Nvidia ( NVDA ) continues to dominate the AI hardware market, a position fortified by its "full stack" approach in both hardware and software. According to Ben Reitzes, Managing Director and Head of Technology Research at Melius Research, Nvidia's comprehensive ecosystem enables it to monetize AI effectively. This strategic advantage is poised to yield substantial rewards for shareholders. Reitzes predicts a 30% gain for Nvidia's stock, setting  a target price of $160. Despite a recent selloff, Nvidia's shares have skyrocketed by 150% this year after tripling in 2023. Among the tech giants Reitzes covers, Nvidia holds the most promising upside. A Culture of Innovation and Leadership Nvidia's success can be attributed to its relentless innovation cycle. Reitzes notes that the company’s annual introduction of new products allows developers and customers to anticipate and budget for upgrades, maintaining a competitive edge. "They're running 150 miles an ...

Artificial intelligence (AI) is dominating the technology sector right now, and one company that stands to benefit greatly is e-commerce and cloud computing leader Amazon ( AMZN ).  Roughly halfway into 2024, shares of Amazon have soared by 23%, handily topping the 15% year-to-date gain of the S&P 500 and the 19% rise of the Nasdaq Composite. Yet even in the wake of this strong performance, Doug Anmuth of JP Morgan Chase thinks Amazon stock could rocket by another 28% over the next 12 months. Amazon's Cash-Flow Empire: A Common Ground for Buffett and Wood Two of the most closely followed institutional investors are Berkshire Hathaway CEO Warren Buffett and Ark Invest CEO Cathie Wood. Admittedly, Wood and Buffett don't have a lot in common when it comes to their investment styles. Buffett's portfolio is dominated by blue chip businesses with consistent cash flows. By contrast, Wood often takes positions in companies that operate in emerging technologies such as genomics,...

As the second half of 2024 unfolds, technology stocks are once again at the forefront of market momentum, driven by breakthroughs in artificial intelligence (AI), next-generation broadband, and cybersecurity.  Rosenblatt Securities has unveiled its top stock picks for this period, spotlighting companies poised to benefit from these trends. Among the standout names are Advanced Micro Devices ( AMD ), Autodesk ( ADSK ), and Qualcomm ( QCOM ), each offering unique strengths and growth potential in their respective fields. These picks reflect the broader market dynamics that have seen the Nasdaq Composite and Nasdaq 100 indices achieve impressive gains of 19% and 17%, respectively, this year. AMD Poised for Growth in AI-Driven Future Advanced Micro Devices has emerged as a key player in the semiconductor sector, with Rosenblatt Securities rating it a top pick for the second half of 2024. Despite a modest 6.9% increase in stock value this year, AMD is expected to capture a significant s...

Rivian's stock ( RIVN ) experienced a significant surge on Wednesday following the announcement of a new joint venture with Volkswagen.  This collaboration not only promises to enhance Rivian's technological capabilities but also brings in much-needed capital to support its ambitious growth plans. Strategic Partnership to Develop Next-Gen EV Technologies Volkswagen and Rivian have entered into a joint venture to develop "next generation software-defined vehicle (SDV) architectures" for their future electric vehicles (EVs). This partnership will leverage Rivian’s zonal hardware design and electrical architecture expertise, with the automaker licensing its existing intellectual property to the joint venture. Volkswagen will kick off the collaboration with an initial investment of $1 billion in Rivian through an unsecured convertible note, which will convert into Rivian’s common stock. Additionally, Volkswagen has committed up to $4 billion in further investments through...

Shares of Carnival Corporation ( CCL ) surged 8% on Tuesday afternoon following a stellar earnings report that exceeded analysts' expectations. The cruise giant delivered an operating margin and earnings per share (EPS) that outperformed Wall Street estimates, driven by robust demand trends throughout the quarter. This performance has prompted the company to raise its net yield forecast to over 10%, setting the stage for double-digit returns on invested capital. Carnival's Q2 results have shareholders and market observers alike cheering. 👉  Check Out Video --> CCL Price Analysis Strong Demand Lifts Carnival's Financial Performance Carnival's second-quarter report highlights the enduring consumer preference for experiences over material goods. The company reported a 17.7% year-over-year increase in sales, reaching $5.78 billion, and a return to positive EPS at $0.11, following two consecutive quarters of net losses. Booking volumes have continued to expand, with 2025...

Tesla Inc. ( TSLA ) has issued a recall for 11,383 of its highly anticipated Cybertrucks, manufactured between November 13, 2023, and May 26, 2024, due to an issue with the "sail applique" on the truck bed.  This recall was announced by the National Highway Traffic Safety Administration (NHTSA) and marks another hurdle for Tesla's futuristic vehicle. The defect involves the sail applique, a plastic trim piece attached with clips and adhesives, which may not have been installed correctly. This could cause the applique to loosen or detach, posing a safety risk. Tesla plans to remedy the issue by applying an adhesion promoter and pressure-sensitive tape or replacing the applique as necessary. Tesla's Recall History: Software Fixes vs. Physical Repairs Recalls are not uncommon for Tesla, but the nature of this recall is distinct. Unlike many of Tesla's previous recalls, which often involve software updates that can be deployed over-the-air, the Cybertruck recall requi...

Duolingo ( DUOL ), the app-based language education platform, is rapidly transforming the way people learn languages by integrating artificial intelligence (AI) into its offerings. As of the first quarter of 2024, Duolingo had 97.6 million monthly active users, marking a 35% increase from the previous year. More impressively, its paying subscriber base grew by 54%, reaching 7.4 million. This robust growth is largely driven by Duolingo’s innovative use of AI, which has been a cornerstone of its strategy since 2013. Duolingo’s new Max subscription, launched last year, is a testament to the company’s commitment to leveraging AI for an enhanced learning experience. This subscription includes AI-powered features like "Explain My Answer," which provides personalized feedback based on user mistakes, and "Roleplay," a chatbot for practicing conversational skills in various languages. These features utilize both Duolingo’s proprietary models and OpenAI’s cutting-edge GPT-4 m...

Nike's ( NKE ) strategic efforts to refocus on production innovation and brand building are set to foster a gradual rebound in its near-term financials, according to Oppenheimer.  The athletic footwear and apparel maker has faced significant challenges in recent quarters due to a combination of unfavorable external and internal factors, which have impacted sales growth and profit expansion. However, Oppenheimer believes that the multiples at which Nike's shares trade and its near-term financial expectations are "largely de-risked" due to ongoing turnaround initiatives. Oppenheimer upgraded Nike's stock from Perform to Outperform and increased its price target from $110 to $120. This upgrade reinstates Nike as a top mega-cap pick, highlighting the brokerage's growing confidence in the company's recovery. Strategic Spending and Innovation Nike's recent struggles are well-documented, with a slowdown in consumer spending, especially in China, impacting the...

Meta Platforms' ( META ) substantial push into artificial intelligence is beginning to mitigate investor concerns over its hefty expenditures.  KeyBanc recently increased its target price for Meta shares from $475 to $540, attributing this adjustment to a notable rise in ad prices. Analysts highlight Meta's adept use of AI to enhance ad engagement and relevance, leading to improved returns on investment for advertisers. KeyBanc analysts suggest that if these trends continue, they could alleviate worries about Meta's significant AI spending and reinforce confidence in the company's financial strategy. Jeff Marks, Investing Club Director of Portfolio Analysis, emphasized this during a recent members' meeting, stating, “If Meta’s investments in AI can demonstrably drive engagement and higher returns for advertisers, it will affirm the soundness of their spending.” Record Highs and Strategic Spending Meta shares soared to a record high of $527 in early April, buoyed by ...

Bitcoin has been under pressure as it experiences continued outflows from spot exchange-traded funds (ETFs). The largest cryptocurrency was down 0.1% over the past 24 hours to $65,474, reflecting a trend that has been ongoing since it hit a record high near $74,000 in mid-March. This downward momentum is surprising given the recent renewal of all-time highs by the Nasdaq and S&P 500 indices. "The latest momentum shows that the bears in crypto are in control," noted Alex Kuptsikevich, senior market analyst at FxPro. Spot Bitcoin ETFs have recorded outflows of nearly $300 million this week, as reported by crypto data firm Coinglass. The high bond yields and market's recalibration of interest-rate cut expectations from the Federal Reserve have contributed to the lackluster performance of cryptocurrencies. Whales and Miners: Major Sellers of Bitcoin Long-term Bitcoin holders and miners have been significant sellers in recent weeks. According to on-chain analysis firm Cryp...

As the artificial intelligence (AI) revolution continues to unfold, Micron Technology ( MU ) is positioning itself at the forefront of this transformative wave. In a strategic shift, Micron is focusing on edge AI, where AI computation occurs near the user at the network's edge, rather than centrally. This approach promises faster performance, personalization, and enhanced privacy. Nvidia, a leader in AI chipmaking, highlighted the significance of edge AI in a recent blog post. According to Nvidia, advances in edge AI allow machines and devices to operate with intelligence akin to human cognition. Micron is capitalizing on this trend, especially through its collaboration with Nvidia on high-bandwidth memory (HBM) for the H200 semiconductors, enhancing data flow efficiency with lower power consumption. Micron's Financial Turnaround and Analyst Optimism Micron Technology, headquartered in Boise, Idaho, and founded in 1978, is set to report its fiscal third-quarter results on June ...