AI Stock Market Roundup w/c 30th of September
w/c 30th 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: $226.80 | Market Cap: $3.45T | Weekly Loss: 0.41% ⬇️
Apple had a neutral week of trading, falling to start the week but failing to break below the previous support made at the $222 area. The company is in a strong position with UBS analysts predicting that the app store is poised to grow by double digits in the fourth quarter of this year. After a healthy consolidation over the last few weeks, prices look set to move higher in the near term, with the all time high at $237 a realistic target for the stock.
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Ticker: NVDA | Price: $124.92 | Market Cap: $3.06T | Weekly Gain: 2.88% ⬆️
Nvidia had a mixed week of trading with the chip maker dropping 5.02% to start the week but reversed at an area of support on Wednesday. Price started to gain significant momentum towards the end of the week finishing green on Wednesday, Thursday and Friday. This momentum is a great sign and if it can continue price is likely to re-test the $130 high made in late September. Despite the price rising Nvidia has lawsuit problems from the DOJ and the SEC as they allege the chip maker misrepresented crypto revenues.
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Ticker: MSFT | Price: $416.06 | Market Cap: $3.09T | Weekly Loss: 2.71% ⬇️
Microsoft under-performed the market this week, again. This means that Nvidia is within touching distance of overtaking Microsoft and becoming the second largest company in the world behind Apple. Despite this market under-performance Microsoft continues to invest heavily, in an attempt provide shareholder value. The latest investment has been an additional $750M investment in OpenAI's most recent funding round, valuing the business at over $150B.
What To Watch This Week
Look out for FOMC Meeting Minutes releasing 2pm EST on Wednesday
Look out for Consumer Price Index releasing at 8:30am EST on Thursday
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