AI Stock Market Roundup w/c July 15th Copy

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: $224.31 | Market Cap: $3.44T | Weekly Loss: 4.24% ⬇️

Apple ended it's three week winning streak with the whole market reacting negatively to FED chairman Powell's speech on Monday afternoon. He stated that there will likely only be one interest rate cut by year end and that inflation still has a way to go before it is at the 2% target. This is bad news for all AI stocks, as investors have been anticipating several rate cuts in 2024, hence the correction this week. Apple is currently trading 12% above the 2023 highs so this correction is only minor at the moment.

Ticker: NVDA | Price: $117.93 | Market Cap: $2.90T | Weekly Loss: 8.11% ⬇️

Nvidia had a poor week of trading this week after price failed to re-test the $140 area, sellers have taken control and pushed the stock down significantly. Price is currently at a previous support area ($118) where buyers stepped in on the 25th of June, but it looks like there could be more downside for the AI chip maker. The large amounts of insider selling paired with FED chairman Powell's comments on interest rates could see Nvidia continue to drop this week.

Ticker: MSFT | Price: $437.11 | Market Cap: $3.25T | Weekly Loss: 3.56% ⬇️

Microsoft had a challenging week with losses on Tuesday and Thursday. Negative news broke this week relating to Microsoft and the cyber-security company, Crowdstrike. There was a massive tech outage caused by Crowdstrike updating antivirus software for windows. Microsoft has said that it is taking "mitigation action" to deal with the lingering impact of the outage. Despite the negative news, Microsoft's share price wasn't hit too badly this week but with the solution not yet clear it is worth watching out for more downside into this week.

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What To Watch This Week

Watch for how quickly Microsoft can solve their IT issue.

Q2 earnings are released towards the end of the month. Look out for investors positioning themselves ahead of earnings in names like Apple and Microsoft.

Watch out for Unemployment Claims released on Thursday at 8:30am EST.

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Secret Source

Use this link to stay up to date with all of the upcoming earnings releases.