AI Stock Market Roundup w/c July 1st

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.

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Main AI Stock Market Movers

Ticker: AAPL | Price: $226.34 | Market Cap: $3.47T | Weekly Gain: 6.73% ⬆️

Apple had an impressive week breaking the key $220 psychological level and soaring to fresh all time highs. Apple has stated that their latest AI updates and features will only be available on iOS 18, possibly leading to an increase in sales with customers upgrading to utilise the "Apple Intelligence". This upside move means that Apple and Microsoft are both valued equally in the race to be the first $4T company. Bullishness is likely to continue with Apple positioning itself to benefit massively from the AI boom.

Ticker: NVDA | Price: $125.83 | Market Cap: $3.10T | Weekly Gain: 1.17% ⬆️

Nvidia had a mixed week of trading, mainly consolidating in the $120-$130 region. The market is processing the massive stock gains over the past 2 years and the CEO's recent sale of over $29 million worth of shares. I anticipate that if price can continue to trade above the low made on June 24th at around $118, price can trend higher until there is a significant negative news driver. If price does continue higher, keep an eye on the $140 all time high area to provide resistance.

Ticker: MSFT | Price: $467.56 | Market Cap: $3.48T | Weekly Gain: 4.21% ⬆️

Microsoft had a great week gaining in every trading session and closing at all time highs. The foresight to invest early in AI is paying off for Microsoft as the share price continues its upward trajectory. With the stock at unprecedented levels it is hard to predict where it might meet resistance. However, the uptrend is very strong and is showing no signs of weakness at these levels. I will be watching the $470 round number area this week to see how price reacts.

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What To Watch This Week

Look out for FED Chair Powell testifying on Tuesday & Wednesday at 10am EST.

Q2 earnings are released towards the end of the month. Look out for investors positioning themselves ahead of earnings in names like Apple and Microsoft.

Watch out for continued strength in the major AI names.

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Secret Source

Watch this interview with Jack D. Schwager the author of the best-selling book, Market Wizards, for insight on what makes a successful trader.