on semiconductors, as Nvidia is set to report results on Tuesday. The stock has experienced a 22% increase in the past three weeks, resulting in a 237% gain for the year, which is significantly higher than all other S&P 500 members.

Nvidia has experienced significant growth in revenue due to its provision of GPUs for generative artificial intelligence workloads. In its upcoming earnings report, the company is predicted to show a revenue increase of over 170% for the third quarter, with analysts anticipating a forecast for growth of approximately 200% in the fourth quarter, according to LSEG, formerly known as Refinitiv.

Eric Jackson, founder of EMJ Capital, stated in an interview on CNBC's "Closing Bell" that all eyes will be focused on next week's earnings release.

According to Jackson, who considers Nvidia a top large-cap stock, the market is poised for a rebound in the early stages, linked to an end to Federal Reserve rate hikes. The central bank's benchmark borrowing rate is projected to be within a range of 5.25%-5.5% by May, with a full percentage point drop anticipated by the end of 2024, as indicated by the CME Group's FedWatch gauge.

Interest rates have a significant impact on the tech sector, as low borrowing costs can lead to increased risk-taking, while higher rates cause investors to seek safer investments.

This week, the broader market received a positive impact from the tame U.S. inflation data. The Consumer Price Index (CPI) remained unchanged in October compared to the previous month, while economists predicted a 0.1% increase. This data further enhanced the optimism that the Fed's rate-hiking campaign has ended.

This week, the next-biggest large-cap gainer was following Intel, with shares of the electric vehicle company increasing by 9.2%. Despite comments by CEO Elon Musk on his social media site X, where he agreed with a post accusing "Jewish communities" of pushing "hatred against whites," investors remained unfazed.

The White House condemns Musk's post promoting Antisemitic and racist hate, which goes against American values.

WATCH: EMJ’s Erick Jackson expects good earnings report from Nvidia