{ }
Symbol NVDA
Name NVIDIA Corporation
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City Santa Clara
Zipcode 95051
Website http://www.nvidia.com
Riot Platforms has acquired approximately $510 million in Bitcoin, raising its total holdings to nearly $1.7 billion. This move aligns with activist investor Starboard Value's significant stake in the company, which has suggested repurposing mining capacity for AI services. Analysts at JPMorgan have also increased price targets for Bitcoin miners, recognizing the value of their BTC holdings and assets.
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.
Broadcom's earnings report highlights a robust demand for AI computing, with CEO Hock Tan projecting a serviceable addressable market of $60 billion to $90 billion by 2027, leading to a 17% surge in shares. The S&P Short Range Oscillator indicates a potential market bottom, currently at minus 2.19, suggesting an oversold condition below minus 4. Costco's recent earnings exceeded expectations, prompting several price target increases for the stock, which is nearing record highs.
Stocks turned lower in late-morning trading, with the S&P 500 and Nasdaq Composite down 0.1% and 0.2%, respectively, while the Dow Jones Industrial Average remained flat. Broadcom's strong earnings initially boosted chip stocks, but major tech companies like Apple and Microsoft saw losses. As the market anticipates a Federal Reserve rate cut next week, the yield on 10-year Treasurys rose to 4.38%.
Tech stocks propelled US futures higher, led by a 17% surge in Broadcom after it forecasted a 65% AI-driven sales increase. The Nasdaq rose 0.7%, while S&P 500 futures gained 0.4%. However, the Dow struggled, impacted by a 15% drop in UnitedHealth shares following the CEO's fatal shooting.
Ethereum has surged nearly 60% since the recent election, benefiting from a favorable regulatory environment anticipated under the incoming Trump administration. With potential pro-crypto cabinet appointments and a shift to proof-of-stake, Ethereum's utility as a decentralized application platform is gaining traction, though it lacks Bitcoin's scarcity. Investors are advised to consider dollar-cost averaging due to possible near-term pullbacks, while Ethereum remains a long-term asset of interest.
Nvidia shares are currently testing critical support at $130, which is vital for the stock's short- and medium-term outlook. A drop below this level could indicate a bearish trend, potentially leading to a correction towards $115. Key upcoming events, such as CEO Jensen Huang's speech at CES and the launch of the RTX 5000 graphics cards, may serve as catalysts for a price increase.
IG
Assetera has launched a platform enabling non-U.S. investors to trade tokenized shares of major companies like Nvidia and Coinbase, as well as the S&P 500, using blockchain technology on the Polygon network. This initiative aims to enhance global access to the U.S. stock market while adhering to strict regulatory standards, including MiFID II and upcoming MiCA rules in the EU. By tokenizing traditional assets, Assetera is fostering a more inclusive investment ecosystem and improving liquidity in the financial sector.
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