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Let’s dive into some of the key highlights from the recent trading sessions and what to watch out for in the coming days.
Marvell Technology:
One stock that stood out during Thursday’s trading was Marvell Technology. With better-than-expected revenue and a strong forecast, the stock was up about 8% after hours. Marvell is the 17th biggest holding in the VanEck Semiconductor ETF (SMH), making up 1.78% of the ETF. Keep an eye on this stock as it continues to show promising performance.
Cooling Nvidia:
Nvidia took a slight dip on Thursday, closing 6.4% lower. However, the company reported doubling revenue from the year-ago period, showing strong growth potential. Stay tuned for CNBC TV’s report on the companies providing cooling technology for Nvidia’s chipmaking, including Vertiv, Schneider Electric, and nVent Electric.
Apple’s iPhone and China:
Tensions in China’s “iPhone City” are causing concerns about potential business relocations. While Apple shares are 3% from the July 15 high, the stock has seen a 20% increase over the past three months. CNBC TV’s China correspondent will provide more insights into this evolving situation.
Investing in OpenAI:
Big tech names like Apple and Nvidia are showing interest in OpenAI, with Microsoft already on the list. Microsoft, which is 12% from the July 5 high, has seen a 10% increase so far in 2024. Keep an eye on these companies as they explore opportunities in the AI space.
San Francisco office space:
Social media platform X is moving out of San Francisco as artificial intelligence companies move in. This shift is impacting office real estate investment trusts like BXP and CBRE, which have seen significant gains in the past three months. Stay tuned for CNBC TV’s report on the changing landscape of office spaces in the city.
Ubisoft:
French software maker Ubisoft is set to release the “Star Wars Outlaws” video game on Friday. While the stock is down 26% so far this year, keep an eye on upcoming developments in the gaming industry.
The Dow Jones Industrial Average:
The Dow reached another record high on Thursday, with top performers like Nike, McDonald’s, Walmart, Coca-Cola, 3M, Travelers, JPMorgan, and other non-tech companies leading the way. Stay informed on the latest trends in the market to make informed investment decisions.
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