[Looking back on the first half of 2024] US high-tech stocks continued to perform well, and NVIDIA's total market capitalization exceeded 3 trillion dollars

moomooニュース米国株 wrote a column · Jun 19 03:06

The US stock market has been doing well in the first half of 2024 (January-June). High-tech stocks led the rise in US stocks against the backdrop of favorable feelings about generative AI and expectations for the Fed to cut interest rates.

The Nasdaq and S&P 500 indices have hit historic highs many times since the beginning of the year, and the Dow average surpassed the 40,000 dollar mark at one point. Until the closing price on 6/17, the Dow average, NASDAQ, and S&P 500, which are the three major US stock indices, rose by 2.83%, 18.30%, and 14.42%, respectively.

By sector, 10 of the 11 sectors classified in the S&P 500 rose. Among them, the rate of increase in information technology was the largest, reaching 28.26%. The second was communication services, which rose 24.83%.

[Looking back on the first half of 2024] US high-tech stocks continued to perform well, and NVIDIA's total market capitalization exceeded 3 trillion dollars

Oppenheimer analysts pointed out that 98% (490 companies) of the S&P 500 index exceeded expectations for the first quarter, showing strong performance in major markets, and there is a possibility of further rise. It was also mentioned that attention should be paid to general consumer goods, energy, materials, and information technology against the backdrop of economic expansion in the United States and the world.

Also, Goldman stated that utilities are still bullish. Investors seeking exposure to companies that provide energy and services to operate AI-related data centers are gathering.

According to data compiled by Bankame on 6/7, $NVIDIA (NVDA.US)$Excluding the S&P 500, the year-to-date increase rate was 7.9%.

Since the beginning of 2024, $NVIDIA (NVDA.US)$It surged by about 164%, and the total market value surpassed 3 trillion dollars. The company has an advantage in the AI chip (especially data center) market and occupies a market share of approximately 80%. The company is growing rapidly due to huge demand for processors from companies such as OpenAI, Microsoft, Alphabet, Amazon, and Meta.

It also handles server storage products $Super Micro Computer (SMCI.US)$has achieved a rate of increase of 212% or more since the beginning of the year. The company provides devices to cool AI chips, and has NVIDIA, Intel, etc. as its main customers.

Meanwhile, the corporate software manufacturer's $MicroStrategy (MSTR.US)$It has risen more than 138% since the beginning of the year. According to financial results for the first quarter of 2024, the company acquired 214,400 BTC, with an estimated value of 14 billion dollars. Also, on 6/14, the company plans to issue convertible bonds totaling 500 million dollars (about 79 billion yen) and use them for additional acquisitions of bitcoins and general corporate purposes.

Also, according to Bankame, it is called the “AI Big 10” $NVIDIA (NVDA.US)$、 $Alphabet-C (GOOG.US)$、 $Microsoft (MSFT.US)$、 $Meta Platforms (META.US)$、 $Amazon (AMZN.US)$、 $Broadcom (AVGO.US)$、 $Qualcomm (QCOM.US)$、 $Advanced Micro Devices (AMD.US)$、 $Applied Materials (AMAT.US)$、 $Micron Technology (MU.US)$Excluding the ten companies, the year-to-date growth rate of the S&P 500 was only 3.6%.

We handle solutions for AI infrastructure $Astera Labs (ALAB.US)$It was newly listed on the NASDAQ market in mid-March, and rose over 80% until the closing price on 6/17.

Source: SeekingAlpha, moomoo
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