AI Stock Market Roundup w/c 7th of October

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: $227.55 | Market Cap: $3.46T | Weekly Gain: 0.41% ➡️

Apple had another fairly neutral week of trading, falling to start the week but reversing from Tuesday onwards to finish the week unchanged for the third week in a row. The most notable news of the week was that Apple CEO, Tim Cook sold over $50M worth of company stock, according to recent SEC filings. Although this seems alarming at face value, he was rewarded these shares as part of performance related bonuses and often sells shares in October as part of his personal financial strategy.

Ticker: NVDA | Price: $134.80 | Market Cap: $3.35T | Weekly Gain: 7.94% ⬆️

Nvidia had an impressive week of trading breaking the $130 area, highlighted during last weeks analysis, with ease. The chip maker is up an impressive 8% this week so far. The move is being driven by institutional order flow in the options market, with even the $190 strike price seeing a lot of activity. Morgan Stanley stick with their $150 price target for the stock heading into year end. The market leader status held by Nvidia was further cemented this week as competitor AMD released a new AI chip which disappointed the market.

Ticker: MSFT | Price: $416.32 | Market Cap: $3.09T | Weekly Gain: 0.12% ➡️

Microsoft under-performed the market this week, again, meaning that Nvidia has overtaken Microsoft as the 2nd most valuable company in the world. Overall Microsoft's investment in AI is seen as a positive by analysts but Stephen Yiu of The Blue Whale Growth Fund, which outperformed the S&P 500 by 6% last year, has expressed concerns about the costs associated with this investment. He has the view that investment in AI is not a one time deal and may impact profit margins in the future.

What To Watch This Week

Look out for Unemployment Claims releasing on Thursday at 8:30am EST

Look out for how the S&P 500 reacts as it trades into uncharted territory breaking all time highs last week with relative ease

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