Weekly Market Recap: Discover Where the Money Went and Flowed
1. GTC 2024: What's Next for NVIDIA and the AI wave?
Semiconductors took a breath last Friday, with $NVIDIA (NVDA.US)$ retreating over 5% from its historical high and causing the $Nasdaq Composite Index (.IXIC.US)$ to slide 1%. With NVIDIA's top event, GTC 2024, set to be held from March 18th to 21st, market predictions suggest that the launch of the B100 GPU could help NVIDIA continue to soar.
But how should investors position themselves?
The global focus on AI has been consolidated by Apple's decision to abandon its car project, which had spent billions of dollars, to focus on AI development. According to Morgan Stanley's research this month, "infrastructure is poised for the next wave of valuation appreciation."
The chart below shows more potential investment opportunities that could benefit from the AI wave.
2. Apple is Dethroned by Microsoft: What's Next?
$Apple (AAPL.US)$ has continued its rough start to 2024, sliding about 11% year-to-date as of March 8th and ceding its title as the world's most valuable company to Microsoft Corp. Comparatively, Microsoft has gained over 8%, NVIDIA has gained 76%, and SPX has gained over 7%.
Michael Toomey, an analyst at investment bank Jefferies, said that Apple is currently in the most serious oversold state since early 2018, and there may be opportunities for a rebound, but the valuation is not cheap. Investors should exercise caution when considering buying Apple stock.
How to Analyze Apple Stock's Performance with Technical Indicators?
Moomoo Learn has shared the analysis on our premium courses. Apple is going into a consolidation phase, and technical signals are relatively weak.
The stock is currently oscillating between two channel lines, and an uptrend line that connects the low in early 2023 can still be valid.
Bulls may anticipate the stock finding support at the lower channel line and the uptrend line. Conversely, bears could be anticipating a possible breach of these technical levels.
Remember, technical analysis is based on past performance but is not a sure guide for the future. Nonetheless, it's helpful in spotting better entry/exit points or judging market sentiment for a short period.
3. How to Invest in AI Cybersecurity in 2024?
Two pieces of news from the AI sector might interest investors who are looking for investment opportunities beyond NVIDIA.
U.S. cybersecurity services provider $CrowdStrike (CRWD.US)$ posted Q4 revenue of $845.3 million, up 33% YoY, beating analysts' estimates. Fiscal 2025 earnings per share are expected to be in the range of $3.77 to $3.97, above the average analyst estimate of $3.76. Crowdstrike has gained over 140% last year and 26% year-to-date.
$Palantir (PLTR.US)$, a data mining company that integrates the trending topics of "military" and "artificial intelligence," secured a $178.4 million contract from the U.S. Army to develop a next-generation intelligence ground station system for collecting and disseminating sensor data. Palantir gained over 160% last year and 50% year-to-date.
Moomoo Learn has covered Palantir in our Premium Courses, and you can learn more about the company by clicking here>>>
If you want to know more about the sector and how to invest in it in 2024, you can save the course.
4. Bitcoin's Big Run
We mentioned Bitcoin's rally in our last Weekly Market Recap, and the momentum still seems very strong. Last Tuesday, BlackRock's Bitcoin ETF net inflows reached $788.3 million, the largest daily Bitcoin purchase since its launch. With significant investment and continued bullish sentiment, the total trading volume of US spot Bitcoin ETFs has exceeded $10 billion to date. Continued inflows into Bitcoin exchange-traded funds, the upcoming halving, more regulation, and strong US economic performance are all supporting cryptocurrency returns.
How to Trade Bitcoin ETFs? Here is our complete guide to Bitcoin ETF investing.
5. The Valuable Gold
Gold price hits record high on hopes of US rate cut this summer. Investors seek refuge in this safe haven asset amid ongoing geopolitical and economic tensions.
Let's take a closer look at how investors can gain exposure to this precious metal.
You might also like: What's Fueling the Surge in Gold Prices?
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Rose2020 : GLP-1 (NVO, LLY, VKTX)
Consumer Defensive (CELH, ELF, WING)