adminNvidia Remains 'Best Way to Play AI'
42 minutes ago
Nvidia (NVDA) stock was on track Friday to notch one of its best weeks of the year and recover most of its losses from previous weeks as investors heeded analysts’ recommendations and bought the dip.
Nvidia shares were little changed midday Friday, putting the stock up nearly 16% for the week in its second massive rebound in a volatile month for the chipmaker’s stock.
Shares got a boost earlier this week when CEO Jensen Huang, speaking at a Goldman Sachs conference, called demand for Nvidia’s products “incredible” and touted the size of the company’s market opportunity.
The sheer strength of demand is one major reason that analysts still have Nvidia at the top of their buy lists despite the stock’s loss of momentum lately. Bernstein analysts in a note earlier this week reiterated Nvidia was one of their top semiconductor picks, calling it “the best way to play AI.”
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–Colin Laidley
For Intel Stock, It's Been 'One Disaster After Another'
1 hr 30 min ago
Intel’s (INTC) stock, once a tech darling, has fallen on hard times.
And while recent reports of possible strategic changes and deal activity have hinted at a path to a rebound for the chipmaker's stock—Wall Street is broadly optimistic that it will rise again—analysts admit that's far from certain.
"Intel right now is just a series of one disaster after another," Bernstein analysts wrote in a note Thursday.
Intel shares were up nearly 2% around midday Friday amid a broad market rally. The stock has lost about about a third of its value since Intel reported its latest earnings in early August, and more than 60% since the start of 2024.
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–Kara Greenberg
Adobe Stock Plunges on Light Outlook
2 hr 47 min ago
Adobe (ADBE) shares tumbled 9% Friday morning after the digital multimedia software maker issued a disappointing current-quarter outlook that overshadowed better-than-expected results for its fiscal third quarter.
The stock has broken down below the lower trendline of an ascending triangle pattern, a move that could start a new trend lower.
Investors should watch important support levels on Adobe's chart at $500, $439, $386, and $333, while keeping an eye on the $550 area during a countertrend move.
Read the full technical analysis piece here.
–Timothy Smith
Major Indexes Approaching End-August Levels
4 hr 23 min ago
Major U.S. stock indexes have recovered almost all of the ground lost during the early-September swoon that generated the worst weekly losses in more than a year.
Heading into Friday's session, the Nasdaq Composite and S&P 500, which are riding four-session winnings streaks, are less than 1% below their end-August levels. The Dow Jones Industrial Average, which has finished higher in three of the last four sessions, is 1.1% below where it closed last month.
The S&P 500 and Nasdaq are up 3.5% and 5.3%, respectively, this week, while the Dow has tacked on 1.9%.
Stock Futures Point to Higher Open for Major Indexes
5 hr 23 min ago
Futures tied to the Dow Jones Industrial Average were up 0.1%
S&P 500 futures were up 0.2%.
Nasdaq 100 futures were up less than 0.1%.
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