AI Stock Market Roundup w/c 10th June

Each week I review the biggest movements within the AI stock market from last week and let you know what key market trends to look out for in the coming week, to keep you updated and ahead of the curve.

Main AI Stock Market Movers

Ticker: AAPL | Price: $212.49 | Market Cap: $3.26T | Weekly Gain: 8.77% ⬆️

Apple was the biggest gainer last week rising 14.5% from Monday's low. This move came after Bernstein analysts upgraded the stock citing it as an “essential consumer brand”. This monster move added $198 billion in market capitalization on Tuesday alone. Open AI’s deal with Apple has certainly helped the stock price this week with the partnership aiming to benefit both parties. However, price did fall slightly to end the week with some investors taking profits at these levels.

Ticker: NVDA | Price: $131.88 | Market Cap: $3.24T | Weekly Gain: 11.46% ⬆️

Nvidia continued its impressive rally last week crossing the $3 trillion market capitalization milestone. The AI boom is showing no signs of letting up with NVDA positioned perfectly to take advantage of this evolution in technology and data. In the latest AI MLPerf benchmarks, Nvidia’s chips came out on top. The stock also performed a 10/1 split at the open on Monday, dividing the stock price by 10 but multiplying the amount of shares by 10 also. This is usually performed by companies with a large share price to create the illusion of it being more affordable to everyday investors.

Ticker: MSFT | Price: $442.28 | Market Cap: $3.29T | Weekly Gain: 4.15% ⬆️

Microsoft followed in Apple and Nvidia’s footsteps continuing to fresh all time highs last week. Microsoft had been the most valuable company in the world for a couple of months until this week when Apple regained that title and now the pair both sit around the $3.3T valuation. The Open AI x Apple partnership may be a concern for the CEO of Microsoft but the stock price is not reflecting these woes as the rally continues.

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What To Watch This Week

Retail sales on Tuesday at 8:30 est and unemployment claims on Thursday at the same time. These data points will either confirm this week's bullishness or provide a cause for concern.

The tech rally is poised to continue if the economic data shows that high interest rates are having the desired impact on the economy.

The first rate cut will be a massive signal to the markets and if there is more than just the one cut before EOY then the rally may continue much higher.

However, with stocks and indices at all time highs, it is worth taking a cautious approach and wait for a potential pullback to a technical support area before deploying significant amounts of capital.

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Secret Source

Use this link to view all the red folder news events for the week and to stay up to date with market moving economic events.