AI Stock Market Roundup w/c 9th of September

w/c 9th of September Roundup, Plus What to Watch This Week

September 13, 2024

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: $222.50 | Market Cap: $3.38T | Weekly Gain: 0.82% ⬆️

Apple had a positive week of trading producing steady gains, after falling to begin the week. Price dropped on Monday and Tuesday but recovered on both days, showing that buyers were willing to step in and saw value with price below the $220 area. Major news dropped on Friday as the FDA approved the first OTC hearing aid that is compatible with Apple's AirPod Pro. I will be interested to see if the market looks to price in the impact of this news next week.

Ticker: NVDA | Price: $119.10 | Market Cap: $2.92T | Weekly Gain: 15.82% ⬆️

Nvidia had an impressive week of trading, erasing the losses from the previous week and some. The chip maker has been very volatile over the course of the past few months with moves to the upside and the downside being over-exaggerated. The $100 psychological price level was defended strongly by bulls to start the week. News that the US government is weighing up the possibility of letting the chip maker export advanced chips to Saudi Arabia, sent price higher for the remainder of the week.

Ticker: MSFT | Price: $430.59 | Market Cap: $3.20T | Weekly Gain: 7.16% ⬆️

Microsoft also had an impressive week of trading with the tech outage problems firmly behind the computer software giant. The company is trying to focus more on cloud and AI with the recent hiring of former GE CFO Carolina Dydeck Happen as Chief Operating Officer. OpenAI may reach a valuation of $150B with it's latest funding round attracting major attention. Microsofts’ early investment in OpenAI puts them in pole position to benefit from the recent valuation surge which according to reports has jumped $50B in recent months.