Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
The S&P 500, tracked by the SPDR S&P 500 ETF Trust SPY, experienced its sharpest weekly decline in over 18 months, marking the largest drop since the March 2023 banking crisis.
A weaker labor market report prompted investors to reduce risk exposure after three consecutive weeks of gains, leading to a broad selloff.
On Friday, the S&P 500 fell 1.7%, bringing its weekly loss to 4.1%, while tech stocks saw even steeper declines, as tracked by the Invesco QQQ Trust QQQ.
The semiconductor sector, represented by the iShares Semiconductor ETF SOXX, took the biggest hit, dropping 4.3% on Friday and ending the week down 11.8%, its worst performance since March 2020.
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
“Nvidia Takes A Page From Apple’s Playbook: Jensen Huang Wants AI Stalwart To Go Beyond Chips And Be One-Stop Shop For Data Center Clients,” by Shanthi Rexaline, outlines how Nvidia Corp. NVDA CEO Jensen Huang aims to transform the company into a complete AI solution provider, offering software, networking, and services beyond just AI chips.
“Elon Musk Thinks Dogecoin Payments Could Potentially Help Starlink Get Around Brazil Freezing Its Bank Accounts,” by Anan Ashraf, discusses how Elon Musk is considering using Dogecoin DOGE/USD for SpaceX’s Starlink services in Brazil after the country’s Supreme Court froze Starlink's bank accounts over legal disputes.
“Amazon Analyst Says Company's ‘Dominant Competitive Position' In Ecommerce, AWS ‘Provides A Lot To Be Bullish About’,” by Chris Katje, highlights Amazon.com Inc. AMZN strong competitive positioning in e-commerce and cloud (AWS), emphasizing potential upside from generative AI adoption and ongoing logistics efficiencies.
For additional bullish calls of the past week, check out the following:
Apple, Nvidia Will Lead 3-To-5-Year Tech Bull Run, Analyst Says: ‘I Am A Buyer Here’
The Bears
“Google, DOJ Trial Drama To Hit Earnings By Up To 10%, Says JPMorgan: Status Quo Is No Longer Possible,” by Surbhi Jain, outlines how Alphabet Inc. GOOG GOOGL faces potential financial hits due to DOJ trial remedies, with possibilities ranging from opening up search distribution channels to rivals to a worst-case scenario of Chrome or Android breakups, potentially reducing earnings by 10-20%.
“EXCLUSIVE: Apple’s iPhone 16 Launch Will Be ‘Disappointment Before The Excitement,’ Gene Munster Says,” by Michael Juliano, reports that Gene Munster of Deepwater Asset Management expects Apple Inc. AAPL shares to dip initially after the iPhone 16 launch, but predicts significant revenue growth in the coming year.
“Tesla Bear Slams FSD China Release Timeline As ‘Meaningless Announcement,’ Calls It Overused ‘Pump’ Tactic Amid Share Price Decline,” by Anan Ashraf, reports how Gordon Johnson, CEO of GLJ Research, criticizes Tesla Inc. TSLA for announcing a 2025 timeline for Full Self-Driving (FSD) in China and Europe, calling it a stock-pumping strategy amid falling earnings.
For more bearish takes, be sure to see these posts:
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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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