New Nvidia Price Target After $150 Billion Record Stock Buy
The elite-level AI chip firm announced a move that pushed Apple’s $110 billion buy into second place.
Iran Breakthrough?
The markets appeared to make a U-turn for the better on Thursday on potential progress with Tehran. Also, where’s the beef with the China summit?
Nvidia Warning? Maybe.
Check this out.
Most readers probably already know that I have been very positive on both Advanced Micro Devices ($AMD) and Intel ($INTC). AMD literally for years and INTC for this year at least. Most readers likely also know that I remain long Nvidia ($NVDA), but don’t write on it very often. Looking at The Sarge-folio, AMD is a top-five name in terms of weighting, INTC is a top-10 name and NVDA is a top-15 name. That’s the way that I have had them weighted for some time now.
Nvidia
NVDA continues to trade within my Pitchfork model. This morning, the stock found support at its 21-day EMA as, I think, swing traders came to the rescue. Still, this is a dangerous spot as swing trades are notoriously fickle and if that line fails, how far away can a test of the 50-day SMA be? I still have a $290 target on NVDA, but I am starting to lose confidence in this one.
AMD
It looks to me like AMD may be starting to consolidate, which is healthy. The recent move was nearly parabolic in nature and needs to be digested. I am very comfortable with my current $790 price target.
Intel
INTC also seems to be setting up for some consolidation, which would be welcome. Here, too, the chart is very positive. My $178 target may be a little aggressive, but this stock still may be underrated. Lip-Bu-Tan is the best CEO this company has had in many, many years.
Position: Long AMD, INTC and NVDA equity.
Nvidia Is the Cheapest It’s Been in a Decade. But Is It Cheap for a Reason?
Elite fundamentals, a decade-low multiple, solid technicals, and analyst enthusiasm all point the same way. So why don’t I own more?
Financials Flounder
Big banks like Wells Fargo, Bank of America, and JPMorgan Chase slid on Tuesday as did financial services ETFs. Let’s see what’s going on.
As Semis Soar, I’m Upping Price Targets for AMD, Intel
INTC and AMD ran up big Monday on the sudden popularity of Meta’s Muse AI agent. Let’s chart where these two stocks could be headed.
Tech Leads S&P and Nasdaq to Best Days Since Early August
Tech’s continued rebound along with falling oil prices and Treasury yields drove a powerful rally to start the week.
Tech Leads Equity Markets Higher
Continued gains in AI beneficiaries lead a broader rally Monday morning.
Weekly Roundup: September Is Living Up to Its Reputation
During the week of challenging developments, we refreshed out shopping list, exited one holding and added to four others.
The Sun Rises on Wall Street
We didn’t expect the kind of market strength we saw on Thursday as yields and oil fell. The big question now: Can it keep up?