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iShares Core S&P 500 ETF

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The Fund seeks to track the investment results of the S&P 500; the Underlying Index, which measures the performance of the large-capitalization sector of the U.S. equity market, as determined by S&P Dow Jones Indices LLC; the Index Provider or SPDJI.

Apple Inc

Microsoft Corp

Nvidia Corp.

Amazon.Com Inc

Meta Platforms Inc

Alphabet Inc.Class A

Alphabet Inc Cl C

Berkshire Hathaway, Inc.

Broadcom Inc Common

Eli Lilly & Co.

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NVDA

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Azioni Nvidia in rialzo nonostante il crollo di 900 miliardi: perché il titolo sta performando bene nella giornata di venerdì?

Cosa sta succedendo alle azioni Nvidia venerdì?

BlackRock ETF Trust II iShares Large Cap Deep Buffer ETF

Invivyd Inc

IVIVI TECHNOLOGIES INC by IVIVI Technologies, Inc.

Ivivi Technologies Inc

BlackRock ETF Trust II iShares Large Cap Moderate Buffer ETF

iShares Trust iShares S&P 500 BuyWrite ETF

Throughout 2024, Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) insiders have been actively selling shares, tallying transactions over $1.8 billion, with expectations of more to come, <a href="https://www.bloomberg.com/news/articles/2024-10-03/nvidia-insider-share-sales-top-1-8-billion-and-more-are-coming?sref=TBDibEcD" target="_blank" rel="noreferrer noopener">Bloomberg</a> reports.
The most notable of these insiders, CEO Jensen Huang, executed sales of approximately $713 million through a predetermined trading arrangement known as a 10b5-1 plan. Director&nbsp;Mark Stevens'&nbsp;trust has&nbsp;filed&nbsp;to sell 3 million additional shares in addition to the 1.6 million it sold in 2024.
This massive wave of stock sales occurs amid market anxieties surrounding Nvidia's delayed Blackwell chips and ongoing investments in AI technology.
Despite these concerns, insiders maintain a robust holding, illustrating a potentially strategic timing rather than a loss of confidence. Still, Nvidia stock is up 179% in the last 12 months, and its outstanding shares stand at 23.5 billion.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41169322/amazons-profitable-essential-merchandise-efficiency-gains-set-to-drive-growth-analyst" rel="noreferrer noopener">Amazon's Profitable Essential Merchandise, Efficiency Gains Set To Drive Growth: Analyst</a>
Recently, Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chief Jensen Huang dispelled Wall Street concerns by <a target="_blank" href="https://www.benzinga.com/news/24/10/41168777/whats-going-on-with-nvidia-stock-on-thursday" rel="noreferrer noopener">acknowledging massive demand</a> for Nvidia's Blackwell&nbsp;GPU, whose production and progress are going as planned.
Meanwhile, Nvidia is applying spatial AI in autonomous driving and warehouse automation, using robots to simulate real-world scenarios.
Nvidia's <a target="_blank" href="https://www.benzinga.com/news/24/10/41139084/nvidia-expands-ai-offerings-with-new-open-source-models-and-unreal-engine-5-plugins" rel="noreferrer noopener">recent launches include</a> open-source AI models and new Unreal Engine 5 plugins enabling AI-powered MetaHuman characters, catering to AI-driven gaming.
Wedbush analyst Dan Ives projected <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41151741/nvidias-ai-leadership-to-drive-1-trillion-market-growth-with-accenture-partnership-" rel="noreferrer noopener">Nvidia as a beneficiary</a> of the trillion-dollar AI spending by the U.S. hyperscalars.
Investors can gain exposure to Nvidia through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
<h2 class="wp-block-heading">Nvidia Stock Prediction For 2024</h2>
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at NVIDIA, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For NVIDIA, the 200-day moving average sits at $95.76, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is below the current price of $122.85. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
Price Action:&nbsp;NVDA stock is up 0.39% at $123.33 premarket at the last check Friday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/government/24/10/41140484/taiwan-semiconductor-has-soared-96-but-geopolitical-risks-persist" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor Has Soared 96% But Geopolitical Risks Persist</a></li>
</ul>
Image via Shutterstock

Nvidia's Top Brass Unloaded Significant Stock In 2024 Amid AI Spending and Chip Delays

The U.S. exchange-traded fund (ETF) market has reached a monumental milestone, surpassing <a href="https://www.benzinga.com/quote/SPY/news">$10 trillion in assets</a>. 
This surge was fueled by a remarkable $691 billion in inflows this year alone, as <a href="https://www.bloomberg.com/news/articles/2024-09-27/wall-street-s-etf-assets-hit-10-trillion-milestone-amid-frenzy?srnd=phx-latest&amp;sref=TBDibEcD&amp;leadSource=uverify%20wall">reported</a> by Bloomberg. 
This impressive surge has set the stage for a record-breaking year, with ETF flows on track to shatter the previous record of $900 billion in inflows.
<h1 class="wp-block-heading">VOO, VGT Outshine SPY In Fund Flows</h1>
According to ETF.com <a href="https://www.etf.com/etfanalytics/etf-fund-flows-tool">data</a>, as of the end of Aug.2024, the market saw a robust performance, with a total of $71 billion pouring into ETFs during the month. Leading the charge were heavyweights such as the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and the Vanguard Information Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>), while the SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) experienced notable outflows.
As investors diversify their portfolios, it's clear that ETFs are becoming the go-to investment vehicle.
<h1 class="wp-block-heading">VOO, IVV, VTI Lead YTD Gains</h1>
Among the top gainers for the year were the S&amp;P 500 index-tracking Vanguard S&amp;P 500 ETF and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>). The Vanguard S&amp;P 500 ETF has made a significant mark, attracting over $60.5 billion in net flows and boasting an impressive $503 billion in assets under management (AUM). This translates to 12.04% of its AUM, a testament to the confidence investors have in the S&amp;P 500's performance.
Following closely is the iShares Core S&amp;P 500 ETF, raking in about $43.4 billion in net flows, while the Vanguard Total Stock Market Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>) pulled in a respectable $21 billion.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41096120/if-you-invested-1-000-in-bitcoin-when-donald-trump-said-he-wasnt-a-fan-heres-how-much-youd">If You Invested $1,000 In Bitcoin When Donald Trump Said He Wasn&#8217;t A Fan, Here&#8217;s How Much You&#8217;d Have Today</a>
<h1 class="wp-block-heading">Tech-Focused QQQ, Bitcoin ETF Not Far Behind</h1>
The tech sector hasn't been left behind either, with Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) gathering nearly $20.9 billion this year, showcasing a vibrant interest in technology stocks.
The cryptocurrency space is also making waves, as seen in the remarkable inflows into iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), which attracted around $20.9 billion, capturing an astonishing 98.63% of its AUM.
With these trends, it&#8217;s clear that ETFs continue to be a major player in the investment landscape, providing investors with diverse options and strategic exposure to various sectors. 
As the market evolves, one thing is certain: the ETF party is just getting started!
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/09/41033617/voo-vs-vti-vanguards-s-p-500-total-stock-market-etfs-hit-new-highs-as-s-p-500-reaches-record-level">VOO Vs. VTI: Vanguard&#8217;s S&amp;P 500, Total Stock Market ETFs Hit New Highs As S&amp;P 500 Reaches Record Level</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Sector ETFs

Broad U.S. Equity ETFs

Trading Ideas

ETFs

IBIT

S&P 500 ETF Titans Drive $691B In 2024 Inflows: Nasdaq, Bitcoin ETFs Close Behind

Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Chair and Chief Satya Nadella reaffirmed the company&#8217;s commitment to Mexico during his keynote at the <a target="_blank" href="https://news.microsoft.com/es-xl/microsoft-announces-1-3-billion-usd-investment-in-cloud-and-ai-infrastructure-supporting-inclusive-growth-through-technology-and-skilling-programs-in-mexico/" rel="noreferrer noopener">Microsoft AI Tour 2024</a>.
Nadella announced a fresh investment of $1.3 billion over the next three years to drive AI infrastructure and initiatives aimed at digital marketing and AI skills. This initiative seeks to democratize access to AI skills and reach 5 million people.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/41012804/salesforces-free-cash-flow-could-double-by-2029-amid-ai-push-analyst-says-while-upgrading-stock" rel="noreferrer noopener">Salesforce&#8217;s Free Cash Flow Could Double by 2029 Amid AI Push, Analyst Says While Upgrading Stock</a>
The investment will also work on improving connectivity and encouraging AI adoption by small and medium-sized businesses.
Recently, DA Davidson analyst Gil Luria <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40986921/microsofts-ai-lead-shrinks-analyst-downgrades-stock-as-amazon-and-google-close-the-" rel="noreferrer noopener">downgraded the rating</a> on&nbsp;Microsoft to Neutral from Buy as it lost its premium valuation to the AI competition.
Microsoft&#8217;s lead is now diminished in both the cloud and code generation businesses versus &nbsp;Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Amazon Web Service, and&nbsp;Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google Cloud.
The AI ambitions of hyperscalers, including Microsoft, Amazon, Alphabet, and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), have been instrumental in driving the AI frenzy, leading to higher demand for Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI chips.
Microsoft&nbsp;stock is up over 35% in the last 12 months. Investors can gain exposure to Microsoft through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: MSFT stock is trading higher by 0.08% to $429.52 premarket at the last check on Wednesday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41008834/ansys-taiwan-semiconductor-microsoft-team-up-to-supercharge-next-gen-chip-simulations" target="_blank" rel="noreferrer noopener">ANSYS, Taiwan Semiconductor, Microsoft Team Up To Supercharge Next-Gen Chip Simulations</a></li>
</ul>
Photo courtesy: Shutterstock

Government

Regulations

GOOG

Microsoft Invests $1.3B to Boost AI Skills and Infrastructure in Mexico

Designed to provide broad exposure to the Large Cap Blend segment of the US equity market, the Invesco Russell 1000 Equal Weight ETF (ARCA:EQAL) is a passively managed exchange traded fund launched on 12/23/2014.
The fund is sponsored by Invesco. It has amassed assets over $609.44 million, making it one of the average sized ETFs attempting to match the Large Cap Blend segment of the US equity market.
<h2>Why Large Cap Blend</h2>
Large cap companies usually have a market capitalization above $10 billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.
Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.
<h2>Costs</h2>
When considering an ETF&#39;s total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.
Annual operating expenses for this ETF are 0.20%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 1.67%.
<h2>Sector Exposure and Top Holdings</h2>
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund&#39;s holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Information Technology sector--about 12.20% of the portfolio. Financials and Real Estate round out the top three.
Looking at individual holdings, Charter Communications Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chtr#NASDAQ">CHTR</a>) accounts for about 0.69% of total assets, followed by Liberty Broadband Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lbrdk#NASDAQ">LBRDK</a>) and Ubiquiti Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ui#NYSE">UI</a>).
The top 10 holdings account for about 6.03% of total assets under management.
<h2>Performance and Risk</h2>
EQAL seeks to match the performance of the Russell 1000 Equal Weight Index before fees and expenses. The Russell 1000 Equal Weight Index is composed of securities in the Russell 1000 Index and is equally weighted across nine sector groups with each security within the sector receiving equal weight.
The ETF has added about 9.20% so far this year and it&#39;s up approximately 16.71% in the last one year (as of 09/17/2024). In the past 52-week period, it has traded between $37.43 and $47.80.
The ETF has a beta of 1.10 and standard deviation of 18.24% for the trailing three-year period, making it a medium risk choice in the space. With about 997 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
Invesco Russell 1000 Equal Weight ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, EQAL is a reasonable option for those seeking exposure to the Style Box - Large Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Core S&amp;P 500 ETF (ARCA:IVV) and the SPDR S&amp;P 500 ETF track a similar index. While iShares Core S&amp;P 500 ETF has $521.05 billion in assets, SPDR S&amp;P 500 ETF has $555.26 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
<h2>Bottom-Line</h2>
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
<a href="https://www.zacks.com/stock/news/2336917/should-invesco-russell-1000-equal-weight-etf-eqal-be-on-your-investing-radar?cid=CS-BENZ-FT-style_box_etf-2336917">To read this article on Zacks.com click here.</a>

Large Cap

Mid Cap

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CHTR

EQAL

LBRDK

Should Invesco Russell 1000 Equal Weight ETF Be on Your Investing Radar?

Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;rally disproportionately influences the S&amp;P 500 index, reflecting concerns over the domino effect due to the integrated semiconductor ecosystem.
Nvidia accounted for 25% of the S&amp;P 500&#8217;s 17% gain in 2024, Reuters reports.
The chip designer has risen by 166% in the last 12 months as Big Techs, including Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Google parent Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), splurge on their artificial intelligence ambitions.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16120007/newplot-12.png" alt="" class="wp-image-550044" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16120007/newplot-12.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/16120007/newplot-12-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40820316/amd-gains-ground-in-ai-chip-market-oracle-exec-confirms-growing-demand-report" rel="noreferrer noopener">AMD Gains Ground in AI Chip Market, Oracle Exec Confirms Growing Demand: Report</a>
The rising valuation of NvidiaNVIDIA in 2024 has helped boost the wealth of Jensen Huang, the co-founder and CEO of the company that was once created inside <a target="_blank" href="https://www.benzinga.com/general/social-media/24/03/37879478/humble-beginnings-like-nvidia-reddit-was-founded-inside-a-restaurant" rel="noreferrer noopener">a Denny&#8217;s restaurant.</a>
Huang has a wealth of $90.5 billion, ranking 18th according to <a target="_blank" href="https://www.bloomberg.com/billionaires/" rel="noreferrer noopener">Bloomberg</a>. While Huang hasn&#8217;t cracked the top 10 list yet and would currently need to hit a wealth of $130 billion, the Nvidia co-founder is one of the fastest risers among the world&#8217;s richest people. Huang&#8217;s wealth is up $46.4 billion year-to-date in 2024.
That figure is more than the combined $41.83 billion gained by Elon Musk, Jeff Bezos and Bill Gates. Musk, Bezos and Gates currently rank first, second and fifth, respectively, with their current wealth and year-to-date gains.
<ul>
<li>Elon Musk: $237 billion, +$7.73 billion year-to-date</li>
<li>Jeff Bezos: $195 billion, +$17.9 billion year-to-date</li>
<li>Bill Gates: $157 billion, +$16.2 billion year-to-date</li>
</ul>
The gain by Huang is one of the largest year-to-date gains, trailing only Meta Platforms CEO Mark Zuckerberg, who is up $49.9 billion and listed fourth at $178 billion.
It&#8217;s not just personal wealth &#8211; due to the AI frenzy, Huang expects hyper-scale customers to produce <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40837620/nvidia-ceo-jensen-huang-eases-investor-concerns-on-ai-demand-blackwell-timeline-and" rel="noreferrer noopener">$5 in rental revenue</a> for every $1 spent on Nvidia&#8217;s infrastructure. He also reiterated that Blackwell-based products will ship in the fourth fiscal quarter.
This indicates that Nvidia stock losing value would impact the S&amp;P500 and Huang&#8217;s wealth. However, Huang had snubbed <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/09/40820349/nvidia-ceo-jensen-huang-admits-its-tense-as-surging-demand-for-blackwell-chips-sparks-customer-fru" rel="noreferrer noopener">geopolitical tensions surrounding</a> supplier&nbsp;Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), voicing the possibility of switching suppliers.&nbsp;
Microsoft, Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Nvidia have a combined weighting of 20% in the S&amp;P 500. Microsoft gained 31%, and Apple has risen 22% in the last 12 months as they remain invested in their AI goals.
Investors can gain exposure to Nvidia and the S&amp;P 500 through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: NVDA stock closed lower by 1.95% to $116.78 on Monday.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40790997/taiwan-semiconductors-strong-august-sales-hint-at-big-gains-ahead-ai-and-iphone-demand-fuel-optimism" target="_blank" rel="noreferrer noopener">Taiwan Semiconductor&#8217;s Strong August Sales Hint at Big Gains Ahead, AI and iPhone Demand Fuel Optimism</a></li>
</ul>
Image via Shutterstock

AAPL

Nvidia's AI Surge Powers 25% of S&P 500 Gains in 2024, Makes Co-founder Huang Among Fastest Growing: Report

Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) client Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) acknowledged the chip designer gaining traction in the data center chip market for artificial intelligence despite Nvidia Corp&#8217;s moat.
Oracle cloud business executive Karan Batta <a target="_blank" href="https://www.theinformation.com/articles/oracle-exec-amd-gaining-favor-in-nvidia-dominated-market-for-ai-chips" rel="noreferrer noopener">told</a> the Information regarding customers&#8217; openness to multiple vendors for inference computing implying opportunities for AMD and rivals.
<a target="_blank" href="https://www.benzinga.com/news/24/09/40776199/amd-vs-nvidia-amds-surprising-strategy-shift-in-gaming-gpu-battle" rel="noreferrer noopener">Recent reports indicated</a> AMD is currently ditching the premium gaming GPU market for the mainstream and mid-range GPUs. The update followed after AMD hired Nvidia&#8217;s Keith Strier to helm AMD&#8217;s AI vision.&nbsp;
BofA Securities analyst Justin Post hailed the recent Oracle and Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) partnership. This partnership<a target="_blank" href="https://www.benzinga.com/news/24/09/40800539/amazon-and-oracle-partnership-unlocks-major-cloud-growth-opportunity-analyst-suggests" rel="noreferrer noopener"> offers cloud providers</a> a sizable opportunity to unlock demand for infrastructure and applications, which in turn implies demand for Nvidia and AMD AI chips.
Mai Capital Management portfolio manager&nbsp;Chris Grisanti, in a CNBC interview, cold-shouldered <a target="_blank" href="https://www.benzinga.com/news/24/09/40800236/nvidia-faces-investor-scrutiny-over-blackwell-chip-delays-big-revenue-expected-report" rel="noreferrer noopener">the recent semiconductor</a> and AI chip stock selloff, citing sustained AI ambitions of cash-rich Big Tech giants.
JPMorgan analyst Harlan Sur&nbsp;projects AMD&#8217;s revenue from data center GPUs to grow&nbsp;by&nbsp;$5 billion&nbsp;in the current&nbsp;fiscal year.
AMD stock gained 35% in the last 12 months. Investors can gain exposure to AMD through iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) and Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Price Actions: AMD stock is up 2.32% at $156.15 at the last check Wednesday.
Photo by jamesonwu1972 via Shutterstock

ORCL

AMD Gains Ground in AI Chip Market, Oracle Exec Confirms Growing Demand: Report

Intel&nbsp;Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) CFO David Zinsner expects to generate a &#8220;meaningful&#8221; amount of revenue from its contract chip manufacturing business in 2027, Reuters cites the company&#8217;s CFO at an investor conference on Wednesday.
Intel is currently discussing with 12 potential customers how to generate revenue in 2026 and additional cash in 2027.
The stock has fallen since reports indicated Intel&#8217;s <a target="_blank" href="https://www.benzinga.com/news/24/09/40713483/whats-going-on-with-intel-stock" rel="noreferrer noopener">failure to impress</a> Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) with its latest wafer production.
Intel stock plunged over 47% in the last 12 months as it failed to milk the <a target="_blank" href="https://www.benzinga.com/news/24/09/40692084/intels-place-in-dow-in-jeopardy-ai-strategy-under-scrutiny-report" rel="noreferrer noopener">artificial intelligence boom</a>. Its contract manufacturing unit lost out to&nbsp;Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
Intel scrapped its 20A manufacturing process for the more advanced 18A manufacturing process, Zinsner told Reuters. Recent reports indicated Intel <a target="_blank" href="https://www.benzinga.com/m-a/24/08/40648165/intel-weighs-major-business-split-factory-delays-amid-strategic-review-report" rel="noreferrer noopener">weighing strategic options</a>, including splitting its product design and manufacturing businesses.
Analysts and investors also speculate Intel is losing its Dow Jones Industrial Average position.
Intel expects a U.S. chip grant not until the end of 2024, posing another dampener for the company, especially after being called out by Republican Senator Rick Scott&nbsp;over its record downsizing plans.
Investors can gain exposure to Intel through Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
<h2 class="wp-block-heading">Intel Stock Prediction For 2024</h2>
Intel&#8217;s revenue growth in FY23 was -14.0%, reflecting the influence of various factors including the macroeconomic environment, demand for its products and services, and its position relative to competitors. This growth is a critical indicator for investors assessing the company&#8217;s future prospects.
Some macro factors that could impact the company's performance in the next year include higher interest rates, progress on reeling in inflation and labor market strength. The Fed's benchmark rate is currently at 5.33%, while PPI recently came in at 0.1%, growing 2.2% from last year. The unemployment rate was most recently reported as 4.3%.
An investor should pay attention to economic conditions to decide whether they think the macro environment is positive or negative for Intel stock. For real time economic data and breaking market updates, <a href="https://pro.benzinga.com/">check out Benzinga Pro. Try it for free.</a>
How does this stack up against Intel's peers?
Investors may also want to analyze a stock in comparison to companies with similar products or in similar industries. Intel operates in the Information Technology sector. The stock has experienced average annual growth of -28.66% compared to the 7.48% average of its peer companies. This is below the broader sector movement of Intel.
Price Action: INTC stock is up by 0.41% at $19.52 at the last check on Thursday.
Photo via Shutterstock

AVGO

INTC

What's Going On With Intel Stock On Thursday?

Undeterred by early August volatility, investors poured a staggering $75 billion into U.S. exchange-traded funds in August, a fivefold increase compared to the <a href="https://www.benzinga.com/etfs">same period last year.</a>
According to Bloomberg data, the strong August inflows into ETFs have pushed the year-to-date total to over $600 billion, putting 2024 on track to potentially challenge the all-time record of $911 billion in inflows, set in 2021 — a year before the Federal Reserve initiated its rate hike cycle.
Athanasios Psarofagis, an ETF analyst at Bloomberg Intelligence, highlighted that investors took advantage of the early August market dip to increase their equity ETF holdings. Additionally, there was a notable surge in demand for bond-related ETFs and small-cap ETFs as investors anticipate the start of the Federal Reserve's rate cuts.
<h3 class="wp-block-heading">ETF Market Nears $10 Trillion In Total Value</h3>
Bloomberg data reveals the total value of ETFs is approaching the $10-trillion mark, representing nearly one-third of the total value of all investment funds in circulation. Passive ETFs dominate this space with $8.7 trillion in assets, while actively managed ETFs have grown by 30% this year to $783 billion.
Both fixed-income and equity ETFs have seen strong inflows, with fixed-income products attracting $187 billion and equity ETFs $367 billion so far in 2024. 
Todd Sohn, an ETF strategist at Strategas, said bond ETFs have particularly benefited from an array of new offerings, including actively managed funds. Bond ETFs have attracted $100 billion over the last three months, surpassing the inflows seen during the early pandemic-recovery period in 2020.
Bitcoin-based ETFs have also gained traction, with net inflows exceeding $17 billion so far this year. Leveraged and inverse funds based on single companies have accumulated more than $9 billion in assets.
<h3 class="wp-block-heading">Top 5 ETFs By Inflows In August 2024</h3>
The following U.S.-listed ETFs saw the largest inflows of capital in August 2024:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Fund</th>
<th>Fund flows in August 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>)</td>
<td>$5.964 bn</td>
</tr>
<tr>
<td>Vanguard Information Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VGT#NYSE">VGT</a>)</td>
<td>$3.906 bn</td>
</tr>
<tr>
<td>iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>)</td>
<td>$3.038 bn</td>
</tr>
<tr>
<td>iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>)</td>
<td>$2.49 bn</td>
</tr>
<tr>
<td>Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>)</td>
<td>$2.358 bn</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: TradingView (as of Sept. 3)</figcaption></figure>
<h3 class="wp-block-heading">Year-To-Date ETF Inflow Leaders</h3>
Year-to-date, the top five ETFs by inflows are:
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Fund</th>
<th>YTD fund flows</th>
</tr>
</thead>
<tbody>
<tr>
<td>Vanguard S&amp;P 500 ETF</td>
<td>$60.648 bn</td>
</tr>
<tr>
<td>iShares Core S&amp;P 500 ETF</td>
<td>$43.532 bn</td>
</tr>
<tr>
<td>Vanguard Total Stock Market ETF</td>
<td>$21.098 bn</td>
</tr>
<tr>
<td>Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)</td>
<td>$19.329 bn</td>
</tr>
<tr>
<td>iShares Core U.S. Aggregate Bond ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGG#NYSE">AGG</a>)</td>
<td>$14.152 bn</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data: TradingView (as of Sept. 3)</figcaption></figure>
Read Next:
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Photo via Shutterstock.

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US ETFs Attract $75 Billion In August, Push 2024 Inflows Over $600 Billion: 7 Investor Favorite Funds

Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) stock is trading higher Monday after the chip designer forged an <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40436040/amd-to-significantly-expand-data-center-ai-systems-capabilities-with-acquisition-of-hyperscale-sol" rel="noreferrer noopener">agreement to acquire</a> ZT Systems.
AMD agreed to acquire&nbsp;ZT Systems, a provider of AI infrastructure for hyperscale computing companies, in a cash and stock transaction valued at $4.9 billion, including an earnout payment of up to $400 million.
AMD expects the transaction to be accretive on an adjusted basis by the end of 2025.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40347392/apple-intel-and-amd-lead-charge-in-ai-capable-pc-market-surge-report" rel="noreferrer noopener">Apple, Intel, And AMD Lead Charge In AI-Capable PC Market Surge: Report</a>
ZT Systems will join the AMD Data Center Solutions Business Group. ZT CEO Frank Zhang will lead the manufacturing business, and ZT President Doug Huang will lead the design and customer enablement teams.
AMD will seek a strategic partner to acquire ZT Systems&#8217; U.S. data center infrastructure manufacturing business.
AMD has invested over $1 billion to expand the AMD AI ecosystem and boost its AI software capabilities.
AMD Chair and CEO&nbsp;Dr. Lisa Su: &#8220;ZT adds world-class systems design and rack-scale solutions expertise to significantly strengthen our data center AI systems and customer enablement capabilities. This acquisition also builds on the investments we have made to accelerate our AI hardware and software roadmaps.&#8221;
AMD held $5.34 billion in <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g40050533/amd-reports-second-quarter-2024-financial-results" rel="noreferrer noopener">cash and equivalents</a> as of June 29, 2024.
JPMorgan analyst Harlan Sur&nbsp;expects AMD to grow&nbsp;data center GPU revenue&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/08/40347392/apple-intel-and-amd-lead-charge-in-ai-capable-pc-market-surge-report" rel="noreferrer noopener">by over $5 billion</a> in fiscal 2024 courtesy of market share win in server and PC CPUs.
AMD stock gained over 37% in the last 12 months. Investors can gain exposure to the stock through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Actions: At the last check on Monday, AMD shares were trading higher by 2.55% at $152.35 premarket.
Also Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40168042/intels-10b-cost-cut-seen-as-necessary-but-not-enough-for-competitive-edge-analyst" target="_blank" rel="noreferrer noopener">Intel&#8217;s $10B Cost Cut Seen as Necessary but Not Enough for Competitive Edge: Analyst</a></li>
</ul>
Photo courtesy of AMD

AMD Expands AI Capabilities, Acquires ZT Systems in Major $4.9B Deal

Making its debut on 05/08/2007, smart beta exchange traded fund First Trust Large Cap Core AlphaDEX ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fex#NASDAQ">FEX</a>) provides investors broad exposure to the Style Box - Large Cap Blend category of the market.
<h2>What Are Smart Beta ETFs?</h2>
Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.
A good option for investors who believe in market efficiency, market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns.
But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.
<h2>Fund Sponsor &amp; Index</h2>
Because the fund has amassed over $1.22 billion, this makes it one of the larger ETFs in the Style Box - Large Cap Blend. FEX is managed by First Trust Advisors. FEX, before fees and expenses, seeks to match the performance of the Nasdaq AlphaDEX Large Cap Core Index.
The NASDAQ AlphaDEX Large Cap Core Index is an enhanced index which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 500 Large Cap Index.
<h2>Cost &amp; Other Expenses</h2>
Expense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.60%.
The fund has a 12-month trailing dividend yield of 1.19%.
<h2>Sector Exposure and Top Holdings</h2>
It is important to delve into an ETF&#39;s holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
For FEX, it has heaviest allocation in the Industrials sector --about 16.70% of the portfolio --while Financials and Information Technology round out the top three.
Taking into account individual holdings, Nvidia Corporation accounts for about 0.62% of the fund&#39;s total assets, followed by Vistra Corp. and Crowdstrike Holdings, Inc.
Its top 10 holdings account for approximately 5.26% of FEX&#39;s total assets under management.
<h2>Performance and Risk</h2>
So far this year, FEX has added about 9.35%, and is up about 16.57% in the last one year (as of 08/15/2024). During this past 52-week period, the fund has traded between $76.85 and $100.86.
FEX has a beta of 1.05 and standard deviation of 16.93% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 376 holdings, it effectively diversifies company-specific risk.
<h2>Alternatives</h2>
First Trust Large Cap Core AlphaDEX ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Core S&amp;P 500 ETF (ARCA:IVV) tracks S&amp;P 500 Index and the SPDR S&amp;P 500 ETF&nbsp;tracks S&amp;P 500 Index. IShares Core S&amp;P 500 ETF has $499.77 billion in assets, SPDR S&amp;P 500 ETF has $550.61 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Blend.
<a href="https://www.zacks.com/stock/news/2322378/is-first-trust-large-cap-core-alphadex-etf-fex-a-strong-etf-right-now?cid=CS-BENZ-FT-smart_beta_etf-2322378">To read this article on Zacks.com click here.</a>

Is First Trust Large Cap Core AlphaDEX ETF a Strong ETF Right Now?

Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) has warned about a critical vulnerability named &#8220;SinkClose,&#8221; which affects multiple generations of its EPYC, Ryzen, and Threadripper <a target="_blank" href="https://community.amd.com/t5/processors/no-fix-for-new-sinkclose-exploit-on-3000-series-cpus/m-p/701290" rel="noreferrer noopener">processors</a>.
What Happened? The flaw allows attackers with Kernel-level (Ring 0) privileges to escalate to Ring -2 privileges, high-level access associated with System Management Mode (SMM), where they can install virtually undetectable malware, Bleeping Computer <a target="_blank" href="https://www.bleepingcomputer.com/news/security/new-amd-sinkclose-flaw-helps-install-nearly-undetectable-malware/" rel="noreferrer noopener">reports</a>.
IOActive researchers Enrique Nissim and Krzysztof Okupski discovered that the flaw allows attackers to alter SMM settings even when security measures like SMM Lock are enabled.
The researchers will present their findings at the upcoming DefCon event, shedding light on a flaw that has remained undetected for nearly two decades and impacts a broad range of AMD chip models.
Why Is It Important? This flaw allows malicious code to deeply embed itself within the firmware, making it nearly impossible to detect or remove.
Alarmingly, the vulnerability could persist even after a complete reinstallation of the operating system.
The vulnerability affects various AMD processors, including EPYC (1st to 4th generations), Ryzen Embedded series, Ryzen (3000, 5000, 4000, 7000, and 8000 series), Ryzen Mobile series, Threadripper series, and Athlon Mobile 3000 series, among others.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/13044611/newplot-1-3.png" alt="" class="wp-image-491593" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/13044611/newplot-1-3.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/13044611/newplot-1-3-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
AMD has already rolled out mitigations for EPYC and Ryzen desktop and mobile CPUs, with additional fixes for embedded CPUs expected soon.
AMD plans to release a fix for its 5000 and 7000 series processors, but users of the 3000 series desktop processors need more time. Despite these relatively recent CPUs being released in late 2019 and 2020, the company has decided not to issue a patch for them.
Rosenblatt&nbsp;analyst Hans Mosesmann <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40016694/intel-analyst-flags-amd-competition-as-key-challenge-predicts-modest-growth-for-q2" rel="noreferrer noopener">maintained a Sell rating</a> on Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) &nbsp;as&nbsp;AMD continues to gain share on EPYC4 and newer EPYC5 road maps.
AMD stock lost 24% in the last 30 days amid a broader sector selloff. The stock is still up over 225 in the last 12 months. Investors can gain exposure to the stock through SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Actions: AMD shares were trading higher by 2.64% at $140.36 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

AMD Issues Alert On Major Vulnerability Found in Multiple CPUs

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has seen its market value decline by $900 billion since its peak in June 2024, despite the ongoing surge in artificial intelligence (AI) spending.
While this drop might suggest a cooling of the AI boom that propelled Nvidia to its heights, the underlying trends tell a different story.
U.S. Big Tech giants led by Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), which represent over 40% of Nvidia&#8217;s revenue, have all committed to continued investment in AI infrastructure, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-08-08/nvidia-has-lost-900-billion-even-as-ai-spending-plans-ramp-up?sref=TBDibEcD" rel="noreferrer noopener">reports</a>. Nvidia stock is trading up on Friday.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/09041454/newplot-7.png" alt="" class="wp-image-486190" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/09041454/newplot-7.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/09041454/newplot-7-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/08/40227015/nvidia-greenlights-samsungs-fifth-gen-hbm3e-chips-for-ai-processors-report" rel="noreferrer noopener">Nvidia Greenlights Samsung&#8217;s Fifth-Gen HBM3E Chips for AI Processors: Report</a>
Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), a company that manufactures <a target="_blank" href="https://www.benzinga.com/news/24/08/40230388/super-micro-shows-margin-weakness-despite-strong-ai-demand-analyst" rel="noreferrer noopener">data center servers used</a> in AI applications, recently projected sales could reach up to $30 billion over the next year, surpassing analyst expectations.
Key Nvidia supplier Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) saw its revenue surge by 45% in July, outpacing the growth rate from the June quarter.
Analysts forecast Taiwan Semiconductor&#8217;s third-quarter revenue to rise by 37%, and the strong July performance indicates that TSMC might exceed these projections, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-08-09/tsmc-sales-grow-45-in-july-on-strong-ai-chip-demand?srnd=citylab&amp;sref=TBDibEcD" rel="noreferrer noopener">reports</a>.
Rhys Williams, chief strategist at Wayve Capital Management LLC, told Bloomberg that companies have yet to reduce their AI spending or report issues with their AI initiatives.
Srini Pajjuri, managing director and senior research analyst at Raymond James, told Bloomberg the uncertainty surrounding the monetization of AI and questioned how long companies can sustain this level of spending without straightforward returns.
Ken Mahoney, president and CEO of Mahoney Asset Management, told Bloomberg that the recent selloff has brought Nvidia&#8217;s valuation down to about 30 times forward earnings, potentially making it more attractive to long-term investors.
Nvidia stock has increased by over 135% in the last 12 months despite losing 22% in the last 30 days. Investors can gain exposure to Nvidia through the iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>) and the Vanguard Total Stock Market ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTI#NYSE">VTI</a>).
Price Action: NVDA shares traded higher by 1.29% at $106.32 premarket at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo:Shutterstock

What's Going On With Nvidia Stock On Friday?

<a href="https://www.benzinga.com/topic/artificial-intelligence">Artificial intelligence server stock</a> Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) traded lower on Monday, following the broader semiconductor index selloff, which was led by key tech supplier Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
What Happened: AI stocks, which have driven much of 2024&#8217;s market gains, are falling, CNBC <a href="https://www.cnbc.com/2024/08/05/nvidia-super-micro-computer-lead-ai-trade-carnage-with-both-stocks-down-more-than-12percent.html" target="_blank" rel="noreferrer noopener">reports</a>.
These sector declines followed Friday&#8217;s disappointing July jobs report, which heightened recession worries and concerns that the Federal Reserve is slow to cut interest rates to stimulate the economy. Investors are shifting to a risk-off stance. AI stocks with high valuations are being sold off.
Semiconductors and AI chip stocks are jittery. Reports indicate <a href="https://www.benzinga.com/news/24/08/40152477/nvidia-upcoming-chip-launch-faces-delay-due-to-design-flaws-setback-expected-to-impact-meta-microsof" target="_blank" rel="noreferrer noopener">Nvidia&#8217;s AI chip production issues</a> could extend the delay by several months or more.
Nvidia and Super Micro share a close relationship, as per a Forbes <a href="https://www.forbes.com/sites/petercohan/2024/04/22/super-micro-stock-fell-23-nvidia-stock-lost-10---genai-in-trouble/">report</a>. Both CEOs, Charles Liang of Super Micro and Jensen Huang of Nvidia, immigrated to the U.S. from Taiwan. Liang founded Super Micro in 1993 and has collaborated with Nvidia for over 30 years.
Wedbush analyst Matt Bryson expressed optimism about Super Micro&#8217;s long-term <a href="https://www.benzinga.com/news/24/08/40140168/super-micro-computer-earnings-preview-analyst-insights-and-expectations" target="_blank" rel="noreferrer noopener">AI growth prospects</a>. He cites positive demand trends for H100 and H100 servers.
Super Micro Computer stock gained 66% in the last 12 months thanks to the AI frenzy.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/05103803/newplot-1-1.png" alt="" class="wp-image-476632" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/05103803/newplot-1-1.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/05103803/newplot-1-1-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Why It Matters: The AI server market worldwide is projected to reach $430 billion by 2033. That&#8217;s a significant increase from $31 billion in 2023, as per <a href="https://www.statista.com/statistics/1472212/global-ai-server-market-size/" target="_blank" rel="noreferrer noopener">Statista</a>. These AI servers are built to handle the rigorous requirements of AI applications like machine learning.
Investors can gain exposure to Super Micro through the Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: SMCI shares traded lower by 7.00% at $580.13 at last check Monday.
Now Read:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40160872/goldman-sachs-raises-us-recession-odds-treasury-yields-tumble-yen-rallies-as-trader" target="_blank" rel="noreferrer noopener">Goldman Sachs Raises US Recession Odds: Treasury Yields Tumble, Yen Rallies As Traders Bet On Heavy Fed Rate Cuts</a></li>
</ul>

What's Going On With Super Micro Stock Monday?

Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is making significant strides in artificial intelligence with its homegrown AI chips.
In its Austin, Texas, chip lab, Amazon engineers are rigorously testing a new server design that features these AI chips, aiming to reduce reliance on Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) costly chips, Reuters reports.
Amazon&#8217;s efforts align with similar initiatives by rivals Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Google parent Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39463584/nvidia-dominates-gpu-market-as-generative-ai-adoption-grows-analyst-says" rel="noreferrer noopener">Nvidia Dominates GPU Market as Generative AI Adoption Grows, Analyst Says</a>
Rami&nbsp;Sinno, director of engineering for Amazon&#8217;s Annapurna Labs, highlighted the growing customer demand for more affordable alternatives to Nvidia. Annapurna Labs, acquired by Amazon in 2015, is integral to this development.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26042326/newplot-66.png" alt="" class="wp-image-458719" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26042326/newplot-66.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/26042326/newplot-66-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Amazon has been developing its Graviton chips, which perform non-AI computing tasks, for nearly a decade. The latest AI chips, Trainium and Inferentia, offer significant cost savings.
&#8220;The offering of up to 40%, 50% in some cases of improved price and performance means it should be half as expensive as running that same model with Nvidia,&#8221; said David Brown, Vice President of Compute and Networking at AWS, according to Reuters.
Sales at AWS, which accounts for almost 20% of Amazon&#8217;s total revenue, grew by 17% to $25 billion in the January-March quarter compared to the previous year. AWS holds approximately one-third of the cloud computing market, with Microsoft&#8217;s Azure at about 25%.
Analysts view Nvidia as the <a target="_blank" href="https://www.benzinga.com/news/24/07/39842530/whats-going-on-with-nvidia-and-amd-stocks-on-thursday" rel="noreferrer noopener">primary beneficiary in</a> the AI sector. Mizuho Securities reports that Nvidia controls 70% to 95% of the market share for artificial intelligence accelerators.
The Big Tech trio—Google, Microsoft, and Amazon—along with Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>)—contribute more than 40% of Nvidia&#8217;s revenue.
Amazon stock gained over 40% in the last 12 months, reaching a market cap of $1.87 trillion. Nvidia stock surged over 147% in the last 12 months and currently has a market cap of $2.76 trillion. Investors can gain exposure to the stocks through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: AMZN shares traded higher by 1.47% at $182.50 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by Sundry Photography via Shutterstock

Amazon Tests AI Chips in Texas Lab, Aims to Cut Nvidia Costs

Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares are trading higher Monday after Friday&#8217;s announcement that the artificial intelligence server company will become a component of the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g39759336/super-micro-computer-inc-to-join-the-nasdaq-100-index-beginning-july-22-2024" rel="noreferrer noopener">Nasdaq-100 Equal Weighted Index</a>.
Last Friday, Nasdaq said Super Micro will join the Nasdaq-100 Index (NDX) and the Nasdaq-100 Equal Weighted Index (NDXE) before the market opens on Monday, July 22, 2024. In both indices, Super Micro will replace Walgreens Boots Alliance Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39671471/whats-going-on-with-super-micro-computer-stock-on-monday" rel="noreferrer noopener">Super Micro Computer Stock Soars as AI Server Demand Boosts Market Confidence</a>
Super Micro stock also got a boost from Wall Street expecting <a target="_blank" href="https://www.benzinga.com/news/24/07/39768027/whats-going-on-with-taiwan-semi-stock-on-monday" rel="noreferrer noopener">leading contract chipmaker </a>Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) to report a 30% growth in second-quarter profit on Thursday.
Super Micro stock gained over 201% in the last 12 months. Investors can gain exposure to the stock through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: SMCI shares were up 3.19% at $939.00 premarket at the last check Monday.
Image via Shutterstock

Movers

What's Going On With AI Server Stock Super Micro Computer On Monday?

The interest in AI that led the stock market rally over the first half of the year <a href="https://pro.benzinga.com/dashboard">was replicated in private market transactions</a>.
Actively-traded companies within the private market are showing an uptick in trading activity, although IPOs continue to lag behind pandemic-era numbers.
The first half of 2024 was a relief for investors in the private market as activity picked up from the stall that marked the previous two years, with assets delivering positive returns with relatively low volatility, according to a new <a href="https://forgeglobal.com/insights/reports/private-market-appears-poised-to-ride-ai-and-inflation/">report</a> by Forge, a private market analysis firm.
The Stock Market Outperforms Private Markets By Threefold: For the first six months of the year, the Forge Private Market Index grew 5.4%, about a third of the rate of growth of the S&amp;P 500 in the same period. The latter added roughly 15% during the first six months and was up 19% since January by midday Friday.
In June, this difference became more noticeable, with the private market index losing 0.2% and the S&amp;P 500 up by 3.47%.
The S&amp;P 500 is closely monitored through ETFs such as the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>), and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>), which provide various avenues for investment in the S&amp;P 500&#8217;s comprehensive performance.
The private market fund is also lagging behind the Nasdaq Composite, which added 21% in the first six months and is now up by 25% since January.
Private markets, however, performed better than the Russell 2000, which ended the first half of the year with less than 1% growth.&nbsp;
The Russell index had an uptick this week of 5.6% <a href="https://www.benzinga.com//node/39734143">after lighter-than-expected inflation data put attention back on small-cap companies</a>, which are more sensitive to interest rates than large- and mega-cap corporations.
Read Also: <a href="https://www.benzinga.com//node/39748555">Stock Market Bubble May Burst If Trump Wins 2024 Election, Says Top Economist: &#8216;Policies Would Jeopardize&#8230;Victory Against Inflation&#8217;</a>
AI continues to dominate the investment narrative in the private sector as well. <a href="https://www.benzinga.com/news/24/05/39027735/elon-musks-xai-raises-6b-heres-where-it-stands-against-openai-anthropic-and-other-ai-rivals">A $6 billion Series B raise by Elon Musk's xAI</a> was a semester highlight, along with <a href="https://www.benzinga.com/markets/equities/24/07/39603383/blackrocks-preqin-acquisition-to-drive-revenue-synergies-analyst-sees-expansion-in-emerging-priv">BlackRock Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) acquisition of Preqin for $3.2 billion</a> and AlphaSense's acquisition of Tegus for $930 million.
The 3 Best-Performing Unicorns:&nbsp;
<ul>
<li>The private market index has been led in the first semester by Lambda Labs, a company that offers on-demand cloud computing for the AI sector. <a href="https://www.benzinga.com/news/24/06/39566809/nvidia-partner-lambda-labs-in-talks-to-raise-800m-to-expand-ai-infrastructure-and-meet-soaring-deman">The company became a unicorn earlier after raising $320 million in February and is currently raising another $800 million</a>. The index shows a 448% year-to-date return for Lambda Labs.</li>
</ul>
<ul>
<li>The list is followed by Cerebras, a chipmaker that reached unicorn status in 2018 <a href="https://www.benzinga.com/startups/23/11/35896884/these-big-name-companies-could-ipo-in-2024-are-they-the-next-millionaire-makers">and is in talks for an IPO this year</a>. Cerebras shows a year-to-date return of 183%, according to Forge.</li>
</ul>
<ul>
<li>Elon Musk's Neuralink, which is exploring computer-brain interfaces, is third on the list with a 110% return year to date. The entrepreneur said on Thursday that <a href="https://www.benzinga.com/news/24/07/39728003/elon-musk-says-over-1-000-neuralink-chip-implantations-achievable-in-2026">the company could achieve 1,000 brain chip implants by 2026</a>.</li>
</ul>
IPOs Excitement Is On The Rise: There have been 95 IPOs since the start of 2024, putting it on track to surpass the 154 IPOs in 2023 and the 181 in 2022.
The rate of IPOs is still far behind the most recent peak, which exceeded 1,000 IPOs in 2021.
Companies like Stripe, <a href="https://www.benzinga.com/startups/23/10/35065151/databricks-valuation-skyrockets-to-43-billion-techs-new-powerhouse-backed-by-nvidia-and-capital-one">Databricks</a>, Fanatics, Chime, Klarna, and Liquid Death remain in investors&#8217; sights for upcoming debuts.
The prospect on IPOs will likely be affected by Fed decisions on interest rates.&nbsp;
With <a href="https://pro.benzinga.com/dashboard">June's 3% inflation rate showing a substantial improvement from May's 3.3%</a>, investors from both the private and public markets <a href="https://www.benzinga.com//node/39751236">are gaining confidence in a potential drop in interest rates in July</a>.
One pundit, however, said Thursday that June's data <a href="https://www.benzinga.com//node/39734143">is still not enough to convince Fed Chair Jerome Powell</a> to drop interest rates at the next FOMC meeting.
How To Measure The Private Market's Performance: Private market transactions involve the purchase and sale of shares from companies that are not publicly traded. As such, the private market is harder to track than the stock market, as information on trades is not publicly available.
Some firms that track private market data can shed light on the trends influencing buy-and-sell decisions for companies outside the stock market. These insights are based on indexes created with specific criteria to track the overall market's performance.
Forge's Private Market Index measures the performance of U.S.-based, venture backed, late-stage companies relative to other asset classes.
According to the firm, "companies are selected for index inclusion based on a proprietary scoring model which incorporates key pricing and liquidity information such as closed trade prices, volume, and bid/ask pricing indications."
Now Read:
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<li><a href="https://www.benzinga.com//node/39751519"> JPMorgan, Citigroup, Wells Fargo Boast Better-Than-Expected Q2 Results</a></li>
</ul>
Image: DALL-E Image

General

Private Market Activity Picks Up In 2024, But Growth Lags Behind S&P 500, Nasdaq Composite

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The Dow led the market with a 1.6% weekly gain, while a sharp sell-off in tech stocks limited the Nasdaq&#8217;s increase to 0.2%, and the S&amp;P 500 rose by 0.9%. 
Encouraging inflation data showed the rate dropping to 3% in June, the lowest since March 2021, and a monthly contraction of 0.1% for the first time since May 2020. This fueled speculation about interest rate cuts, with market-implied odds of a September cut rising to over 90%. 
On Thursday, the Russell 2000 surged by 3.63% while the Russell 1000 large-cap index fell by 0.66%, marking only the fifth time in history the performance difference exceeded 4%, happening near an <a href="https://www.benzinga.com/markets/equities/24/07/39757506/inflation-drop-fuels-rate-cut-speculation-investors-shift-to-sector-laggards-russell-2000-surges">all-time high for the S&amp;P 500.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/trading-ideas/technicals/24/07/39673346/stock-of-the-day-why-palantir-may-be-about-to-move-higher">&#8220;Stock Of The Day: Why Palantir May Be About To Move Higher,&#8221;</a> by <a href="https://www.benzinga.com/author/mark-putrino">Mark Putrino</a>, explains that Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) might experience a stock price increase due to a potential breakout above resistance levels, indicating bullish implications and highlighting significant supply and demand dynamics in the market.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39672822/nvidia-could-earn-5-per-share-in-2025-analyst-says-supply-checks-materially-larger-">&#8220;Nvidia Could Earn $5 Per Share in 2025, Analyst Says: Supply Checks &#8216;Materially Larger Than Just Two Months Ago'&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a> notes that UBS analyst Timothy Arcuri raised Nvidia Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) price target to $150, citing strong supply checks and high demand for Blackwell products, and projecting the company could earn $5 per share by 2025.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39750803/dogecoin-killer-shiba-inu-developers-outline-future-plans-in-first-ever-interview">&#8220;&#8216;Dogecoin Killer&#8217; Shiba Inu Developers Outline Future Plans In First-Ever Interview&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>,reveals that Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) developers Shytoshi Kusama and Kaal Dhairya plan to transform SHIB into a trillion-dollar decentralized entity and hand over control to the community by the end of 2024.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39665665/apple-microsoft-meta-google-stocks-hit-52-week-highs-which-is-the-best-investment">Apple, Microsoft, Meta, Google Stocks Hit 52-Week Highs: Which Is The Best Investment?</a>
<a href="https://www.benzinga.com/top-stories/24/07/39740320/ford-rolls-out-0-financing-on-f-150-lightning-mach-e-potential-ev-sales-surge-ahead">Ford Rolls Out 0% Financing On F-150 Lightning, Mach-E: Potential EV Sales Surge Ahead?</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39751519/jpmorgan-citigroup-wells-fargo-boast-better-than-expected-q2-results">JPMorgan, Citigroup, Wells Fargo Report Better-Than-Expected Q2 Earnings: Dimon Says Inflation, Interest Rates &#8216;May Stay Higher Than The Market Expects&#8217;</a>
The Bears
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39745356/two-months-after-mark-zuckerberg-threw-shade-at-vision-pro-analyst-says-apples-vr-g">&#8220;Two Months After Mark Zuckerberg Threw Shade At Vision Pro, Analyst Says Apple&#8217;s VR Glasses Will Fall Short Of 500K Units In 2024, Half Of Tim Cook&#8217;s Initial 1M Target,&#8221;</a> by <a href="https://www.benzinga.com/author/rounak-jain">Rounak Jain</a>, reports that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8216;s Vision Pro is projected to sell less than 500,000 units in 2024, falling short of the initial 1 million units target, in line with Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg&#8216;s skepticism about the product&#8217;s mainstream success.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39742567/microstrategy-stock-split-slammed-by-bitcoin-critic-peter-schiff-this-really-smacks-of-des">&#8220;MicroStrategy Stock Split Slammed By Bitcoin-Critic Peter Schiff: &#8216;This Really Smacks Of Desperation'&#8221;</a> by <a>Aniket Verma</a> details Peter Schiff&#8216;s criticism of MicroStrategy Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) announcement of a 10-for-1 stock split amid &#8220;a bear market,&#8221; suggesting it indicates desperation, while the company aims to make shares more accessible and expand its shareholder base.
<a href="https://www.benzinga.com/markets/equities/24/07/39708329/as-tesla-surges-44-in-10-sessions-bearish-analyst-smells-stock-manipulation-they-keep-buying-put">&#8220;As Tesla Surges 44% In 10 Sessions, Bearish Analyst Smells Stock Manipulation: &#8216;They Keep Buying Puts To Cause Inorganic Buying,'&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, covers Tesla&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rapid 44% stock surge in 10 sessions, with bear Gordon Johnson alleging stock manipulation via put buying, while bull Gary Black argues for a stock buyback to support share prices amid the rally.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/equities/24/07/39748555/stock-market-bubble-burst-if-trump-wins-2024-election-says-top-economist-policies-would-jeopardi">Stock Market Bubble May Burst If Trump Wins 2024 Election, Says Top Economist: &#8216;Policies Would Jeopardize&#8230;Victory Against Inflation&#8217;</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39676340/market-correction-highly-likely-before-2024-election-says-morgan-stanley-cio">Market Correction &#8216;Highly Likely&#8217; Before 2024 Election, Says Morgan Stanley CIO</a>
<a href="https://www.benzinga.com/government/24/07/39676564/boeing-is-everything-wrong-with-american-capitalism-ex-labor-secretary-robert-reich-responds-to-plea">&#8216;Boeing Is Everything Wrong With American Capitalism&#8217;: Ex-Labor Secretary Robert Reich Responds To Plea Deal</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
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.

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Benzinga Bulls And Bears: Apple, Nvidia, Palantir, MicroStrategy And Shiba Inu's Ambitious Trillion-Dollar Vision

Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) aims to ship at least 90 million iPhone 16 devices in the latter half of this year, counting on AI services <a target="_blank" href="https://www.benzinga.com/government/24/03/37941515/apples-iphone-sales-faces-sharp-decline-in-china-amid-rising-competition" rel="noreferrer noopener">to fuel demand</a> for its new lineup after a rocky 2023. The stock gained on Wednesday after the report.
According To <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-10/apple-bets-on-ai-to-drive-demand-for-iphone-16-targets-10-growth-in-shipments?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">a Bloomberg report</a>, Apple told suppliers and partners that it&#8217;s targeting about 10% growth in shipments of new iPhones compared with their predecessors after shipping about 81 million iPhone 15s in the second half of 2023.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/07/39670093/whats-going-on-with-google-parent-alphabet-monday" rel="noreferrer noopener">Google Faces Market Pressure as Microsoft Promotes iPhones in China</a>.
Apple has grown confident that adding some <a target="_blank" href="https://www.benzinga.com/markets/asia/24/06/39434301/apples-ai-strategy-faces-hurdles-in-china-talks-with-local-firms-are-ongoing" rel="noreferrer noopener">Apple Intelligence features</a> to the iPhone 16 will help boost demand when the model goes on sale late this year, a familiar source told Bloomberg.
Apple anticipates a more robust 2024, even as it competes with other AI-enhanced smartphones from rivals like Samsung Electronics Co and Xiaomi Corp.
The iPhone had a slow start to 2024 in China, but demand for Apple&#8217;s iconic handsets began to rebound strongly since April, partly because of a <a target="_blank" href="https://www.benzinga.com/government/24/05/38708040/apple-reverses-sales-decline-in-china-with-impressive-march-shipment-growth" rel="noreferrer noopener">flurry of discounts</a>.
In the second quarter of fiscal year 2024, iPhone sales generated over 50% of Apple&#8217;s overall revenue, making it the company&#8217;s top-selling <a target="_blank" href="https://www.statista.com/statistics/382260/segments-share-revenue-of-apple/#:~:text=Apple's%20iPhone%20sales%20accounted%20for,contribution%20to%20Apple's%20net%20sales." rel="noreferrer noopener">product</a>.
Apple analysts expect vital iPhone upgrades and service <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39696001/apples-app-store-revenue-surge-and-iphone-upgrades-set-to-drive-growth-in-2025-bofa" rel="noreferrer noopener">growth in 2025</a>.
Apple stock gained 23% in the last 12 months. Investors can gain exposure to the stock through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
AAPL Price Action: At the last check on Wednesday, Apple shares were trading higher by 1.45% at $231.99.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/government/24/06/39164337/apples-streaming-ambitions-in-china-continue-despite-geopolitical-tensions" target="_blank" rel="noreferrer noopener">Apple&#8217;s Streaming Ambitions In China Continue Despite Geopolitical Tensions</a></li>
</ul>
Photo Courtesy Apple

AI-Enhanced iPhone 16 May Help Apple Sell More Devices, Rebound In China

Editor&#8217;s note: The headline and third paragraph of this story has been updated to more accurately depict the nature of Nvidia&#8217;s sales of AI chips in China to comply with US export controls. 
Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is on track to sell $12 billion of artificial intelligence chips in China this year despite the U.S. export controls, the Financial Times <a href="https://www.ft.com/content/b76ef55b-21cd-498b-ac16-5660908bb8d2" target="_blank" rel="noreferrer noopener">reports</a>.
According to analyst forecasts, the company will deliver more than 1 million new H20 chips, designed to comply with U.S. restrictions on selling AI processors to Chinese customers.
That figure is nearly double what Huawei is expected to sell for its China-made rival product, Ascend 910B, the FT cites SemiAnalysis, chip consultancy estimates.
Each H20 chip costs between $12,000 and $13,000, suggesting Nvidia could generate over $12 billion in sales, surpassing the $10.3 billion revenue from its entire China business in the previous financial year.
Colette Kress, Nvidia&#8217;s finance chief, noted a significant decline in revenue from its data center segment in China following the imposition of new export controls in October.
Before U.S. export controls, China accounted for more than a quarter of Nvidia&#8217;s total revenues. Even if the H20 chip meets analysts&#8217; expectations, China may account for about 10% of sales this year.
Analysts at Morgan Stanley and SemiAnalysis report that the H20 chip is now shipping in volume and is popular among Chinese customers despite its lower performance than Nvidia&#8217;s US-sold chips.
Most Chinese AI companies have built their AI models on Nvidia&#8217;s ecosystem, making a switch to Huawei&#8217;s infrastructure time-consuming and costly.
Despite the restrictions, Nvidia&#8217;s overall revenues from China, including Hong Kong, grew more than 50% year-on-year to $2.5 billion in the most recent quarter.
Recent reports indicated that Nvidia is under scrutiny because of reports of its <a target="_blank" href="https://www.benzinga.com/government/24/07/39616102/despite-restrictions-nvidia-chips-are-still-reaching-china-wsj" rel="noreferrer noopener">advanced AI chips</a> being smuggled into China.
Around 12,500 AI chips are estimated to be smuggled annually, while Nvidia sold over 2.6 million A100 and H100 chips globally last year.
Nvidia stock gained over 203% in the last 12 months. Investors can gain exposure to Nvidia through SPDR S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and iShares Core S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>).
Price Action: NVDA shares were trading lower by 0.76% at $127.40 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons

Emerging Markets

Nvidia Could Generate $12B In China With New AI Chips That Comply With US Restrictions: Report (CORRECTED)

Investors should be ready for a "choppy" third quarter as uncertainty over corporate earnings, Fed policy and the U.S. election <a href="https://www.benzinga.com//node/39656549">create the perfect storm for a market correction</a>.
In a Monday interview, Morgan Stanley's Chief Investment Officer Mike Wilson said the market should brace itself for a 10% to 15% correction between now and November.
This means that the S&amp;P 500 could be close to its 2024 ceiling. <a href="https://www.benzinga.com//node/39659420">The index hit its historical ceiling on Friday</a> after a positive jobs report lit up investor enthusiasm.
<h3 class="wp-block-heading">What Needs To Happen For Small-Cap Businesses To Thrive?</h3>
Companies with bad earnings reports "are going to get punished," Wilson <a href="https://www.youtube.com/watch?v=7RPZ8zWYA-Q">told </a>Bloomberg Television.
These include most of the S&amp;P 500 companies that are not in the top 50.&nbsp;
This is what's been happening this year for most companies, outside of the small group of large-caps that actually have positive earnings. Currently, <a href="http://reasons">only 17% of S&amp;P 500 companies actually beat the index in the past month</a>.
The S&amp;P 500 is closely monitored through ETFs such as the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>),&nbsp;Vanguard S&amp;P 500 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>), and&nbsp;iShares Core S&amp;P 500 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVV#NYSE">IVV</a>), providing various avenues for investment in its comprehensive performance.
"The average company does not have good earnings results," Wilson said.
Although the market has seen an expansion in corporate earnings this year, this growth is coming from "30 or 40 companies."&nbsp;
Fertile conditions for growth for smaller companies tend to come when the country is coming out of a recession. This is because when a new cycle starts, low interest rates open up access to capital and companies gain operating leverage.
This, unfortunately, is not where we are today.
For smaller businesses to thrive in the current landscape, the Fed would need to cut interest rates "meaningfully" for the cost of capital to come down.&nbsp;
Read Also: <a href="https://www.benzinga.com//node/39652831">Wharton&#8217;s Jeremy Siegel Implores Jerome Powell To Signal September Rate Cuts: &#8216;We Are In A Slowing Economy&#8217;</a>
The labor market would need to loosen, meaning that the unemployment rate should go up for businesses to be able to hire workers at "more reasonable" prices within their balance sheets, Wilson said.
This would lead to a scenario where small-cap companies can recover pricing power and are able to improve their earnings.
Yet for the Fed, this is a challenge. The agency needs to bring down interest rates at a rate that helps tackle inflation, but also give enough time for companies to recover since, according to Wilson, lower inflation is also hurting smaller companies if they don't have access to capital.
"One thing that gets overlooked is that companies are losing pricing power now. So while we're all rooting for lower inflation, weaker inflation is not great for earnings," Wilson said.
<h3 class="wp-block-heading">Where Is The 10% Correction Coming From?</h3>
Wilson says that investors currently have a lot more exposure to high-multiple stocks than they are aware.
High-multiple stocks are those whose market value is many multiples above their price to earnings ratio, meaning that they're overvalued.
&#8220;If you have an event that's unpredictable, then you can have a real reset on valuations of 10% or 15%. I think the chance of a 10% correction is highly likely sometime between now and the election.&#8221;
This is because the market is still waiting to find out <a href="https://www.benzinga.com//node/39669343">whether Joe Biden or Donald Trump will head the government next year</a>, which will have a serious impact on tariffs for imported goods, as well as immigration policy and other key policy issues.
But uncertainty will likely prevail for reasons other than the election itself, says Wilson.&nbsp;
Expectation on a Fed decision to cut rates, which are independent of who wins the election, as well as uncertainty over company earnings leads to a third quarter where the market can take a hit. This could be true if the uncertainty moves investors to cash in on higher valuations before the prices of stocks go down.
The upside, says the pundit, is that lower stock prices will bring in opportunities to buy, making for more "exciting" valuations.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39674671/bank-earnings-preview-analyst-reveals-3-favorites-but-downgrades-jpmorgan-and-2-oth">Bank Earnings Preview: Analyst Reveals 3 Favorites, But Downgrades JPMorgan And 2 Others</a></li>
</ul>
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