Nasdaq MSFT MicroSoft

The Nasdaq Composite is one of the three major stock market indexes, tracking almost all stocks trading on the Nasdaq exchange. Over the past decade, the Nasdaq Composite has been the best-performing of all major indexes, up more than 275%, compared to 167% and 127% for the S&amp

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

The Invesco QQQ (QQQ) was launched on 03/10/1999, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Growth segment of the US equity market.

The WisdomTree U.S. Quality Dividend Growth ETF (DGRW) was launched on 05/22/2013, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Value category of the market.

Futures tracking the Nasdaq 100 index jumped on Thursday after a stellar forecast from Nvidia boosted investor confidence in an artificial intelligence (AI) boom and lifted shares of major technology and growth stocks.

Futures tracking the Nasdaq 100 index jumped in the early hours of Thursday after record results from Nvidia, the world's most valuable chipmaker, boosted confidence about the artificial intelligence (AI) boom.

The optimism around generative artificial intelligence (AI) has kicked off a rally in several tech stocks this year, with expectations of billions of dollars worth of opportunities in the years ahead. While semiconductor giant Nvidia ( NASDAQ:NVDA ) is being viewed as the frontrunner in the AI space due to its advanced graphics processing units (GPUs) that are required to power AI applications like ChatGPT, several Wall Street analysts are also optimistic about the prospects of chipmaker Advanced Micro Devices ( NASDAQ:AMD ) and see a solid upside potential in the stock. Analysts Bullish on AMD’s Potential   The robust demand for Nvidia’s AI chips due to the generative AI boom has overshadowed other chipmakers like AMD. Nvidia has an early-mover advantage when it comes to AI chips. On Wednesday, Nvidia not only exceeded Wall Street’s lofty expectations for the fiscal second quarter with 101% revenue growth but also issued a guidance that suggests 170% year-over-year top-line growth in Q3 FY24. Meanwhile, AMD’s Q2 FY23 (ended July 1, 2023) results topped expectations despite an 18% year-over-year decline in revenue to $5.4 billion due to persistent weakness in the PC market. Further, the company’s fiscal third-quarter guidance fell short of expectations. Nonetheless, the company is optimistic about the road ahead and projects a “large ramp” in the Data Center segment's performance in the second half of the year. During the second quarter, AMD unveiled its new AI chip, the MI300X chip, the production for which is expected to speed up in the fourth quarter. This chip is anticipated to challenge Nvidia’s dominance in the AI market. Earlier this month, Citigroup analyst Christopher Danely upgraded AMD to Buy from Hold and increased the price target to $136 from $120. The analyst admitted that he was wrong about two aspects – that AMD’s AI products (MI300) would be margin dilutive and investors would eventually notice the expensive valuation of the stock. Echoing similar views, Daniel Skelly, a senior investment strategist at Morgan Stanley on August 10, discussed recent changes made by his firm to its U.S. portfolio. Skelly revealed that Morgan Stanley, which has a Buy rating on AMD, increased its position in the stock, as it views the company as a leader in semiconductor end markets with potential tailwinds in AI. He said the stock’s valuation seems reasonable, given its “potential cyclical and secular positioning into 2024+.” Skelly added that despite worries about cyclical challenges impacting AMD’s core end markets, the company has displayed signs of progress and improved performance. Like Danely and Skelly, Raymond James analyst Srini Pajjuri is also optimistic about the stock. He reiterated a Buy rating on the stock with a price target of $145 on August 2. Following the Q2 earnings call, the analyst noted that AMD’s AI engagements were “tracking well,” given the design wins with Microsoft ( NASDAQ:MSFT ), Meta Platforms ( NASDAQ:META ), and Amazon ( NASDAQ:AMZN ). That said, the analyst thinks it could take time for AMD’s revenue to ramp, as “qualification cycles typically take a few quarters.” Is AMD a Buy, Sell, or Hold? Wall Street has a Strong Buy consensus rating on Advanced Micro Devices stock based on 25 Buys and seven Holds. The average price target of $141.90 implies an upside potential of about 30% from current levels. AMD shares have advanced 69% year-to-date compared to the 222% rise in NVDA stock. Investors should note that  Northland Securities analyst Gus Richard is the most accurate analyst for AMD stock, according to TipRanks. Copying his trades on Advanced Micro Devices and holding each position for one year could result in 85% of your transactions generating a profit, with an average return of about 87.4% per trade. Conclusion While the spotlight is on Nvidia currently due to stellar demand for its AI chips, most Wall Street analysts are also positive about AMD’s growth potential in the AI space. Under the leadership of CEO Lisa Su, AMD has grabbed Intel’s ( NASDAQ:INTC ) market share in the central processing unit (CPU) space over recent years. The company has the financial muscle and technology to compete with Nvidia as well and capture opportunities in the AI market in the years ahead. Disclosure

South Korean internet giant Naver unveiled its own generative artificial intelligence (AI) tool on Thursday, joining the frenzy around the new technology initiated by OpenAI's ChatGPT chatbot.

South Korean internet giant Naver unveiled on Thursday its own generative artificial intelligence (AI) tool, joining the frenzy around the new technology initiated by OpenAI's ChatGPT chatbot late last year.

Nvidia far exceeded expectations with its quarterly revenue forecast on Wednesday as an artificial-intelligence boom fueled demand for its chips and said it would buy back $25 billion in stock, sending its shares soaring after hours.

Company Overview

Nvidia's strong quarterly revenue forecast delivered on Wall Street's high expectations on Wednesday, sparking gains in a range of AI-related stocks and giving a jolt to a stalled U.S. stock market recovery.

Nvidia's strong quarterly revenue forecast delivered on Wall Street's high expectations on Wednesday, sparking gains in a range of AI-related stocks and giving a jolt to a stalled out U.S. stock market recovery.

Autodesk forecast third-quarter revenue above market estimates on Wednesday, as customers look to optimize their industrial and design software amid growing demand in the construction sector.

U.S. stocks ended sharply higher on Wednesday as shares of Nvidia gained ahead of quarterly results from the company whose chips are widely used for artificial intelligence (AI) computing.

The NASDAQ 100 After Hours Indicator is up 155.17 to 15,303.23. The total After hours volume is currently 75,834,703 shares traded.The following are the most active stocks for the after hours session: Kenvue Inc. (KVUE) is unchanged at $23.62, with 9,466,823 shares traded. KVUE'

Chip designer Nvidia forecast third-quarter revenue above Wall Street targets on Wednesday, boosted by soaring demand for its chips that power nearly all the world's major artificial intelligence apps.

Tech stocks were higher late Wednesday afternoon with the Technology Select Sector SPDR Fund (XLK) rising 2% and the Philadelphia Semiconductor index adding 2.4%.

It's been almost a week since Wedbush analyst Dan Ives suggested Apple buy ESPN. There’s been plenty of talk on the subject. The question is whether Apple is the right buyer for the cable sports network.