AI Stock Market Roundup w/c 23rd of September
w/c 23rd of September Roundup, Plus What to Watch This Week
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
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Ticker: AAPL | Price: $227.73 | Market Cap: $3.46T | Weekly Loss: 0.17% ➡️
Apple had a neutral week of trading, rising to start the week but failing to break above the previous high made in late August. Price seems to be stalling at these levels as analysts expressed concerns about the high price of the Vision Pro virtual reality headset. Meta have a cheaper alternative which may cause Apple to have to pivot, if sales are underwhelming. Overall, this consolidation is a positive sign as price is still up around 7% from the beginning if September.
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Ticker: NVDA | Price: $121.35 | Market Cap: $2.98T | Weekly Gain: 4.63% ⬆️
Nvidia had a mixed week of trading with the chip maker rising 9.58% to start the week but reversed at an area of resistance on Thursday. The $127.50 area provided strong resistance as price rejected, moving lower quickly to the $120 area to end the week. The CEO Jensen Huang, sold 6 million shares for $713M according to recent SEC filings. He is timing his large stock sales by selling into market strength which is good news for investors in the short term but overall isn't a great sign for the price.
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Ticker: MSFT | Price: $428.02 | Market Cap: $3.18T | Weekly Loss: 1.67% ⬇️
Microsoft under-performed the market this week, with the only green day coming on Wednesday. Despite the poor price action this week, positive news broke that Microsoft is collaborating with BlackRock to start a Global AI Infrastructure Investment Partnership. This is to fund new data centres, addressing the growing need for computing power and energy infrastructure. The $125 area should provide support if price is to slip further but if that area is broken be prepared for a deeper retracement.
What To Watch This Week
Look out for Fed Chairman Jerome Powell speaking on Monday @ 1pm EST
Look out for Non-Farm Payroll Numbers being released on Friday @ 8:30am EST
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