Markets Monday for 2024-06-24
Markets Monday for 2024-06-24
Analyzing the past and future of the tech market in Markets Monday.
Last week
Looking at the week behind for the tech market.
I typically ask Siri how NASDAQ is doing and wait to hear it if is a big change or not. Siri logic on the definition of what to say if the there is +/- < 1% seems to be varied by day of attempts. More experimentation or going deeper into how Siri makes word choices will be interesting as the new Apple WWDC stories of Siri evolve over the year.
Previously, I mentioned adding a 5 day view contrasted with a 5 year view.
And so, “this seems to be going up for now”, is still true on a long enough timeline.
This week
Looking at the week ahead for the tech market.
Previously, I decided on a view from Yahoo Finance. For example, this was a view of intraday in Technology which usually gets around a dozen or so interesting companies.
And… the winners list narrowed from a dozen to… five.
If you are using Yahoo Applied Filters for Stocks screener you can bookmark your own heat map view.
% Change in Price (Intraday):greater than 4
Region: United States
Market Cap (Intraday): Mid Cap and Large Cap and Mega Cap
Price (Intraday):greater than or equal 5
Volume:greater than 15000
Sector: Technology
Industry: Software—Infrastructure and Information Technology Services and Computer Hardware and Software—Application and Communication Equipment and Electronics & Computer Distribution and Consumer Electronics and Electronic Components and Scientific & Technical Instruments and Semiconductor Equipment & Materials and Semiconductors
I didn’t have any podcasts or other recorded insights but I did find a few updates on Mastodon and LinkedIn. One link shows the importance of breaking up the few into the many. One link shows, well, not that.
https://flipboard.social/@mike/112667198095180306
Guess what? | Mark Hinkle posted on the topic | LinkedIn
Guess what? The biggest company in the world is no longer Apple or Microsoft. Yesterday Nvidia passed Microsoft with a market cap of over $3.4 trillion dollars. Here’s how Nvidia did it ↓ Most people don’t realize Nvidia started in the 90s. Jensen Huang the CEO can recount multiple times Nvidia almost failed. They had great GPUs, but they were mainly for gaming and graphics. At the time, the company was focused on traditional markets and applications. Here's the history of how Nvidia got to where they are. ↳ NVIDIA was founded in 1993. By 1995, the company was struggling to secure a foothold in the highly competitive graphics card market. ↳ The late 1990s were crucial for NVIDIA as they faced intense competition from companies like 3dfx and ATI Technologies. The launch of the RIVA TNT in 1998 was a pivotal moment. Its success helped NVIDIA stabilize and gain a significant market share. ↳ On January 22, 1999 Nvidia (NASDAQ: NVDA) went public at $12 a share (split adjusted to $0.40). ↳ In 2011 NVIDIA aimed to enter the mobile device market with its Tegra line of mobile processors. The Tegra chips struggled to compete with Qualcomm's Snapdragon and Apple's A-series chips. The chips while innovative, failed to gain significant market share. ↳ The boom in cryptocurrency mining created a massive surge in demand for NVIDIA's GPUs, but the subsequent bust in late 2018 had adverse effects. NVIDIA overestimated the sustained demand from cryptocurrency miners, leading to an oversupply of graphics cards. But with the rise of AI, they gained a life line. Here are a few things Nvidia did that changed the company forever: → Invested heavily in AI research: Nvidia poured resources into developing AI capabilities, positioning themselves as leaders in the field. → They created powerful GPUs that became the backbone of AI and machine learning. → Expanded beyond gaming: They recognized the potential of their technology in data centers, autonomous vehicles, and more. AI became the watershed moment for AI. Today Nvidia will open at $135.40 up from a split-adjusted price of $3.86 five years ago. Or $ .40 on their IPO. However, Nvidia's energy-hungry GPUs are facing roadblocks in data centers. As demand for AI grows, not from a demand for their chips but for customers who have not only data center space but the power for their chips. Today, Nvidia has started to vet their customers for the ability to actually deploy their AI-crunching processors. They also are going to start facing more competition from AMD, Intel, Qualcomm, Apple and a rash of startups trying to sell picks and shovels during the AI goldrush. If you want more off this type of commentary on AI then: ☑️ Like👍 and share♻️ this post ☑️ Follow Mark Hinkle ☑️ Subscribe to my newsletter The Artificially Intelligent Enterprise and get insights for AI and Business in your inbox every Friday. https://lnkd.in/eGKQeMHE | 52 comments on LinkedIn
