Aussie Weekly Buzz: Welcome to join the ＄2 trillion club
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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!
Let's dive into the buzzing stocks last week!
NVDA Buzzing Stars: ⭐⭐⭐⭐⭐
Large-cap technology stocks, particularly those associated with the AI trade, have faced considerable pressure over the last week, perhaps raising the eyebrows of many investors.More specifically, beloved $NVIDIA(NVDA.US$, $Super Micro Computer(SMCI.US$, and $Broadcom(AVGO.US$ have all seen their shares dive.
Nvidia’s Data Center sales have been a focal point amid the AI frenzy. Concerning its latest period, Data Center revenue of $22.6 billion once again blew away our consensus estimate and reflected another quarterly record.
Despite the adverse price action, the positive story surrounding the stock remains the same. Positive earnings estimate revisions paired with a sound valuation picture will help the stock regain its footing, and the recent dip looks to be an opportunity.
@PandorasBox: $NVIDIA(NVDA.US$ is having a receding before they convert the cash to sales and product deployment. We will see the actual results in Q3. A good sign would be Jensen stop giving interviews and get back into the business.
TSLA Buzzing Stars: ⭐⭐⭐⭐
$Tesla(TSLA.US$ is benefitting on Thursday from Wolfe Research’s client note that argued further upside should be expected for the Magnificent Seven stocks.
Tesla shares have been trading within a pretty tight range since early May after gyrating earlier in the year. The stock remains below its 200-day moving average, but a sharp move higher this week signals a potential for change.That’s boosting optimism among some investors.
The real test for the stock, however, will be the unveiling of the company’s robotaxi in August. As Musk tries to re-position Tesla as an artificial-intelligence company, rather than just an EV maker, a lot is depending on the August event.
@10baggerbamm: It appears that there's gradual accumulation by larger institutions the past couple of weeks so not looking at a daily chart but a weekly chart it looks like 202.80 is going to be the weekly the next week maybe 2 weeks (max) level where it could push to and meet some resistance at that point.
AAPL Buzzing Stars: ⭐⭐⭐⭐
Thanks to an exciting set of launches planned for the fall, $Apple(AAPL.US$ investors are optimistic about the company's short-term future.
The year-to-date growth has been lumpy, however. AAPL's price moved down between January and late-April. The decline reversed in early May when the company released its second-quarter results. Investors responded well to higher revenues in Services, Apple's highest margin business. The company also announced a massive $110 billion stock buyback authorization and a dividend increase. In the 24 hours following the earnings report, Apple stock rose nearly 6%.
AAPL stock got another boost in June when the company introduced its AI feature set called Apple Intelligence. The stock price rose as high as $220 before leveling back to the mid-$210s.
@102078089 shared his P/L orders with us.
BHP Buzzing Stars: ⭐⭐⭐⭐
As for the month almost past, shares in the ASX 200 miner closed out May trading for $44.51.With less than one full day of trade left in the month, $BHP Group Ltd(BHP.US$price is down 3.7% in June.
With no price-sensitive announcements released over the month, the underperformance of the BHP share price is largely due to the retrace in iron ore and copper prices.
Copper, BHP's number two revenue earner, wasn't spared either.The copper price ended May at US$10,135 per tonne and dropped 6% in June to currently be trading for US$9,516 per tonne.
On the copper front, BHP will need to look for new avenues to become the largest copper miner on Earth. Investors learned at the end of May that the ASX 200 miner's $74 billion takeover bid for global miner $American Airlines(AAL.US$ would not proceed.
@ArtieZiffsCat: Aussie mining stocks are having a tough week, down 0.7% so far and looking like they'll make it six straight losses if this keeps up. It's all because China's demand is a bit on the chill side. Man, mining's not as hot as it used to be these days!
AMD Buzzing Stars: ⭐⭐⭐
$Advanced Micro Devices(AMD.US$ have declined more than 8% in the past month. Its closest peer, chip behemoth NVDA, has gained 11% over the same time frame.
In the past few weeks, market sentiment has been shifting from AI chip providers given the challenging macroeconomic environment and rising uncertainty over the upcoming Presidential elections. These factors have been an overhang on the share prices of chip providers.
AMD has been particularly affected, given its much smaller size and GPU market share compared to NVIDIA. Despite having a solid portfolio, growing skepticism over its ability to dethrone NVIDIA, at least in the near term, has been an overhang on its share price movement.
@Capoo: I am still looking to long AMD at his fair price, still waiting it to go below 150 to enter, too expensive with this PE ratio now.
AMZN Buzzing Stars: ⭐⭐⭐
$Amazon(AMZN.US$ netted a $2 trillion market capitalization for the first time ever on Wednesday, becoming one of a handful of companies in the world valued at over $2 trillion as the recent AI-driven tech rally continues to mint new milestones.
Investors will note that Amazon has been going through major cost-cutting initiatives over the last couple of years. That has resulted in a large number of layoffs and other changes to reduce spending.
Another factor that helped Amazon reach $2 trillion was the pandemic. Lockdowns encouraged online spending and it’s the market leader in that space. This saw it reach $2 trillion in market cap after only hitting $1 trillion in 2020.
@MomentumPython1337: i am buying some calls for september i see very little reason this cannot break above 200.
GME Buzzing Stars: ⭐⭐⭐
$GameStop(GME.US$ is fading. Shares of the video game retailer have lost almost two-thirds of the value gained after the recent run-up caused by Roaring Kitty’s return to social media. Despite Keith Gill’s belief in the company and significant ownership, investors question the timing of buying GameStop stock.
Despite the video game retailer sitting 140% above the lows hit prior to the revival of meme stock trading, the trading frenzy has subsided.
@Deep Value Kitty: it’s the best chance to collect more number of shares while it’s trading sideways slowly. Yes I know y’all miss the high volume and votality, but there will surely be calm moments before the storm.
MU Buzzing Stars: ⭐⭐⭐
$Micron Technology(MU.US$'s 2024 stock market rally came to a screeching halt last week after the company released fiscal 2024 third-quarter results. The memory specialist's outlook didn't exceed Wall Street's expectations by a big enough margin, and the stock fell almost 8% just after its release.
Micron's share prices were up nearly 67% in 2024 before its results came out, and the company headed into this latest report with high expectations thanks to the booming demand for its AI chips.
@Flowerhill: My bad luck or luck of education… I sold SMCI yesterday and bought more Micron and blew off the profits from SMCI in half day and SMCi is up now 😆 I watched a live show of technical chart reading this morning and the guy said “Don’t trust yourself on stockmarket, read the chart” well I will definitely learn to read candles!
MSFT Buzzing Stars: ⭐⭐⭐
After hitting a new all-time high and progressing further above the $450 price level, $Microsoft(MSFT.US$might proceed toward another record-breaking level – at $500 – and analysts are optimistic it will succeed in doing so in the next 12 months.
As it happens, Microsoft shares picked up the pace recently, reclaiming its status of the world’s most valuable company, despite the technology behemoth facing anti-competitive behavior charges from the European Union and revelations that Russian hackers have been spying on its clients’ emails.
@Newbie420: looks like Microsoft will reach 4T before any other company.
BTC Buzzing Stars: ⭐⭐
With June behind our backs, it’s worth noting that Bitcoin went on a complete rollercoaster during the past 30 days, soaring to as much as $72,000 and dropping to a low of slightly more than $58,000.
That said, the sellers were ultimately victorious, pushing the price down by about 7% in total.
@10baggerbamm: Bitcoin should be rallying,it should be up $3,000 right now. We just had consumer confidence come out and everything started to ratchet up.
Awards
Congrats to the following mooers whose comments were selected as the top comments last week!
Weekly Topic
Bitcoin: Anticipation Of A Rebound After The Fall in July?
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.
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DouGiee : The fall of NVIDIA begins...
102362254 : Bitcoin typically recovers in July following a decline in June. However, its performance could be affected by upcoming Mt. Gox repayments and sales by the German government. Personally, I prefer investing in Bitcoin ETFs rather than directly in Bitcoin itself.
mr_cashcow : Thanks again for the reward points![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Historically, July is a strong month for Bitcoin, with prices increasing by 12% to 19% on average.
In recent years, whenever June ended with a price downturn, July saw a significant comeback, with Bitcoin gaining an average of 7.42%.
Despite this, Bitcoin has begun July 2024 on a high note, rising 4% in the past day to $63,200.
$106 million in short positions have been liquidated in the past 24 hours, with 85% of them being sellers.
Analysts predict Bitcoin to rebound strongly in July after declining by 7% in June 2024
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Ah yes bitcoins, the digital gold of the 20th century! It sure fluctuate a lot but I do firmly believe it would rebound soon
July bitcoin performance crystal ball forecast:
NFA, plz DYOR/DD!
ZnWC : Thanks for the reward points![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Bitcoin (BTC) which is the most popular cryptocurrency is +41% YTD as of yesterday and hit a high price of USD 72,000 last month.
I think the BTC price will undergo several waves of plummet and rebound, not just July. Unlike stocks, BTC is not linked to any company and has no intrinsic value hence it is extremely difficult to time the market. TA indicators may not accurately forecast the price trending.
Disclaimer: The above is not financial advice. Cryptocurrency like BTC is a very risky asset so DYODD before you invest.
Some important info about cryptocurrency you should know:
1) Warren Buffett said in 2018 that cryptocurrency with almost certainty would come to a bad ending. He believes that cryptocurrencies are not a viable or valuable investment.
2) Ark Invest CEO Cathie Wood called bitcoin a “financial super highway,” emphasized the important use cases for the cryptocurrency in emerging markets. Ark’s spot bitcoin ETF has become one of the more successful bitcoin ETFs among the ten funds issued in January this year.
Despite Wood's strong belief, there's no evidence that she bought and held BTC.
3) There is no regulation to protect retail investors who bought cryptocurrency. Those who bought BTC in 2022 will remember several cryptocurrency brokerages collapsed commonly known as "bank run". Just to name a few cryptocurrency exchangers who went bankrupt - FTX, BlockFi, Hodlnaut and Celsius. Many retail investors lost money because they were unable to withdraw their money.
Hase Investment King : Thanks for the points!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
For sure it gonna be up and down in the month July. And rebound wouldn’t be exceptional in this case
JulW21 : Thanks for the points!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Base on historical data, Bitcoin does poised for rebound in July. While the market remains cautious due to potential sell-off from Mt Gox repayment and broader economic uncertainties, the technical and historical patterns offer a basis for cautious optimism about a rebound in Bitcoin price in July
RampageBull_Nexus : Nice!!
151755852 :
151755852 : Good
151891691 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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