In the photograph In Wall Street markets, there is one company that is taking over celebrity both in threes. It’s Nvidia, the queen of Artificial Intelligence which has seen its price increase again in recent days. Signing at the European closing It was just 1.8% away from hitting its all-time high again: $135.58. which he scored in mid-June and has failed to get them back since. It is in this environment that it operated at the close of the European Stock Exchange this Wednesday, after an increase of 14% in October.
On Tuesday, the technology index par excellence followed in the wake of Nvidia, which rose 4% during this session, and rebounded with an increase of 1.6%. This too served as a guide for companies in the sectorlike Super Micro and ASML, which are up 5% and 1.4% since Tuesday, while Arm, Synopsys and Qualcomm, which are up over 1% since then.
Chip producers continue to shine on the stock market this year. Nvidia puts he goldbeing the most optimistic company of the entire selection, since it reaches an increase of 168% so far in 2024. Additionally, three of its semiconductor manufacturing industry peers are in the area top 10 of the Nasdaq 100, as is the case of Arm, which occupies third position in the index, recording an increase of 91% over the year. Fifth and sixth places are occupied by Super Micro and Broadcom, companies which have accumulated respective increases of 65% and 60% on the stock market in 2024.
Businesses climbs to car of AI are experiencing a new bullish wave, after suffering a temporary loss of investor confidence. During the summer, the market expected a rotation of investors’ money towards the small capitalssince they would be favored by the interest rate cuts of the American Federal Reserve. And with the first rate cut giant led by Fed Chairman Jerome Powell, was seen as a sign of a reversal of the situation. On the other hand, the market was speculating on the possibility that an artificial intelligence bubble had invaded the stock markets, due to disappointing data for investors.
However, strong employment in the US economy has limited analysts’ expectations for an aggressive rate cut policy, so that two months before the end of the year, the long-awaited rotation did not materialize. not produced. And above all, businesses are regaining confidence. Today, potato chip producers are experiencing a new rally. In addition, with the new collapse in oil prices, the market does not seem worried about an inflationary rebound and is betting on the progress of these companies, which is why Nvidia is leading this new stock market rise.
Next delivery of results
Investors are now waiting for the next earnings release to confirm that there are no more fears ahead. During Nvidia’s presentation, scheduled for November 21, the firm will reveal the figures obtained in the third quarter of this financial year. Although the president of this company, Jensen Huang, has already anticipated an “incredible” increase in demand for the latest generation of its chip, Blackwell, which disappointed due to its low sales in the latest results published in August. Furthermore, the consensus of analysts which brings together Bloomberg predicts that the queen of AI will increase your profits by 89% in this financial year compared to those obtained during the same period last year. Experts predict that the company will move from obtaining $9.234 million to $17.5 billion this quartera new profit record for the company.
