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Shares of NVIDIA Corp. , Super Micro Computer, Inc. and Micron Technology, Inc. shares are trading lower Monday. Here's a look at what's moving the stocks.
What To Know:
The intense growth of early-2024 in the semiconductor sector has slowed recently amid speculation surrounding a possible AI "bubble" as investors grow impatient for returns on the massive capital expenditures involved with AI-infrastructure build-out.
Micron’s stock has shed more than $70 billion in market value since June, and Raymond James recently lowered its price target on the stock from $160 to $125. Investors will be watching when the company reports its fourth-quarter financial results after the market close on Sept. 25.
Read Next: Why Temu Parent PDD Holdings’ Stock Is Down
The market has also digested a recent short report on SMCI, coupled with the company's delayed 10-K filing, and investors were less-than-impressed with Nvidia's second-quarter results.
However, Nvidia shares rose last week after CEO Jensen Huang said the company is experiencing "great demand" for its Blackwell chips causing frustration among some of its customers. Huang also addressed concerns related to the rising geopolitical tensions surrounding key Nvidia-supplier, Taiwan Semiconductor Manufacturing Company Ltd. .
In addition to rising tensions between China and Taiwan, chipmakers face increasing restrictions and scrutiny on exports to China and its allies which may be dragging on the sector as well.
NVDA, SMCI, MU Price Action: According to Benzinga Pro, Nvidia shares are down 2.64% at $116.96, SMCI shares are down 1.17% at $451.81 and Micron shares are down 5.03% at $86.62 at the time of publication Monday.
Read Also:
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Alibaba Group Holding Ltd stock was down Monday as China’s lackluster economic data led to a sell-off, SCMP reports.
The economy also bears the brunt of the U.S. advanced semiconductor sanctions by restricting its access to sophisticated artificial intelligence chips from Nvidia Corp and peers.
Hyperscalers like Alibaba and Baidu, Inc need the chips to accomplish their AI ambitions. AI can prove to be a crucial benefactor for its e-commerce, logistics and cloud businesses, something that Amazon.Com Inc accomplished.
Also Read: Alibaba And Tencent Lap Up Meta’s AI Large Language Model
Last week, the Biden administration announced tariff hikes on Chinese imports, including Chinese electric vehicles, solar cells, steel, aluminum, EV batteries, and critical minerals, effective September 27.
Economic data showed that Chinese industrial production, retail sales, and fixed-asset investment were disappointing in August. Home prices reported a record low in nine years.
Barclays flagged to SCMP the urgency of stepping up policy easing and boosting domestic demand.
The People’s Bank of China (PBOC) told SCMP it could slash banks’ reserve requirement ratio (RRR) by 50 bps, followed by another half-point cut in the first half of next year.
Alibaba stock is down close to 3% in the last 12 months.
Alibaba Stock Forecast For 2030
Predicting the future in stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.
If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.
For Alibaba, over the past 5 years, it's annualized stock performance is -13.4%, and if you assume that trend continues for another 5 years, you can expect a stock to trade at $40.81.
Using a trend line (see how to perform this function here), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price – be it an outside influence or managerial decision making.
Price Action: BABA stock is down 1.04% at $83.81 at the last check on Monday.
Also Read:
Image via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The S&P 500 Index today is down by -0.19%, the Dow Jones Industrials Index is up by +0.40%, and the Nasdaq 100 Index is down by -0.92%.
Stocks today are mixed, with the Dow Jones Industrials posting a new record high. Apple is down more than -3% today to weigh on the overall market on signs of weak demand for the new iPhone. Also, the weakness in chip makers today is a drag on the broader market. However, Intel is up more than +4% to lift the Dow Jones Industrials after the chipmaker officially qualified for as much as $3.5 billion in federal grants to make semiconductors for the Pentagon.
Today’s US economic news was hawkish for Fed policy after the Sep Empire manufacturing survey general business conditions index rose +16.2 to a 2-1/3 year high of 11.5, stronger than expectations of -4.0.
Corporate news today is mixed for stocks. On the negative side, Apple is down more than -2% after TF International said weekend pre-order sales show demand for the company’s iPhone 16 Pro series is weaker than expected. On the positive side, Oracle is up more than +4% after Melius Research upgraded the stock to buy.
This week, the market will focus on Tuesday’s US Aug retail sales report to see if consumer spending is holding up. The consensus is that Aug retail sales will fall by -0.2% m/m but that Aug retail sales ex-autos will increase by +0.2% m/m. The markets will also look to the 2-day FOMC meeting that begins Tuesday and whether policymakers will decide that a -25 bp cut in the fed funds target range would be adequate for a US economy that has shown signs of losing momentum or whether they will decide for a larger -50 bp rate cut instead. Post-meeting comments from Fed Chair Powell on Wednesday will also be scrutinized regarding the Fed’s future policy intentions.
The markets are discounting the chances at 100% for a -25 bp rate cut for the September 17-18 FOMC meeting and at 63% for a -50 bp rate cut at that meeting.
Signs of weakness in China’s economy are negative for global growth prospects. China Aug industrial production rose +4.5% y/y, weaker than expectations of +4.7% y/y. Also, China Aug retail sales rose +2.1% y/y, weaker than expectations of +2.5% y/y. In addition, China Aug new home prices fell -0.73% m/m, the largest decline in 9-3/4 years.
Overseas stock markets today are lower. The Euro Stoxx 50 is down -0.37%. China's Shanghai Composite was closed for the Mid-autumn Festival holiday. Japan's Nikkei Stock 225 was closed for the Respect-for-the-Aged Day holiday.
Interest Rates
December 10-year T-notes (ZNZ24) today are up +2 ticks. The 10-year T-note yield is down -1.5 bp at 3.636%. Dec T-notes today are slightly higher on heightened speculation the Fed will cut interest rates by -50 bp at this week’s 2-day FOMC meeting. Swap markets showed the chances of a -50 bp rate cut rose to 63% today from 52% last Friday. T-notes fell back from their best levels today after the US Sep Empire manufacturing survey general business conditions index rose more than expected to a 2-1/3 year high. Also, rising inflation expectations are negative for T-notes after the 10-year breakeven inflation rate rose to a 1-1/2 week high today of 2.100%.
European government bond yields today are moving lower. The 10-year German bund yield is down -2.7 bp at 2.121%. The 10-year UK gilt yield is down -1.0 bp at 3.758%.
ECB Governing Council member Kazaks said, "There's still more risk inflation will be higher over the medium term than we expect," and the ECB "will almost surely need to wait until December for a clearer picture before making its next move" on interest rates.
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 31% for the October 17 meeting.
US Stock Movers
Apple is down more than -3% to lead losers in the Dow Jones Industrials after TF International said demand for the company’s iPhone 16 Pro series is weak, with first-weekend pre-order sales of about 37 million units, down about -12.7% y/y from last year’s iPhone 15 series first-weekend sales. Apple suppliers are falling as well, with Qorvo down more than -6% to lead losers in the S&P 500. Also, Skyworks Solutions is down more than -6%.
Chip makers are under pressure today and are weighing on the broader market. ARM Holdings Plc is down more than -6% to lead losers in the Nasdaq 100. Also, Micron Technology is down more than -4%, and Broadcom is down more than -3%. In addition, KLA Corp , Lam Research , and ASML Holding NV are down more than -2%. Finally, Nvidia , Marvell Technology , GlobalFoundries , Applied Materials , Microchip Technology , and Texas Instruments are down more than -1%.
Intel is up more than +4% to lead gainers in the Dow Jones Industrials and Nasdaq 100 after the chipmaker officially qualified for as much as $3.5 billion in federal grants to make semiconductors for the Pentagon.
Oracle is up more than +4% after Melius Research upgraded the stock to buy from hold with a price target of $210.
Charles Schwab is up more than +3% after it reported new brokerage account in August rose +4% y/y to 324,000 and that it expects Q3 revenue will climb as much as 3% from Q2.
Elf Beauty is down more than -3% after Piper Sandler cut its price target on the stock to $162 from $260.
MKS Instruments is down more than -3% after Citigroup downgraded the stock to neutral from buy.
Nova Ltd is down more than -5% after Citigroup downgraded the stock to neutral from buy.
Yelp Inc is down more than -2% after Bank of America Global Research initiated coverage on the stock with a recommendation of underperform with a price target of $30.
Exact Sciences is up more than +5% after releasing data from a study of its blood-based colon cancer screening that showed sensitivities of 88% for colorectal cancer and 31% for advanced precancerous lesions at 90% specificity.
Nuvalent is up more than +23% after presenting updated data from two early-stage trials of its lead cancer programs that impressed analysts.
Builders FirstSource is up more than +3% after Truist Securities upgraded the stock to buy from hold with a price target of $220.
Zillow is up more than +4% after Wedbush upgraded the stock to outperform from neutral with a price target of $80.
Earnings Reports (9/16/2024)
None.
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
Rep. Marjorie Taylor Greene, a well-known political figure from Georgia, has made headlines for more than just her political stances. Greene's stock trading activity has caught attention for its volume and timing, with her latest regulatory filings showing investments of approximately $112,000 in a variety of companies. Her recent activity continues a trend of significant investments she has been making throughout 2024.
The Latest Stock Trades: Building on Her Tech-Focused Strategy
In her most recent filing on September 4, 2024, Greene disclosed new stock purchases in companies such as Amazon , Digital Realty Trust , Palo Alto Networks , and FedEx , adding to her already tech-heavy portfolio. This follows earlier purchases disclosed in August, when she added stocks like Alphabet , Intel , Nvidia , and Kinder Morgan . The tech-centric nature of her investments signals her confidence in the continued growth of AI and cybersecurity sectors despite recent market volatility.
Greene's Investment History: Tech Dominates, But Results Vary
Greene's stock trading journey has been filled with aggressive moves, particularly in the technology space. Earlier in 2024, she made notable purchases in Apple, Advanced Micro Devices and Nvidia. This tech-focused strategy has concentrated her portfolio with some of the most innovative and high-growth sectors in the market.
Although Greene holds some of the top tech stocks, her stock returns have been mixed. She faced a major setback when CrowdStrike stock dropped 30% after a significant outage. This was just days after she purchased stocks of the company. Similarly, her Intel investment, which came after the company's stock suffered a significant decline, has not yet paid off, with shares dropping 9% since her purchase. Furthermore, Dell has declined by 13% since her purchase in July.
Following in Pelosi's Footsteps?
Greene's aggressive stock trading has drawn comparisons to former House Speaker Nancy Pelosi, who is widely known for her success in the stock market. Greene may be mirroring Pelosi's trading strategy, buying into some of the same high-profile names. Greene has recently added stocks favored by Pelosi, such as Nvidia and Palo Alto Networks. While some of her trades reflect Pelosi's strategy, Greene has been more concentrated in technology investments, compared to Pelosi.
Two other congressman, John James and Peter Sessions, also announced trades in Nvidia and other chip and cybersecurity plays.
With her continued stock trading activity, Greene, like many other politicians, has been subject to scrutiny. As in the case of other lawmakers, questions about potential access to insider information often arise when politicians engage in substantial stock trading.
Conclusion: Should Investors Follow Greene's Strategy?
Marjorie Taylor Greene's recent stock picks illustrate her confidence in the future of AI, cloud computing, and cybersecurity. While these sectors hold strong growth potential, they also come with heightened risk, especially in a market currently experiencing volatility.
For investors looking to emulate Greene's strategy, it's crucial to conduct thorough research and consider their own risk tolerance. While high-profile politicians like Greene may have access to expert advice, following their trades without due diligence can be extremely risky.
On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
The S&P 500 Index today is down by -0.18%, the Dow Jones Industrials Index is up by +0.47%, and the Nasdaq 100 Index is down by -0.84%.
Stocks today are mixed, with the Dow Jones Industrials posting a new record high. Apple is down more than -3% today to weigh on the overall market on signs of weak demand for the new iPhone. Also, the weakness in chip makers today is a drag on the broader market. However, Intel is up more than +3% to lift the Dow Jones Industrials after the chipmaker officially qualified for as much as $3.5 billion in federal grants to make semiconductors for the Pentagon.
Today’s US economic news was hawkish for Fed policy after the Sep Empire manufacturing survey general business conditions index rose +16.2 to a 2-1/3 year high of 11.5, stronger than expectations of -4.0.
Corporate news today is mixed for stocks. On the negative side, Apple is down more than -3% after TF International said weekend pre-order sales show demand for the company’s iPhone 16 Pro series is weaker than expected. On the positive side, Oracle is up more than +4% after Melius Research upgraded the stock to buy.
The market’s focus this week will be on Tuesday’s US Aug retail sales report to see if consumer spending is holding up. The consensus is that Aug retail sales will fall by -0.2% m/m, but that Aug retail sales ex-autos will increase by +0.2% m/m. The markets will also look to the 2-day FOMC meeting that begins Tuesday and whether policymakers will decide that a -25 bp cut in the fed funds target range would be adequate for a US economy that has shown signs of losing momentum, or whether they will decide for a larger -50 bp rate cut instead. Post-meeting comments from Fed Chair Powell on Wednesday will also be scrutinized regarding the Fed’s future policy intentions.
The markets are discounting the chances at 100% for a -25 bp rate cut for the September 17-18 FOMC meeting and at 69% for a -50 bp rate cut at that meeting.
Signs of weakness in China’s economy are negative for global growth prospects. China Aug industrial production rose +4.5% y/y, weaker than expectations of +4.7% y/y. Also, China Aug retail sales rose +2.1% y/y, weaker than expectations of +2.5% y/y. In addition, China Aug new home prices fell -0.73% m/m, the largest decline in 9-3/4 years.
Overseas stock markets today are lower. The Euro Stoxx 50 is down -0.27%. China's Shanghai Composite was closed for the Mid-autumn Festival holiday. Japan's Nikkei Stock 225 was closed for the Respect-for-the Aged Day holiday.
Interest Rates
December 10-year T-notes (ZNZ24) today is up +1 tick. The 10-year T-note yield is down -0.2 bp at 3.649%. Dec T-notes today are slightly higher on heightened speculation the Fed will cut interest rates by -50 bp at this week’s 2-day FOMC meeting. Swap markets showed the chances of a -50 bp rate cut rose to 69% today from 52% last Friday. T-notes fell back from their best levels today after the US Sep Empire manufacturing survey general business conditions index rose more than expected to a 2-1/3 year high. Also, rising inflation expectations are negative for T-notes after the 10-year breakeven inflation rate rose to a 1-1/2 week high today of 2.098%.
European government bond yields today are mixed. The 10-year German bund yield is down -0.9 bp at 2.139%. The 10-year UK gilt yield is up +0.3 bp at 3.771%.
ECB Governing Council member Kazaks said, "There's still more risk inflation will be higher over the medium term than we expect," and the ECB "will almost surely need to wait until December for a clearer picture before making its next move" on interest rates.
Swaps are discounting the chances of a -25 bp rate cut by the ECB at 31% for the October 17 meeting.
US Stock Movers
Apple is down more than -3% to lead losers in the Dow Jones Industrials after TF International said demand for the company’s iPhone 16 Pro series is weak, with first-weekend pre-order sales of about 37 million units, down about -12.7% y/y from last year’s iPhone 15 series first-weekend sales.
Chip makers are under pressure today and are weighing on the broader market. Micron Technology is down more than -5% to lead losers in the Nasdaq 100, and ARM Holdings Plc is down more than -4%. Also, Nvidia , Broadcom , and KLA Corp are down more than -3%. In addition, Lam Research and Applied Materials are down more than -2%.
Elf Beauty is down more than -3% after Piper Sandler cut its price target on the stock to $162 from $260.
MKS Instruments is down more than -2% after Citigroup downgraded the stock to neutral from buy.
Nova Ltd is down more than -5% after Citigroup downgraded the stock to neutral from buy.
Yelp Inc is down more than -2% after Bank of America Global Research initiated coverage on the stock with a recommendation of underperform with a price target of $30.
Oracle is up more than +4% to lead gainers in the S&P 500 after Melius Research upgraded the stock to buy from hold with a price target of $210.
Intel is up more than +3% to lead gainers in the Dow Jones Industrials and Nasdaq 100 after the chipmaker officially qualified for as much as $3.5 billion in federal grants to make semiconductors for the Pentagon.
Exact Sciences is up more than +4% after releasing data from a study of its blood-based colon cancer screening that showed sensitivities of 88% for colorectal cancer and 31% for advanced precancerous lesions at 90% specificity.
Nuvalent is up more than +21% after presenting updated data from two early-stage trials of its lead cancer programs that impressed analysts.
Builders FirstSource is up more than +2% after Truist Securities upgraded the stock to buy from hold with a price target of $220.
Zillow is up more than +2% after Wedbush upgraded the stock to outperform from neutral with a price target of $80.
Earnings Reports (9/16/2024)
None.
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policyhere.
For Immediate Releases
Chicago, IL – September 16, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. NVDA, Broadcom Inc. AVGO, Apple Inc’s AAPL and Taiwan Semiconductor Manufacturing Co. Ltd. TSM.
Here are highlights from Monday’s Analyst Blog:
What AI Bubble? NVIDIA & 2 Other Chip Stocks with Strong Price Upside
Of late, the stock market has wavered, with tech stocks underperforming in July and August. The euphoria about the artificial intelligence (AI) revolution faded following the post-earnings decline in shares of prominent chipmakers, leaving Wall Street without a major driver.
Chip stocks tanked from a mid-July high as their stretched valuations raised doubts about their capability to sustain real revenue growth, which resembles the dot-com bubble of the late 1990s and early 2000s.
However, the AI boom is here to stay and will drive the prices of chip stocks northward. In reality, chip stocks have now begun to gain ground by banking on the strength of AI. Thus, it’s prudent for investors to keep an eye on chip stocks like NVIDIA Corp., Broadcom Inc. and Taiwan Semiconductor Manufacturing Co. Ltd., which display strong price upsides and increase shareholders’ wealth.
AI is Not in a Bubble Like Dot Com
The foundation of AI is based on practical applications whereas the dot-com companies had business models based on speculative ideas. Moreover, several sectors, including technology, healthcare, transportation, agriculture and finance, are adopting AI, curtailing sector-related bubbles’ risks.
Companies from these sectors utilize AI for product innovation, efficiency and cost savings. Thus, AI has more tangible economic benefits in contrast to the abstract nature of the dot-com period. Mature infrastructure like cloud computing platforms supports the deployment of AI technologies. However, these established infrastructures were not there for dot-com ventures.
Booming AI to Boost the Stock Price of NVDA, AVGO, TSM
The global AI industry expanded beyond $184 billion in 2024, a jump of nearly $50 billion from 2023. The astounding growth is estimated to continue till 2030, with AI market size surpassing $826 billion, according to Statista.
NVIDIA will benefit from this growth since the chip giant provides hardware and technologies vital for AI applications. NVIDIA’s graphic processing unit (GPU) is a core part of the computer server infrastructure required to train large language models and function AI interfaces.
Broadcom also plays a crucial role in the AI ecosystem. Its products used in data centers are important for AI applications. Broadcom’s CEO Hock Tan expects the company’s AI revenues to climb to $12 billion in fiscal 2024 and increase further in fiscal 2025 due to an uptick in demand for custom accelerators for AI data centers. Broadcom’s AI revenues increased 10% sequentially in the fiscal fourth quarter to about $3.5 billion.
Taiwan Semiconductor, or TSMC, manufactures chips for companies that make AI hardware and are therefore well-poised to gain from the flourishing AI industry. TSMC’s manufacturing capability is required for GPUs to be functioning. These GPUs are essential for data centers where huge amounts of data are stored. These data are needed for AI applications, whose demand has shot up and, in turn, is expected to boost TSMC’s business.
NVIDIA Stock – Offers Price Upside of Up to 71.1%
A possible green light from the U.S. government to export chips to Saudi Arabia, the launch of the much anticipated next-generation Blackwell chip and a wide competitive moat in the GPU market space will surely help the NVIDIA stock to scale northward (read more: 2 Reasons NVIDIA Stock Popped Yesterday With More Room to Run).
Brokers, thus, have jacked up the average short-term price target of NVDA by 27.7% from the stock’s last closing price of $116.91. The highest price target is $200, an upside of 71.1%.
Broadcom Stock – Offers Price Upside of Up to 51.6%
Broadcom’s capability to pay off debts banking on strong cash flow should propel its stock price. Broadcom’s free cash flow (FCF) was $4.791 billion in the fiscal third quarter, while revenues came in at $13.07 billion. Thus, the FCF margin was 36.65% (i.e., $4.791 billion/$13.07 billion in revenues), slightly more than last quarter’s 36% (read more: Broadcom Selloff Explained! Should You Buy the Dip in AVGO Stock?).
Hence, brokers have increased the average short-term price target of AVGO by 20.3% from the stock’s last closing price of $158.27. The highest price target is $240, an upside of 51.6%.
TSMC Stock – Offers Price Upside of Up to 46.9%
TSMC’s significant pricing power due to its supremacy in the high-end chip market, and being the exclusive manufacturer of Apple Inc’s AI chips should help its share prices scale upward (read more: 2 AI Stocks That Can Be the Next NVIDIA).
Therefore, brokers have raised the average short-term price target of TSM by 20.3% from the stock’s last closing price of $170.23. The highest price target is $250, an upside of 46.9%.
Shares of NVIDIA, Broadcom, and TSMC have soared 140.6%, 47.4% and 64.8%, respectively, so far this year.
All these stocks have a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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On Sept. 13, 2024, Wall Street surged, marking strong weekly gains as Wall Street raised its expectations for a significant interest rate cut by the Federal Reserve. The S&P 500 gained 0.5%, while the tech-heavy Nasdaq Composite increased 0.7%, both logging their fifth successive day of gains. The Dow Jones Industrial Average added 0.5%, or about 300 points.
For the week, the Nasdaq rose more than 5%, marking its best performance of the year. U.S. semiconductor stocks logged a rally last week.The S&P 500 gained 4%, and the Dow increased by 2%. These gains came amid a volatile market, but the rapid recovery coincided with intensifying debate over interest rate policy.
Interest Rate Cut Expectations Rise
The market’s upward momentum was aided by increasing anticipation of a half-point interest rate cut by the Federal Reserve, which was previously viewed as unlikely. Traders are now assigning a 49% probability to a 50-basis point cut next week, up from just 15% on Sept. 12, 2024.
This shift in expectations was aided by reports from the Financial Times and The Wall Street Journal, suggesting the Fed's decision on Sept. 18 will be closely contested. Former New York Fed President Bill Dudley added to the speculation, stating there is a "strong case" for a deeper rate cut.
Treasury Yields Fall Amid Rate Cut Debate
The yield on the benchmark 10-year Treasury declined to 3.66% on Sept. 13, 2024 from 3.70% recorded on Sept. 9, 2024. The recent fluctuations in Treasury yields reflect ongoing market uncertainty over whether the Fed will opt for a 0.25% or 0.5% rate cut, as concerns over a labor market weakness and recession risks continue to cause volatility.
Best-Performing Leveraged ETFs of Last Week
Against this backdrop, below we highlight a few winning leveraged exchange-traded funds (ETF)s of last week.
Defiance Daily Target 2X Long AVGO ETF AVGX – Up 48.03%
Broadcom Inc (AVGO) jumped 20.8% last week, paving the way for a rally for AVGX. The Defiance Daily Target 2x Long AVGO ETF seeks daily leveraged investment results of two times the daily percentage change in the share price of Broadcom Inc.
Defiance Daily Target 1.75x Long MSTR ETF MSTX – Up 42.2%
MicroStrategy Inc MSTR gained about 18% last week, benefitting MSTX ETF. The Defiance Daily Target 1.75X Long MSTR ETF seeks daily leveraged investment results of 1.75 the daily percentage change in the share price of MicroStrategy Incorporated.
Defiance Daily Target 2X Long SMCI ETF SMCX – Up 38.1%
Super Micro Computer Inc SMCI advanced 16.4% last week. The Defiance Daily Target 2x Long SMCI ETF seeks daily leveraged investment results of two times the daily percentage change in the share price of Super Micro Computer, Inc.
MicroSectors Gold Miners 3X Leveraged ETN GDXU – Up 36.3%
Gold bullion ETF SPDR Gold Trust GLD gained 3.2% last week. Hence, leveraged gold mining RTF GDXU jumped as mining stocks often benefit more than the underlying metal. The underlying S-Network MicroSectors Gold Miners Index seeks to provide exposure to the performance of the VanEck Vectors Gold Miners ETF and the VanEck Vectors Junior Gold Miners ETF.
GraniteShares 2x Long PLTR Daily ETF PTIR – Up 35.0%
Palantir Technologies Inc PLTR gained 8.8% last week. The GraniteShares 2x Long PLTR Daily ETF seeks daily investment results, before fees and expenses, of 2 times the daily percentage change of the common stock of Palantir Technologies Inc.
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