AI Stock Market Roundup w/c 4th 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.

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Main AI Stock Market Movers

Ticker: AAPL | Price: $226.96 | Market Cap: $3.43T | Weekly Gain: 1.81% ⬆️

Apple had a steady week of trading while many of the other mega cap stocks showed extreme volatility. This lack of volatility and slow upward momentum saw Apple lose its throne as the most valuable company in the world, with Nvidia storming ahead. The election result could have benefits for Apple who recently paid over $10B to the European commission for anti-trust violations and President Elect Donald Trump has promised to protect American companies from these types of fines under his government. Tim Cook spoke with President Trump over the phone last month before the election, asking him for help on the matter, it seems that the Apple CEO had a hunch that the election would be red landslide.

Ticker: NVDA | Price: $147.63 | Market Cap: $3.62T | Weekly Gain: 8.43% ⬆️

Nvidia's momentum cannot be stopped with the chip maker becoming the most valuable company in the world and topping a historic $3.6T in market cap. This comes after the election rally which saw AI & tech stocks soar across the board. To compound the election news, Nvidia also landed a spot in the Dow Jones 30 Industrial Average on November 8th, replacing Intel Corp which has seen a 50% drop since the start of the year. Nvidia's AI chips are preferred by Anthropic, an AI startup that is reportedly in talks for a second multi-billion dollar investment from Amazon, which utilises Nvidia-designed AI chips for operations.

Ticker: MSFT | Price: $422.54 | Market Cap: $3.14T | Weekly Gain: 2.94% ⬆️

Microsoft is still recovering from the negative reaction from last weeks earnings, which saw the stock drop over 6%. This drop left a gap in the chart between $432 and $416, which is likely to be filled before price decides a direction. Microsoft is identified by many analysts as a major player driving demand for AI chips, prompting TSMC to double its advanced chip packaging capacity, with completion expected by 2025.

What To Watch This Week

Look out for breaking news relating to the transfer of power between the democrats and the republicans.

Look out for Fed chairman J.Powell speaking at 3pm EST on Thursday

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