Aussie Weekly Buzz: AI Chip Plays Hit Resistance
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Welcome back to AU Weekly Buzz, where we review the news, performance, and community sentiment of the top ten buzzing stocks on moomoo based on search and message volumes! Comment below to answer the Weekly Topic question for a chance to win an award!
Stock Market Rally Advances
The stock market saw gains in the key indexes, though the rally remains uneven. $Dow Jones(BK20782.US$had the strongest week, retaking the 50-day line. $NASDAQ(NASDAQ.US$and $S&P 500(BK91326.US$pared weekly gains, reversing from record highs as Nvidia and other hot AI stocks slumped. Treasury yields rose but still near multimonth lows. Crude oil futures bounced.
Let's dive into the buzzing stocks last week:
NVDA Buzzing Stars: ⭐⭐⭐⭐⭐
$NVIDIA(NVDA.US$ fell 3%, snapping an eight week win streak, as investors appeared to take profits on the chipmaker's runaway rally that had seen it briefly usurp Microsoft as the most valuable company on Tuesday.
Nvidia was valued at 3.14 trillion in recent trading, just shy of Apple's $3.23 and Microsoft's $3.33T valuations.
Despite the blip in Nvidia, the general enthusiasm around the applications of artificial intelligence should mean that underlying demand for the stock remains strong.
@StellaGoh: As these options expire on Friday, NVDA may lose about half of its gamma, potentially slowing its momentum. This could lead to "falling stock prices and high volatility. "With NVDA's proven performance and the historic nature of this options expiry, now might be the perfect time to seize the opportunity and make a strategic investment move.
TSLA Buzzing Stars: ⭐⭐⭐⭐
$Tesla(TSLA.US$is set to unveil its Robotaxi on August 8 and as the automaker plans to show off what will be its driverless vehicle platform for the first time, analysts are preparing for what its impact on the automaker’s story could be.
Wedbush analyst Dan Ives said in his note to shareholders on Friday morning that the August 8 Robotaxi event is the first step in Tesla regaining its $1 trillion valuation, modern investors seem to be most interested in for growth: AI and autonomy.
@Ankur Tiwari: TSLA is still looking strong after closing above the 172.91 channel top last week. Currently consolidating, but a close above 187.44 should break us out of the range and send Tesla to 200+.
AAPL Buzzing Stars: ⭐⭐⭐⭐
$Apple(AAPL.US$ stock has been on a tear in recent months. The the narrative has flipped from the iPhone maker being a laggard, in terms of advances in artificial-intelligence, to a potential leader.The research firms both raised their Apple price target to $240, representing potential upside of 14%.
BHP Buzzing Stars: ⭐⭐⭐⭐
Among the popular Australian stocks, $BHP Group Ltd(BHP.US$ shines on the ASX index with its dividend yield of 5.6% surpassing the industry average of 1.9%.
Over the last few weeks, BHP stock has made headlines for its attempts to acquire UK-based mining company $Premier1 Lithium Ltd(PLC.AU$. However, last month, the company abandoned its takeover plans after both parties could not reach an agreement, leading to satisfaction among BHP’s investors.
@TOLKKI: Bhp is actually low key a big uranium producer too. But really these two companies produce multiple crucial materials in the largest quantities required for the world to function and grow. Their diversified portfolios are cyclical, but provide alot of risk mitigation also.
AMD Buzzing Stars: ⭐⭐⭐
$Advanced Micro Devices(AMD.US$ has been a popular rival to the chip-giant Nvidia, and both companies have realized massive gains in 2024. AMD stock opened the year at $144.28 and surged to a high of $227.30 on March 8. Since then, the stock has had a tough time catching a bid and has fallen to a low of $141.16. Last Friday, the stock jumped over 6% after recent data breach concerns were brushed to the side, marking the biggest single-day rally in almost four months.
@Rocketier: My honest pov is AMD will not go anywhere further down but towards the up trend.You've to remember that AMD is a top leading comoany that provides semiconductor chips and it's the core component and crucial foundation for all computing devices. I don't see why it will not do well...
GME Buzzing Stars: ⭐⭐⭐
After weeks of surging through the hype, $GameStop(GME.US$ fanfare appears to finally be subsiding. Now, retail investors are more aware of this stock’s risks in times of short squeezes and meme frenzy.
The stock is lower by 63% since it peaked a month ago. Earlier this week, GameStop dropped 12% on Monday after CEO Ryan Cohen said he’s looking to cut costs and wind down the sprawling network of physical stores. The meme trading bonanza, while potentially lucrative, can also be hammeringly painful.
@JC88: Not trying to demoralise anyone, but let’s face the reality: expectation can lead to disappointment.This thing usually explode unexpectedly. Today will be volatile, but that means it can go both ways. To manage expectation better, it’s best to not think about rise today, it won’t rise every single day.
TSM Buzzing Stars: ⭐⭐⭐
$Taiwan Semiconductor(TSM.US$ have been on the move with the stock up 16.9% over the past month. The stock hit a new 52-week high of $184.86 last Thursday. TSMC has gained 72.8% since the start of the year.
This optimism is fuelled by the continued demand for high-9end phones and the adoption of advanced technology nodes. Furthermore, TSMC's revenue from AI applications in data centres is on the rise, staying on course with projections and indicating a healthy growth trajectory.
@102450266: Bullish signal. Load up before it's too late.
MSFT Buzzing Stars: ⭐⭐⭐
$Microsoft(MSFT.US$ was impervious to the late week selling that saw fellow 3 trillion-dollar market cap club members Apple and Nvidia have a down week. Both AAPL and NVDA closed well off the recent record closing highs while MSFT once again closed at a fresh new high.
Indeed, Microsoft stock has now firmly retaken the number one position at $3.34 trillion with AAPL at $3.18 trillion and NVDA at a $3.11 trillion.
@102362254: If I were to make a guess, I'd say Microsoft could be the frontrunner in the race to a $4 trillion market cap based on several key factors.
With a strong presence in both consumer and enterprise markets, and stable financials marked by consistent revenue growth and a solid balance sheet, Microsoft is well-positioned to reach the $4 trillion milestone ahead of its competitors.
BTC Buzzing Stars: ⭐⭐⭐
Losses are piling up in the crypto market after its second-worst weekly decline of 2024, a reflection of cooling demand for Bitcoin exchange-traded funds and uncertainty over monetary policy.
A gauge of the largest 100 digital assets fell about 5% in the seven days through Sunday, the steepest such slide since April.
@HoodedxGOON：It might be wise to capitalize on the dip considering we might not see another one for a little while.. only question is where is the bottom?
AVGO Buzzing Stars: ⭐⭐⭐
$Broadcom(AVGO.US$ recently announced a 10-for-1 stock split, which will take effect after the market closes on July 12. That upcoming split will reduce its trading price from about $1,653 (as of this writing) to $170.
@71811517：June 24 is dividend payment so price might increase due to increased purchase of stock. If this momentum continues even for 3% increase per day till stock split on july 12 then $3000 might be possible.
Awards
Congrats to the following mooers whose comments were selected as the top comments last week!
Weekly Topic
NVIDIA (NVDA) schedules annual stockholder meeting for June 26, 2024. Would you buy Nvidia stock before June 26, and why?
Comment below and share your ideas! We will select up to 15 TOP COMMENTS for a reward next week. Winners will get 200 points by next week, with which you can exchange gifts at Reward Club.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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JC88 : I got tagged again
mr_cashcow : Thanks for the reward points!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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NVIDIA's annual stockholder meeting on June 26, 2024 will definitely have an impact on the stock's price and it very much depends on the announcements and discussions during the meeting. Investors might buy NVDA stock before the meeting in anticipation of positive news or announcements, such as:
However, it's crucial to remember that speculation and uncertainty can lead to market volatility. Before making any investment decisions, consider:
As usual all the above are for educational purposes & are NOT financial advise! Please DYOR/DD, goodbye
DouGiee : NVDIA cant sustain a rally forever![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
ZnWC : Thanks for the rewards points![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
The short answer is "Yes" I would buy the stock but not directly. I prefer ETFs which include Nvidia like the S&P500. First this will reduce my risk by diversification - don't put all eggs in one basket. Second if Nvidia underwent price correction or dip, the impact may be less as other stocks are still doing well.
It looks like the AI-chips stocks hype will continue for a while as there is high demand. Nvidia CEO is expected to announce the company's master plan or new products to capitalize the hype during the shareholder meeting hence we may expect share price rally after the event. Personally I think investing in this stock should be for a longer term and should not be due to FOMO mindset (greed). We should also note that Nvidia is not the only company making AI chips.
Disclaimer: The above is not financial advice. You may have a different risk appetite so DYODD before you invest.
Dadacai : The next shareholder meeting is expected to present questions as to why insiders were selling their shares. There is a risk that the stock price can go down further although it can also go up if the guidance is good. I may enter if the price is reasonable.
102362254 : The shareholder meeting on June 26 might cause the stock to become more volatile. I'd rather not trade when things are uncertain like this. NVIDIA is an attractive choice because of its innovation and leading position in the market, but I'm not interested in buying when the price is still high. I'll wait for a more significant drop in price before I consider buying it.
StellaGoh : Wow I got tagged
Thanks @Moomoo AU
Connie C : should buy some as now it's lower than the previous one. Coming stakeholder meeting is important for the coming years planning and direction after becoming the most valuable AI chip company for Stakeholders and Investors.
redevilgiggs : AI trend![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Wonder : I will consider selling put options; if Nvidia price rise after positive announcements in the shareholders meeting, will get to earn some premium. If price further pullback, this will present an opportunity to buy the stock (when assigned) at a price I am willing to invest in. Nvidia being the market leader now, will at some point be subject to pullback/correction, and this may be an opportunity to enter for a long term position.
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