Benzinga examined the prospects for many investors’ favorite stocks over the last week. Here’s a look at some of our top stories.
The three major averages posted gains for the week, with the Dow up nearly 1.3%, the Nasdaq gaining 1.4%, and the S&P 500 rising 1.45%.
Stocks moved higher Friday morning after Federal Reserve Chair Jerome Powell signaled potential interest rate decreases during his Jackson Hole speech, stating, "The time has come for policy to adjust." However, Powell refrained from specifying the timing or extent of any rate cuts, emphasizing a data-driven approach.
The anticipation of lower rates contributed to a drop in the dollar, which hit its lowest level in over a year, and boosted interest rate-sensitive sectors like small-cap stocks, real estate, and regional banks.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week’s most bullish and bearish posts that are worth another look.
The Bulls
“Goldman Sachs Is Bullish On Nvidia Ahead Of Earnings: Risk-Reward For AI Stock ‘Favorable’,” by Piero Cingari, details Goldman Sachs’ optimistic outlook on Nvidia Corp. NVDA, driven by strong AI demand and Data Center growth, with potential for an 89% stock price increase despite risks from delayed GPU launches.
“‘Make As Much Money As Possible' Before AI ‘Renaissance,' Says Raoul Pal, Who Sees Bitcoin As ‘The Standout Asset',” by Khyathi Dalal, features Raoul Pal‘s advice to capitalize on assets like Bitcoin BTC/USD before AI and robotics reshape the economy, emphasizing Bitcoin’s historical outperformance amid ongoing currency debasement.
“Broadcom Secures Major Wins With OpenAI, Google, Meta As It Targets $150B AI Market,” by Surbhi Jain, highlights Broadcom Inc. AVGO securing critical AI ASIC partnerships with OpenAI, Google parent Alphabet Inc. GOOGL, and Meta Platforms Inc. META, positioning itself to capitalize on a $150 billion AI market.
For additional bullish calls of the past week, check out the following:
Amazon’s ‘Multi-Billion Dollar Run Rate’ In AI Drives Strategist To Double Down On Stock
Carvana Defies The Odds With 217% YTD Rally: Is The Comeback Story Real?
The Bears
“Tesla Shares ‘Kind Of Dead In The Water’ Until This Happens, Says Portfolio Manager, Blames CEO Elon Musk For Alienating Customers ‘Super Important To Him,’” by Shanthi Rexaline, discusses Bill Davis of Hennessy Stance ESG ETF expressing concerns about Tesla Inc. TSLA due to its absence in the low-cost EV segment and Elon Musk‘s leadership, suggesting the stock may remain stagnant until Tesla addresses these issues.
“Intel Board Member Lip-Bu Tan Resigns Amid Chipmaker’s Struggle With Cost Cuts,” by Anusuya Lahiri, reports that Lip-Bu Tan resigned from Intel Corp.‘s INTC board to reprioritize commitments, as the company faces challenges with its $10 billion cost-reduction plan amid a 39% stock decline over the past year.
“Snowflake Investors ‘Further Confused’ After Q2 Earnings: One Analyst Says They Know Why,” by Priya Nigam, explains why Snowflake Inc. SNOW shares dropped 13.5%, as analysts pointed to mixed signals from management’s guidance despite strong quarterly results, leaving investors puzzled over the company’s growth outlook.
For more bearish takes, be sure to see these posts:
Fisker Recalls Nearly 8K Ocean SUVs Over Risks Of Reduced Braking Performance
Boeing’s 777X Faces Yet Another Setback: Structural Cracks Reportedly Force Grounding Of Test Fleet
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence via Midjourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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