AI Stock Market Roundup w/c August 12th
w/c August 12th 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: $226.05 | Market Cap: $3.44T | Weekly Gain: 6.57% ⬆️
Apple had a strong week of trading, extending it's winning streak to 9 green days in a row. This impressive rally enforces the value that investors see in Apple at these prices. The highly anticipated release of the iPhone 16 with built in Apple Intelligence is releasing in Q4 of this year. This puts Apple is in a strong position to continue to trend higher and push the all time highs that were printed on July 15th around the $137 area.
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Ticker: NVDA | Price: $124.58 | Market Cap: $3.06T | Weekly Gain: 18.99% ⬆️
Nvidia had an impressive week outperforming the broader market and the other semiconductor stocks. Price has rebounded over 35% from the lows seen during the pre-market on August 5th. AMD has climbed 20% in the same time period and highlights Nvidia's market leader status in the industry. This reaction from below the $100 psychological level is really encouraging for the stock which is likely to continue to trend to the upside into the end of the year.
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Ticker: MSFT | Price: $418.47 | Market Cap: $3.11T | Weekly Gain: 3.07% ⬆️
Microsoft performed well this week despite the news of a $500M lawsuit from Delta relating to the tech outages. This steady performance is a great sign for the stock as investors see long term value in the price at these levels even with negative news catalysts being present. Price is sitting around 12% off the all time highs but with recession fears subsiding and rate cuts around the corner there is very little standing in the way of a move to this area in the coming weeks.
What To Watch This Week
Look out for the FOMC minutes releasing @ 2pm EST on Wednesday
Look out for FED Chairman Jerome Powell speaking on the economy @ 10am EST on Friday
Watch out for continued strength in the major AI names off the back of this impressive week of trading
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