AI Stock Market Roundup w/c 25th of November

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.

‍

‍

Broader Market Update

The S&P 500 continued to show strength vs the Nasdaq tech index this week. The ETF that includes the top 500 US companies broke to new all-time highs on Friday, after the market was closed on Thursday for Thanksgiving. Both the S&P 500 and Nasdaq were influenced by the consistent performance of Apple, which has reclaimed its' status as the worlds most valuable company. The popular group of "Magnificent Seven" technology stocks led by Nvidia, which together represent a stunning 31% share of the S&P 500's market capitalisation. Their elevated valuations have fed off optimism around artificial intelligence, which has been the main driving force of these historic gains.

‍

Main AI Stock Market Movers

Ticker: AAPL | Price: $237.33 | Market Cap: $3.59T | Weekly Gain: 3.33% ⬆️

Apple had an impressive week of trading, posting 4 green days in the 4 trading days. On Friday price closed at the previous all-time high made in late July and is a testament to the staying power of the tech giant. Wedbush analysts are very bullish on the stock, forecasting a $300 share price, which is a 26% increase from current levels and would value Apple over $4T. Apple is entering a "key" holiday season, with the iPhone 16 marking the beginning of its Apple Intelligence launch, which positions the company for artificial intelligence-driven growth, Wedbush said in a note Friday.

Ticker: NVDA | Price: $138.25 | Market Cap: $3.39T | Weekly Loss: 2.63% ⬇️

Nvidia had a turbulent week of trading, starting the week by selling off to around the $131 support area, before price rebounded on Wednesday and Friday. Nvidia has seen its stock decline 10% since its Q3 earnings report last week, despite posting impressive results. The company recorded a 94% year-over-year revenue increase to $35 billion, bolstered by a 112% surge in its AI-driven data center segment. However, concerns over decelerating growth overshadowed these gains.

Ticker: MSFT | Price: $423.46 | Market Cap: $3.15T | Weekly Gain: 1.54 ⬆️

Microsoft attempted to breakout of the current consolidation range on Tuesday, however price retraced on Wednesday. The chart is signalling that a sustained move to the upside may be around the corner, with the stock looking strong. In other news, Microsoft is under investigation by the Federal Trade Commission for alleged anti-competitive practices, but analysts are not worried, stating the inquiry as having limited impact with a potential change in leadership at the agency.

What To Watch This Week

Look out FED Chairman Jerome Powell speaking at 1:45 pm on Wednesday

Keep an eye on Bitcoin as it threatens to break the $100,000 mark

‍

Secret Source

Follow this link to stay up to date with all of the latest news and current events impacting the currency markets worldwide