2023 Darling Nvidia’s Star Continues To Rise – She’s Got The Stocks – 11 January 2024

2023 Darling Nvidia’s Star Continues To Rise – She’s Got The Stocks – 11 January 2024

Welcome back to She’s Got The Stocks — we’ve updated the format for this year and we hope you’ll love it.

2023 was a standout year for technology firms with their stocks significantly outperforming the rest of the market. In fact, despite macroeconomic challenges pouring cold water on the rest of the world, the tech-heavy Nasdaq Composite lifted by nearly 50 per cent over the course of the year.

Whilst 2024 got off to a rocky start, things are already starting to look brighter as investors express optimism ahead of the upcoming inflation data and hope that signs of cooling could prompt the Fed to change its policy direction.

It has been predicted that the Fed will introduce multiple cuts this year as interest rates remain steady though some investors are concerned that the market has priced in too many cuts.

THE WOMEN LEADING TECH INDEX

The index covers the changes in share price since our last update on the 14th of December 2023 and we’ve picked out some star performers and noteworthy stories.

Nvidia

The market’s darling last year, Nvidia has continued to soar in 2024 with its stocks up 13 per cent since mid-December.

With its market value now standing at around $US1.3 trillion, it is $US250 billion short of Amazon.

The fact Nvidia stocks continue to jump is a testament to just how in demand investors expect their AI chips to be in 2024.

Amazon

Amazon made headlines this week after it cut hundreds of jobs across both Twitch and its streaming business.

Mike Hopkins, who oversees the units, sent members an email on Wednesday morning confirming the job cuts. The memo was viewed by CNBC.

Hopkins said the company moved to make cuts to “prioritise our investments for the long-term success of our business.”

This follows the 27,000 job cuts that the business announced through 2023.

Airtasker

Sydney-based marketplace Airtasker continued to thrive with its share price lifting by 27.78 per cent since mid-December.

Airtasker saw rapid growth last year as more Aussies started to look for an extra income alongside their full-time jobs.

One user recently made headlines after paying someone $300 to stand in a pastry queue for them — showing that there really is no such thing as a free lunch.

Meta

Meta is tightening its content restriction for young people as it faces increasing scrutiny that its platforms are harmful to children and teenagers.

In a blog post, Meta said it will now “restrict teens from seeing certain types of content across Facebook and Instagram even if it’s from friends or people they follow.”

This would include content that focuses on self-harm, nudity, or restricted goods.

Apple

This week Apple released the first ad for its Vision Pro device which, despite its looks, is neither an augmented reality (AR) headset nor a virtual reality (VR) headset. Instead, Apple bills it as a “spatial computer”.

“The era of spatial computing has arrived,” said Tim Cook, Apple’s CEO. “Apple Vision Pro is the most advanced consumer electronics device ever created. Its revolutionary and magical user interface will redefine how we connect, create, and explore.”

OpenCloseChange
Macquarie Telecom Limited (ASX: MAQ)$65.00$69.316.63%
REA Group (ASX: REA)$165.03$180.479.36%
Atlassian (NAS: TEAM) (USD)$215.14$244.2113.51%
Xero (ASX: XRO)$108.50$109.801.20%
Carsales.com (ASX: CAR)$29.06$31.167.23%
NEXTDC (ASX: NXT)$13.14$13.794.95%
WiseTech Global (ASX: WTC)$72.61$72.47-0.19%
Appen (ASX: APX)$0.60$0.51-15.00%
Airtasker (ASX: ART)$0.18$0.2327.78%
Telstra (ASX: TLS)$3.84$3.911.82%
Adobe (NAS: ADBE) (USD)$624.26$591.03-5.32%
Salesforce (NYSE: CRM) (USD)$257.32$264.132.65%
Apple (NAS: AAPL) (USD)$197.96$186.19-5.95%
Alphabet (NAS: GOOGL) (USD)$132.57$142.287.32%
Meta (NAS: META) (USD)$334.22$370.4710.85%
Microsoft (NAS: MSFT) (USD)$374.37$382.772.24%
Amazon (NAS: AMZN) (USD)$148.84$153.733.29%
Nvidia (NAS: NVDA) (USD)$480.88$543.5013.02%
Netflix (NAS: NFLX) (USD)$479.98$478.33-0.34%

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