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AMD's stock price fell 17% in 2024, contrasting sharply with Nvidia's 171% rise, despite AMD's strong earnings and innovation. Analysts cite AMD's lag in AI technology and the shift of major cloud players towards custom chips from competitors like Marvell and Broadcom as key challenges.
Nvidia's stock surged 5.4% last week, signaling a strong market comeback as CEO Jensen Huang prepares for a pivotal CES 2025 keynote on AI chips. Despite mixed signals in the broader market, leading stocks like Taiwan Semiconductor and Tesla showed resilience, with many triggering buy signals as 2025 begins. Investors are advised to approach new positions cautiously, monitoring upcoming economic reports and tech developments.
Dow Jones futures were stable ahead of Tuesday's market open, while Bitcoin fell below $94,000 for the first time since late November, impacting related stocks like Coinbase and MicroStrategy. Taiwan Semiconductor Manufacturing (TSMC) broke out past a key buy point, closing in the buy zone, as the Dow Jones Industrial Average rose 0.2% and the S&P 500 climbed 0.7%. The economic calendar is light this week, with new home sales expected to show modest recovery.
Wall Street closed mixed on December 16, 2024, with the Dow Jones Industrial Average down 0.2%, the Nasdaq Composite up 0.1%, and the S&P 500 virtually unchanged. Investors are optimistic about a potential 25-basis-point rate cut from the Fed's upcoming meeting, following high inflation numbers. Technology stocks showed strength, with Marvell Technology and Palantir Technologies rising 2.1% and 3.9%, respectively.
Dow Jones, S&P 500, and Nasdaq futures will open Sunday evening, with the final Federal Reserve meeting of 2024 scheduled for Dec. 17-18, where a quarter-point rate cut is expected. The stock market had a mixed week, with the Nasdaq slightly up, driven by gains in Alphabet, Tesla, and Broadcom, while Nvidia lagged amid rising Treasury yields. Palantir, MicroStrategy, and Axon Enterprise will join the Nasdaq 100 index, replacing Moderna, Super Micro Computer, and Illumina.
Stocks ended little changed on Friday, with the S&P 500 and Dow posting weekly losses, marking the Dow's longest losing streak since February 2020. Broadcom surged 24% to surpass a $1 trillion market cap, driven by a bullish AI sales forecast, while Tesla hit a record high. The Dow struggled amid a significant drop in UnitedHealth shares following the CEO's fatal shooting, as economic data suggests a potential rate cut from the Federal Reserve next week.
Stocks are set for a losing week, with the S&P 500 and Dow Jones Industrial Average struggling, while Broadcom surged to an all-time high after predicting a 65% AI-driven sales increase, boosting its market cap past $1 trillion. The tech-heavy Nasdaq Composite is positioned for a strong weekly gain, having reached a record close earlier in the week. Meanwhile, UnitedHealth shares plummeted over 15% following the CEO's fatal shooting, contributing to the Dow's challenges.
The stock market showed positive momentum, particularly in the tech sector, with the Nasdaq hitting a record high, bolstered by Broadcom's strong performance and AI-related stocks. RH surged nearly 14% after reporting a profit reversal and raising revenue guidance, although some gains may be attributed to short covering. Meanwhile, the S&P 500 and Dow experienced slight declines, and the 10-year Treasury yield rose ahead of the upcoming Federal Reserve meeting.
Broadcom's stock surged over 21% after the company projected AI chip sales could reach $60 billion to $90 billion by fiscal 2027, up from $12.2 billion in 2024. CEO Hock Tan highlighted strong demand from major clients like Google, Meta, and ByteDance, with additional potential from Apple and OpenAI. Analysts responded positively, raising price targets and noting Broadcom's competitive edge in the AI chip market.
Tech stocks propelled Wall Street higher, led by Broadcom's 19% surge after a bullish AI-driven sales forecast. The S&P 500 rose 0.3% and the Nasdaq Composite gained 0.5%, while the Dow struggled amid a significant drop in UnitedHealth shares following the CEO's tragic shooting. Economic data suggests a potential rate cut from the Federal Reserve next week, although persistent inflation may complicate future decisions.
Marvell Technology, Inc.
Companies
| Symbol | MRVL |
| Name | Marvell Technology, Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Semiconductors & Semiconductor Equipment |
| Industry | Semiconductors & Semiconductor Equipment |
| Market | NASDAQ Global Select |
| Country | United States |
| State | DE |
| City | Wilmington |
| Zipcode | 19801 |
| Website | http://www.marvell.com |
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