What happened

Shares of Amazon.com (AMZN -0.09%), Salesforce.com (CRM 1.27%), and Nvidia (NVDA 1.75%) were up 2%, 2%, and 5%, respectively, as investors rotated back into high-quality growth stocks.

So what

Barron's highlighted Amazon's attractive growth prospects -- in e-commerce, cloud computing, digital advertising, logistics, and healthcare -- in a bullish report on Friday. Moreover, with Amazon's share price treading water over the past year, Barron's writers Eric Savitz and Max Cherney noted that Amazon's current market capitalization could arguably be justified by the value of Amazon Web Services alone.

"Growth at Amazon Web Services is accelerating, and revenue from the unit could hit an annualized $100 billion by 2023," Savitz and Cherney said. "Valuing that business at, say, 15 times sales (most cloud application companies fetch higher valuations than that), gives you a market cap of $1.5 trillion, meaning that investors are getting Amazon's e-commerce business and its nascent advertising business almost for free." 

A miniature gold bull is on top of a keyboard button labeled buy.

Image source: Getty Images.

And on Monday, Barclays analyst Raimo Lenschow reiterated his buy rating on Salesforce's stock and boosted his price forecast on its shares from $285 to $291. If he's correct, shareholders could enjoy gains of roughly 12% from the stock's current price near $260.

Investors are likely looking ahead to Salesforce's earnings report on Wednesday. Analysts are also keen to hear about the cloud software giant's progress with its integration of popular messaging platform Slack Technologies, which it acquired for nearly $28 billion in July. 

Meanwhile, investors continued to bid up shares of Nvidia following its impressive earnings report on Wednesday. The semiconductor titan saw its revenue surge 68% year over year to $6.51 billion, while its adjusted net income soared 92% to $2.6 billion.  

Now what 

Amazon, Salesforce, and Nvidia are some of the best businesses on the planet. Although their stocks can sometimes go out of favor among traders, it's typically only a matter of time until investors are reminded of their powerful competitive advantages, massive growth opportunities, and sterling financial performances. Thus, today's gains could be just the start of far larger upward moves in these tech titans' stock prices in the year ahead.