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Nvidia remains at the forefront of AI innovation, with new opportunities to gain market share, Morgan Stanley said. Analyst Joseph Moore reiterated his overweight rating on the chipmaker and said meetings with Nvidia's CEO and other management reinforced the firm's view that it is the top pick in semiconductors. NVDA YTD mountain Nvidia stock this year. To be sure, even as Morgan Stanley doubles down on its Nvidia bull case, the company's near-term growth story has some skeptics. Shares closed down slightly on Wednesday at $132.65, just short of the stock's closing high of $135.58 met in June.
Persons: Morgan Stanley, Joseph Moore, Moore, Nvidia's Blackwell, " Moore, Blackwell, Atif Malik, he's, Katie Stockton Organizations: Nvidia, NVIDIA, Management, Citi
Nvidia stock climbed 4% on Tuesday, extending its rally to 14% in five days. The chipmaker's market value soared by $400 billion — more than Costco is worth. Its $400 billion increase in value within a week is worth underscoring. Costco, which generated $254 billion of revenue and $7.4 billion of net income last year, is worth less than that. There's been no greater beneficiary than founder and CEO Jensen Huang, whose net worth has ballooned from about $14 billion to $106 billion in under two years.
Persons: Jensen Huang, Blackwell, , There's, Amancio Ortega, Michael Dell, Huang, Elon Musk, Mark Zuckerberg, OpenAI's Sam Altman, Oracle's Larry Ellison, Microsoft's Satya Nadella, Andy Jassy, Alphabet's Sundar Pichai Organizations: Costco, Nvidia, Service, Microsoft, Apple, Bloomberg, Big Tech
Nonfarm payrolls added 254,000 jobs in September, while the unemployment rate fell to 4.1%, down 0.1 percentage points. "It was a very good report across every indicator in there," said Aaron Sojourner, a senior researcher at the W.E. As they barnstorm across battleground states, Harris and Trump paint dueling pictures of the U.S. labor market. Jim Watson | AFP | Getty ImagesThe jobs report adds to a flurry of good economic news in recent weeks, with metrics that could potentially amount to the best economic upswing in decades. Following the jobs report blowout, the Dow Jones Industrial Average closed out last week at a fresh all-time high of 42,352.75.
Persons: Kamala Harris, Donald Trump, payrolls, Dow, Aaron Sojourner, Harris, Trump, Jim Watson, I've, Mark Zandi, Biden, Clinton, Justin Wolfers, stoking Organizations: . Upjohn Institute, Employment Research, Trump, CBS, Republican, Ryder Center for Health, Physical Education, Saginaw Valley State University, AFP, Getty, Federal Reserve, University of Michigan, Dow Jones, Nasdaq, chipmaker Micron Technology, Oracle Locations: U.S, Michigan, America, Saginaw, Saginaw , Michigan
TSMC has high power usage, and Taiwan's tight electricity supply will test its chip production. TSMC aims for net zero emissions by 2050, but renewable energy growth faces hurdles. The surge in energy consumption last year is likely due to the increase in 3nm semiconductor production, the analysts said. In 2021, TSMC announced a commitment to reach net zero emissions by 2050 through a combination of renewable energy certificates and power purchase agreements. Adding renewable energy supplies would help alleviate this problem, although the island's geography makes it difficult to increase solar and wind power sources.
Persons: TSMC, Organizations: Service, P, Micron, Intel Locations: TSMC, Phoenix
Stocks in the infrastructure sector aren't always top of mind. But investors who want to diversify their portfolios away from those popular names and themes can consider the infrastructure theme, says Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management. Stock pick Slimmon is bullish on equipment rental company United Rentals . URI YTD mountain YTD shares of United Rentals Shares in United Rentals trade on the New York Stock Exchange, and are up over 40% year to date, and over 80% over the last 12 months. KeyBanc Capital Markets' analysts identified United Rentals as "interesting acquirers," citing its "strong history of driving solid returns through large deals each year."
Persons: Andrew Slimmon, Slimmon, Hurricane Helene, It's, Florida's Organizations: Nvidia, Novo Nordisk, Morgan Stanley Investment Management, United Rentals, New York Stock Exchange, KeyBanc, Markets Locations: U.S, Hurricane, North Carolina , Georgia, Texas, Massachusetts, Bend, Connecticut, North America, Europe, Australia, New Zealand
NXP Semiconductor — Shares added 0.8% after UBS upgraded the chipmaker to buy from neutral. Amazon — Shares slumped nearly 2% after Wells Fargo downgraded the e-commerce company to equal weight from overweight, citing slowing growth and competition from Walmart. Pfizer — Activist investor Starboard Value took a roughly $1 billion stake , seeking a turnaround at the struggling company, sources told CNBC. American Express — The financial services stock fell more than 1% after JPMorgan downgraded shares to neutral from overweight. Ally Financial — The financial services stock added 1.4% on the back of a JPMorgan upgrade to overweight from neutral.
Persons: Jefferies, Wells, Coty, Ashley Helgans, Bernstein, headwinds, Ally, Yun Li, Samantha Subin, Alex Harring, Pia Singh, Michelle Fox Organizations: , Semiconductor, UBS, Walmart, Pfizer —, CNBC, Jefferies, Hershey, American Express, JPMorgan, Wynn Resorts, United Locations: Wells Fargo, underperform, GLP, United Arab Emirates
Chinese chip stocks gained $13 billion on Monday, led by a 22% rise in shares of SMIC. The gains come as traders expect Beijing to extend stimulus support to the semiconductor industry. AdvertisementChinese chip stocks soared Monday, fueled by hopes that Beijing's next round of stimulus will boost the country's semiconductor industry. The new round of stimulus could include support for its chip companies. China first announced its stimulus measures last month, pledging to rescue the economy from a struggling property sector and weak domestic demand.
Persons: , Beijing's Organizations: Service, Semiconductor Manufacturing International Corp, CSI Locations: SMIC, Beijing, China, Hong Kong
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer calls September's nonfarm payroll growth a "no landing" number, meaning we don't have to waste energy debating a hard economic landing versus a soft landing. AMD stock is starting to reflect that, he added, but it hasn't had nearly the gains of rival Club stock Nvidia this year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, September's, Jim, Lisa Su, hasn't, Morgan Stanley, Wells, It's, Jim Cramer's Organizations: CNBC, Dow, Nasdaq, Club, AMD, Nvidia, Bank, Fed Locations: U.S, Israel, San Francisco, Wells Fargo
There are several key stocks in the U.S. investors need to be mindful of when navigating the current market environment, according to Bank of America. To capture the momentum from this rally, Bank of America screened for the most important stocks in each region of the world — including the U.S. — that have the potential to have the largest impact on portfolio performance, positive or negative. Bank of America found these stocks to be among the most important in the U.S.: Chipmaker Nvidia and oil and gas giant Exxon Mobil ranked fairly high on the firm's steady compounders list within the screen. Meta's shares are up nearly 64% year to date. Other stocks considered the most important names in the U.S. include rideshare company Uber and pharma name Eli Lilly .
Persons: Nigel Tupper, Vivek Arya's, Metaverse, Justin Post, Eli Lilly Organizations: Bank of America, Investment, U.S, Nvidia, Exxon Mobil, Exxon, Meta, Bank of America's, Uber Locations: U.S, Lebanon, Thursday's
Hedge fund manager Dan Niles is particularly bullish on one tech stock going in to 2025. That stock is Meta Platforms — the tech giant behind social media platforms Facebook and Instagram as well as instant messaging app WhatsApp. META YTD mountain Year-to-date shares in Meta Platforms Meta is among the so-called "Magnificent Seven" stocks that several investors have been looking at favorably this year. Meta's "really the one that's using AI the best internally," Niles noted. 'Premium name' In addition to Meta, Niles is also keeping a watch on chipmaker Nvidia .
Persons: Dan Niles, Niles, CNBC's, Jensen Huang Organizations: Facebook, Niles Investment Management, Meta, Apple, Microsoft, Nvidia, Tesla, U.S
Nvidia's Jensen Huang explained just how tough it was to build the chipmaker into a world-beater. Startup founders don't know what they're signing up for — and that's a good thing, Huang said. AdvertisementStarting Nvidia from scratch and growing it into a $3 trillion company took three decades and stretched Jensen Huang to his absolute limit. The adversaries and all the smart things that they're going to do. The adversities that you're going to be confronted with over time."
Persons: Nvidia's Jensen Huang, Huang, , Jensen Huang, Bloomberg — Organizations: Service, Nvidia, Bloomberg
KAOHSIUNG, Taiwan — A weakened and “weird” Typhoon Krathon slammed into southwestern Taiwan on Thursday, hitting the island with a storm that has killed two people so far and forced it to shut down for a second day with hundreds of flights grounded and financial markets closed. Krathon made landfall as a much weaker category 1 typhoon around midday at the major port city of Kaohsiung. All domestic flights were canceled for a second day, as well as 236 international ones. Typhoons often hit Taiwan’s east coast facing the Pacific, but Krathon is unusual in that it directly hit the west coast. Local media labeled it a “weird” storm for that reason, and because of how it hovered off the coast before reaching land.
Persons: Krathon, Kaohsiung Mayor Chen Chi, Liao Shian, , Thelma Organizations: Kaohsiung Mayor, Southern, Southern Taiwan Science Locations: KAOHSIUNG, Taiwan, Kaohsiung, Taipei, Southern Taiwan, Pingtung
OpenAI has a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion, CNBC has learned. The base credit line is $4 billion, with an option to increase it by an additional $2 billion. Led by Thrive Capital, which planned to invest $1 billion, investors included existing backer Microsoft as well as chipmaker Nvidia. SoftBank, Khosla Ventures, Altimeter Capital, Fidelity Management & Research Company, MGX and Tiger Global also participated, according to sources familiar with the situation. Earlier this year, OpenAI was valued at a reported $80 billion, up from $29 billion in 2023.
Persons: Sam Altman, OpenAI, Goldman Sachs, Morgan Stanley, Mira Murati, Bob McGrew, Barret Zoph, Altman, Bret Taylor, Sam, Taylor Organizations: CNBC, JPMorgan Chase, Citi, UBS, HSBC, Microsoft, Nvidia, SoftBank, Khosla Ventures, Fidelity Management & Research Company, Tiger Global, The New York Times Locations: Santander, Wells Fargo, SMBC
EVgo — Shares soared 55% after the electric vehicle charger company received a $1.05 billion conditional loan from the Department of Energy. Hims & Her Health had previously developed compound versions of the drugs to take advantage of the shortage. Joby Aviation – Shares dropped more than 7%, paring back gains made in the previous session. Palantir recently announced that it's partnering with Edgescale AI to deliver Live Edge, a platform that will utilize artificial intelligence for manufacturing, utilities and other areas. Investors see both Vistra and Constellation as becoming key supporters of data center growth for developing tech companies' artificial intelligence technologies.
Persons: Bill Peterson, Eli Lilly, paring, Joby, Levi Strauss, Levi, Jensen Huang, CNBC's, Blackwell, Henning Cosman, Palantir, Sundar Pichai, Yun Li, Lisa Kailai Han, Hakyung Kim Organizations: Department of Energy, JPMorgan, U.S . Food, Drug Administration, Toyota, Dockers, Wolfspeed, Mizuho, Nvidia, Barclays, Constellation Energy, Nikkei, Investors Locations: U.S, China
KAOHSIUNG, Taiwan — Taiwan shut down on Wednesday, grounding hundreds of flights and closing schools, offices and financial markets ahead of the arrival of a weakening Typhoon Krathon, with one person reported dead and torrential rain lashing the island’s south. Although the typhoon has weakened, the threats from a storm surge, strong winds and rain remain as it slowly makes its way toward Taiwan’s coast, weather forecasters said. The typhoon would lose power once it hit land, said Kaohsiung Mayor Chen Chi-mai, but would still bring intense winds and rain. Once it hits land, the typhoon could be downgraded into a tropical depression and dissipate, which has happened only once before in Taiwan, in 2001, forecasters said. In Taipei, some malls and shops remained open, with rain only expected later in the day.
Persons: Thelma, Chen Chi, , Tommy Wang, Gaemi, Yu Ren, Chou Yi, Power, Chou Organizations: Getty, Central Weather Administration, Apple, Nvidia Locations: KAOHSIUNG, Taiwan, Kaohsiung, Taiwan’s, Hualien, Taipei, Taoyuan, AFP, Tainan, Siaogang
Apple Intelligence : Club stock Apple turned positive Wednesday, despite more analysts trimming their 2024 iPhone 16 estimates. Interestingly, Apple Intelligence is the sixth top reason someone would buy a new iPhone, according to a recent survey by JPMorgan analysts. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, payrolls, Jensen Huang, Levi Strauss, Michelle Gass, Jim Cramer's, Jim Organizations: CNBC, ., U.S, Israel . Semiconductor, Broadcom, Nvidia, Accenture, Financial Times, Amazon, Apple Intelligence, Apple, JPMorgan, Club, Constellation Brands, Modelo, Jim Cramer's Charitable Locations: Iran, Israel, Corona, Pacifico
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Gordon Haskett took the Club stock to buy and raised its price target to $450 per share, implying 10% upside. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Stocks, Oil, Jim, Gordon Haskett, Gordon, Lamb Weston, Jim Cramer's Organizations: CNBC, Energy, Nvidia, Accenture, Microsoft, Club, Nike, Humana Locations: Israel
Recent hiccups for Nvidia could be the start of broader weakness for the artificial intelligence boom, and investors should consider dialing back their exposure to the stock, according to one small equity research shop. But last quarter sequential growth slowed again and now I'm concerned that it can continue to slow in Q3 and Q4. Elazar is not completely alone in being skeptical of Nvidia, but it's definitely a contrarian stance. Of the 64 analysts tracked by LSEG, 58 have buy or strong buy ratings on Nvidia, with the remaining six having hold ratings. Nvidia's stock is up 700% since the start of 2023, so being bullish has been the right call for Wall Street analysts.
Persons: Elazar, Chaim Siegel, Blackwell, it's Organizations: Nvidia, Elazar Advisors, Wall Street Locations: decel
OpenAI CEO Sam Altman speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. OpenAI has closed its long-awaited funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big tech companies. Thrive planned to invest $1 billion in the round, CNBC previously reported. Earlier this year, OpenAI was valued at a reported $80 billion, up from $29 billion in 2023. There are also 11 million ChatGPT Plus subscribers and 1 million paying business users on ChatGPT, a person close to the company said.
Persons: Sam Altman, OpenAI, SoftBank, Sarah Friar, Friar, Mira Murati, Bob McGrew, Barret Zoph, Altman, Bret Taylor, Sam, Taylor Organizations: Microsoft, Nvidia, CNBC, New York Times, OpenAI, Italian Tech, Khosla Ventures, Fidelity, MGX, Tiger Global Locations: Redmond , Washington
CNBC Daily Open: Markets defied expectations last month
  + stars: | 2024-10-01 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Traders work on the floor of the New York Stock Exchange during morning trading on May 24, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning month and quarterU.S. markets rose on Monday to finish a winning month and quarter. While that may remind investors of the 2015 bubble, when the Chinese stock market doubled in value over six months, analysts think things are different this time.
Persons: Tesla, Jerome Powell, Powell, Cerebras, Stocks Organizations: New York Stock Exchange, CNBC, Nikkei, . Federal, National Association for Business Economics, Nvidia, Systems, Nasdaq, CSI, CNBC Pro Locations: New York City, Asia, Pacific, China, Hong Kong, South
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Winning month and quarterU.S. markets rose on Monday to finish a winning month and quarter. In a filing, Cerebras reported a net loss of $127.2 million on revenue of $78.7 million for 2023. Markets predict measured response from IranIsrael has escalated fighting with Lebanese militia group Hezbollah, hitting Iran's proxy network across the Middle East.
Persons: Tesla, Jerome Powell, Powell, Cerebras, Michael Santoli Organizations: CNBC, . Federal, National Association for Business Economics, Nvidia, Systems, Nasdaq, Lebanese, Hezbollah Locations: Milan, Stellantis, Iran Israel, Iran, U.S, Beijing
Amazon won partial dismissal of an FTC lawsuit alleging illegal monopoly practices. AdvertisementAmazon just won a partial dismissal of a Federal Trade Commission lawsuit that accused it of operating an illegal monopoly. In September 2023, the FTC sued Amazon for stifling competition by punishing vendors who sell their items cheaper on rival platforms and for forcing sellers to use Amazon's own fulfillment service. On Monday, a federal judge in Seattle partially granted Amazon's earlier motion to dismiss the case, Reuters reported, citing court records. Last year, the agency sued Amazon in another case, saying it lured unwitting customers into Prime subscriptions and created a "labyrinthine" process to cancel it.
Persons: Biden, Organizations: Amazon, FTC, Big Tech, Service, Federal Trade Commission, Reuters, Google, Nvidia, Justice, Bloomberg, DOJ, Apple, Activision Blizzard Locations: Seattle, Washington
Andrew Feldman, co-founder and CEO of Cerebras Systems, speaks at the Collision conference in Toronto on June 20, 2024. Cerebras competes with Nvidia , whose graphics processing units are the industry's choice for training and running AI models. In addition to selling chips, Cerebras offers cloud-based services that rely on its own computing clusters. For the full year of 2023, Cerebras reported a net loss of $127.2 million on revenue of $78.7 million. Cloud providers Amazon , Google and Microsoft have developed their own AI chips.
Persons: Andrew Feldman, Cerebras Organizations: Cerebras Systems, Systems, Nasdaq, Cerebras, Nvidia, Google, Microsoft Locations: Toronto, UAE
Morgan Stanley upgrades Blackline to overweight from equal weight Morgan Stanley said the software company is undervalued. Morgan Stanley upgrades US Bancorp to overweight from equal weight Morgan Stanley said U.S. Bancorp is well-positioned going forward. Barclays reiterates Tesla as equal weight Barclays says it's not sure the EV maker's upcoming robotaxi day will be a game changer. Morgan Stanley reiterates Apple as overweight Morgan Stanley says the iPhone 16 cycle remains "unchanged" for now for Apple. Morgan Stanley downgrades JPMorgan to equal weight from overweight Morgan Stanley sees better value elsewhere than shares of JPMorgan.
Persons: Wolfe, Hess, Brent, Morgan Stanley, reprice, Cantor Fitzgerald, Cantor, Tesla, it's, Uber, Apple, Goldman Sachs, Goldman, JPMorgan, Piper Sandler, Piper, Forman, Gamble, TD Cowen Organizations: Chevron, Bancorp, U.S, MU, Autodesk, Barclays, Citi, Meta, Apple, Pro, Westlake, Resources, JPMorgan, DIS, Brown, Barclays downgrades Procter, Accenture, UBS, Brookfield, Partners Locations: AVGO, ASML, TER, OW, 4Q24
The U.S. Federal Reserve's bumper 50-basis-point interest rate cut has been the talk of the market as investors evaluate sectors and stocks. Kingsley Jones, a chief investment officer at the Sydney-headquartered Jevons Global, says the rate cut has "supported the market." Avoid semiconductor equipment Jones is avoiding sectors like semiconductor equipment that companies have been spending more on, following interest in building AI infrastructure and chip factories. He warned of the impact that U.S. sanctions might have on semiconductor equipment plays. "So, I'd avoid the semi equipment sector trade out of that," he added.
Persons: Kingsley Jones, Jevons, Jones, it's, wasn't Organizations: U.S, Sydney, Tech, Big Tech, Nvidia, AbbVie Inc, Costco, Oracle Locations: Federal, United States, China
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