NVIDIA Overtakes Amazon’s Market Cap For First Time In 2 Decades – She’s Got The Stock’s 15 February

NVIDIA Overtakes Amazon’s Market Cap For First Time In 2 Decades – She’s Got The Stock’s 15 February

Investors are going “all in” on US tech stocks as their optimism about global growth climbs higher than it has been in two years.

A survey by Bank Of America has shown that allocation in tech stocks is at its highest since 2020 as investors exercise their optimism.

This has driven the tech-heavy Nasdaq composite up by nearly eight per cent in 2024 — and we are just two months into the year!

Despite the optimism, hotter-than-expected inflation data released this week got rid of any hopes that the FED will be cutting interest rates anytime soon.

The ramification of this data was felt here in Australia with the ASX falling one per cent in reaction to the news.

NVIDIA

Nvidia is cementing its position as the golden child of the stock market this month. The chip maker’s stock continued to break new records last week as it frog-leaped over Amazon to become the world’s fourth most well-capped company. As well as benefiting from the boom in AI, the chipmaker is also set to benefit from a huge increase in spending on data centres, CEO Jensen Huang said.

AMAZON

It was all change at Amazon as CEO Jeff Bezos sold stock for the first time since 2021. Less than a fortnight after announcing his plans to sell as many as 50 million shares in the company, Bezos has already sold nearly half of them for an eye-watering $US4 billion ($AU6.17 billion).

NETFLIX

Netflix appears to be out of its 2022 rough patch with its share price continuing to rise. Slower growth caused shares to plummet in 2022, but it looks like there has been a change in fortunes for the streamer. This is partially powered by its strong Q4 results in which it added 13.1 million new members which pushed revenue up 12.5 per cent last year.

META

Meta stocks continue to hold their games after soaring by more than 20 per cent at the beginning of February.

In its latest quarterly report, the tech giant announced better-than-expected earnings for the fourth quarter and also revealed it would be paying its first-ever dividends.

Macquarie Telecom Limited (ASX: MAQ)$71.20$69.13-2.91%
REA Group (ASX: REA)$183.94$181.34-1.41%
Atlassian (NAS: TEAM) (USD)$249.77$215.89-13.56%
Xero (ASX: XRO)$110.79$117.245.82%
CAR Group  (ASX: CAR)$33.01$34.123.36%
NEXTDC (ASX: NXT)$14.02$14.503.42%
WiseTech Global (ASX: WTC)$72.99$77.866.67%
Appen (ASX: APX)$0.33$0.30-7.69%
Airtasker (ASX: ART)$0.27$0.25-7.41%
Telstra (ASX: TLS)$4.04$3.94-2.48%
Adobe (NAS: ADBE) (USD)$617.78$604.66-2.12%
Salesforce (NYSE: CRM) (USD)$281.09$289.152.87%
Apple (NAS: AAPL) (USD)$184.40$184.15-0.14%
Alphabet (NAS: GOOGL) (USD)$140.10$145.944.17%
Meta (NAS: META) (USD)$397.58$473.2819.04%
Microsoft (NAS: MSFT) (USD)$397.58$409.493.00%
Amazon (NAS: AMZN) (USD)$155.20$170.9810.17%
Nvidia (NAS: NVDA) (USD)$615.27$739.0020.11%
Netflix (NAS: NFLX) (USD)$564.11$579.332.70%

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