AI Stock Market Roundup w/c July 29th
w/c July 29th 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
.png)
Ticker: AAPL | Price: $219.86 | Market Cap: $3.37T | Weekly Gain: 1.35% ⬆️
Apple had a strong week in comparison to its peers amid a tough week for the tech sector. This outperformance was due to the upbeat earnings report released on Friday. Apple is viewed by investors as a safe bet moving forward into Q3 & Q4 with various analysts upgrading their price targets in line with the latest earnings report.
.png)
Ticker: NVDA | Price: $107.26 | Market Cap: $2.64T | Weekly Loss: 3.57% ⬇️
Nvidia had a week to forget. Price dropped over 10% to start the week but then quickly recovered during Wednesday's session. This swift recovery hinted at the larger uptrend continuing but price continued to slide into the end of the week. This was due to reports being released that Nvidia is being investigated by the DOJ over its acquisition of Run:AI on grounds of breaching antitrust laws. Compounding this negative news was the CEO offloading even more shares, which is never a good sign for any stock.
%2520(2).png)
Ticker: MSFT | Price: $408.49 | Market Cap: $3.04T | Weekly Loss: 4.20% ⬇️
Microsoft like Nvidia felt the pain of the market wide tech selloff this week with price returning to levels not seen since the end of May. Despite releasing a solid earnings report on Tuesday, Microsoft continued to selloff into the end of the week, potentially being dragged down by the overall market. HSBC has maintained a buy rating on the stock but has revised its price target slightly lower from $533 to $529 which is still over $100 above the current market price.
What To Watch This Week
Look out for a reaction in the major tech names this week after a large selloff.
How will Intel stock react after printing its worst day on record on Friday?
US unemployment claims are announced on Thursday @ 8:30am EST, this is a key indicator of the underlying strength of the economy.
Secret Source
Use this link to stay up to date with all of the price movements of your favourite stocks.