Market Today: Google's Quantum Chip Boosts Quantum Stocks, Marvell's AI Breakthrough

GuruFocus12-11

Market Overview The stock market continued its downward trend this week, driven by profit-taking after last week's record highs and a strong performance since the beginning of the year. The major ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2490202270?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-11 06:32","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2490202270","market":"hk","top_or_hot":-1,"title":"Market Today: Google's Quantum Chip Boosts Quantum Stocks, Marvell's AI Breakthrough","media":"GuruFocus","content":"<div>\n<p>Market Overview The stock market continued its downward trend this week, driven by profit-taking after last week's record highs and a strong performance since the beginning of the year. The major ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2629494/market-today-googles-quantum-chip-boosts-quantum-stocks-marvells-ai-breakthrough\">Source Link</a>\n\n</div>\n","source":"gurufocus_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Today: Google's Quantum Chip Boosts Quantum Stocks, Marvell's AI Breakthrough</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Today: Google's Quantum Chip Boosts Quantum Stocks, Marvell's AI Breakthrough\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-11 06:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.gurufocus.com/news/2629494/market-today-googles-quantum-chip-boosts-quantum-stocks-marvells-ai-breakthrough><strong>GuruFocus</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Market Overview The stock market continued its downward trend this week, driven by profit-taking after last week's record highs and a strong performance since the beginning of the year. The major ...</p>\n\n<a href=\"https://www.gurufocus.com/news/2629494/market-today-googles-quantum-chip-boosts-quantum-stocks-marvells-ai-breakthrough\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"3NVD.UK","symbol_name":"LS 3X NVIDIA","start_time":0,"source_url":"https://www.gurufocus.com/news/2629494/market-today-googles-quantum-chip-boosts-quantum-stocks-marvells-ai-breakthrough","article_id":"2490202270","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2490202270","pubTimestamp":1733869978,"columns":[],"sourceInfo":{"source_id":"gurufocus_highlight","name":"GuruFocus"},"weMediaInfo":null,"summary":"Market Overview The stock market continued its downward trend this week, driven by profit-taking after last week's record highs and a strong performance since the beginning of the year. The major indi","collect":0,"end_time":0,"defaultTopTitle":"gurufocus.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"3NVD.UK":"LS 3X NVIDIA","2NVD.UK":"2X NVIDIA ETP","MU":"美光科技","CPI":"IQ Real Return ETF","ALK":"阿拉斯加航空集团有限公司","LU0471298694.HKD":"BGF NUTRITION \"A2\" (HKD) ACC","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","NVD2.UK":"2X NVIDIA ETP","NVD3.UK":"LS 3X NVIDIA","NVDS":"Tradr 1.5X Short NVDA Daily ETF","SG9999018857.SGD":"United Global Quality Growth Fd Cl Acc SGD-H","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","ACI":"艾伯森","NVDU":"Direxion Daily NVDA Bull 2X Shares","LU1046421795.USD":"富达环球科技A-ACC","LU0157215616.USD":"FIDELITY GLOBAL FOCUS \"A\" INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","SNVD.UK":"LS -1X NVIDIA","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","NVDX":"T-REX 2X LONG NVIDIA DAILY TARGET ETF","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","NVDY":"YIELDMAX NVDA OPTION INCOME STRATEGY ETF","BK4528":"SaaS概念","NVDS.UK":"LS -1X NVIDIA","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","LU2764262908.HKD":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (HKD) ACC","GOOGL":"谷歌A","LU0528227936.USD":"富达环球人口趋势基金A-ACC","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","GOOG":"谷歌","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","KR":"克罗格","LU0238689110.USD":"贝莱德环球动力股票基金","LU1119994496.HKD":"FIDELITY WORLD \"A\" (HKD) ACC","LU2213496289.HKD":"ALLIANZ INCOME AND GROWTH \"AT\" (HKD) ACC","LU2764263203.CNY":"BGF GLOBAL UNCONSTRAINED EQUITY \"A2\" (CNYHDG) ACC","LU1983260115.SGD":"Janus Henderson Horizon Global Sustainable Equity A2 SGD-H","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","NVD":"GraniteShares 2x Short NVDA Daily ETF","BK4538":"云计算","NVDD":"Direxion Daily NVDA Bear 1X Shares","LU1037948541.HKD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (HKD) ACC"},"translate_title":"今日行情：谷歌量子芯片提振量子股，Marvell人工智能突破","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ACI":1,"ALK":1,"CPI":1,"GOOG":1,"GOOGL":1,"KR":1,"MU":1,"NVDS":0.6,"NVD":0.6,"NVD2.UK":0.6,"NVD3.UK":0.6,"NVDD":0.6,"NVDS.UK":0.6,"NVDU":0.6,"NVDX":0.6,"NVDY":0.6,"SNVD.UK":0.6,"3NVD.UK":0.6,"2NVD.UK":0.6},"content_text":"Market Overview The stock market continued its downward trend this week, driven by profit-taking after last week's record highs and a strong performance since the beginning of the year. The major indices, including the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average, spent most of the morning near their previous closing levels before experiencing increased selling pressure in the afternoon. The S&P 500 and Nasdaq Composite both declined by 0.3%, while the Dow Jones Industrial Average dropped by 0.4%, closing near their lowest points of the day.Downward movements in these indices were partly due to some mega-cap stocks reversing earlier gains. Notable laggards included NVIDIA (NVDA) at $135.07, down 2.7%, Amazon.com (AMZN) at $225.04, down 0.5%, and Eli Lilly (LLY) at $799.58, down 0.5%. Despite these declines, NVDA shares have increased by 171.7% in 2024, AMZN shares by 48.1% since the start of the year, and LLY shares by 37.2%.Individual Stock Performances Oracle (ORCL): Shares fell by 6.7% to $177.74 following a disappointing fiscal Q2 earnings report that missed consensus EPS estimates and issued lower-than-expected guidance for fiscal Q3. Alaska Air (ALK): The stock surged by 13.2% to $61.29 after revealing an impressive three-year strategic plan during its Investor Day, along with fiscal year 2025 EPS guidance that exceeded current consensus expectations. Alphabet (GOOG): Shares rose as much as 6.2% at its peak, closing up 5.3% at $186.53, following the unveiling of its new Willow quantum computing chip and being named a \"Top Pick\" by Piper Sandler. Kroger (KR): The stock jumped 5.1% to $60.73 after reports suggested that its M&A deal with Albertson's (ACI) was blocked by a judge.Economic Indicators The lackluster performance of major indices was partly due to caution ahead of the upcoming release of the November Consumer Price Index (CPI) at 8:30 ET. In anticipation, Treasury yields edged higher, with the 10-year yield rising two basis points to 4.22%, and the 2-year yield also increasing by two basis points to 4.15%.Year-to-date performance for various indices:Nasdaq Composite: +31.2% S&P 500: +26.5% S&P Midcap 400: +18.4% Russell 2000: +17.6% Dow Jones Industrial Average: +17.4%Economic Data Review November NFIB Small Business Optimism: 101.7 (Prior 93.7) Q3 Productivity-Rev.: 2.2% (Consensus 2.2%, Prior 2.2%) Q3 Unit Labor Costs-Rev.: 0.8% (Consensus 1.9%, Prior 1.9%) The key takeaway from these reports is the inflation-friendly indicator of unit labor costs rising in more modest proportions during the third quarter.Upcoming Economic Events 7:00 ET: Weekly MBA Mortgage Index (Prior 2.8%) 8:30 ET: November CPI (Consensus 0.3%; Prior 0.2%) and Core CPI (Consensus 0.3%; Prior 0.3%) 10:30 ET: Weekly Crude Oil Inventories (Prior -5.07 mln) 14:00 ET: November Treasury Budget (Prior -$257.0 bln)Global Markets and Commodities Overseas market performance:Europe: DAX +0.0%, FTSE -0.8%, CAC -1.1% Asia: Nikkei +0.6%, Hang Seng -0.5%, Shanghai +0.6%Commodities performance:Today's NewsGoogle's (GOOG, GOOGL) recent unveiling of its revolutionary quantum chip, Willow, has sparked a surge in quantum computing stocks. Rigetti Computing (RGTI, Financial) led the gains with a 45% increase, while Quantum Computing (QUBT, Financial) and D-Wave Quantum (QBTS, Financial) also saw modest rises. Google's shares climbed 5% as the tech giant approaches its all-time high, driven by Willow's potential to transform industries such as AI and healthcare. The advancements in quantum error correction and processing power are poised to significantly impact drug discovery and other fields.Marvell Technology (MRVL, Financial) announced a breakthrough in custom high-bandwidth memory for AI processors, enhancing its AI accelerator architecture, XPU. This innovation offers 25% more compute power and 33% greater memory efficiency. Marvell collaborates with Micron (MU), Samsung, and SK hynix to develop these processors, aiming to revolutionize AI accelerators and support cloud data center operators in scaling their infrastructure.Walgreens Boots Alliance (WBA, Financial) experienced a significant 17.9% surge following reports of potential acquisition talks with Sycamore Partners. This development comes amidst Walgreens' strategic changes, including plans to close 1,200 stores over three years. The pharmacy retailer's market cap stands at $7.7 billion, and a potential deal could involve selling parts of the company or collaborating with partners.The Ohio Supreme Court ruled in favor of CVS Health (CVS, Financial), Walgreens (WBA, Financial), and Walmart (WMT, Financial) in a case involving opioid medication dispensing. This decision could overturn a previous $651 million award to Lake and Trumbull counties. The ruling highlights the application of state product liability laws, affecting ongoing litigation strategies related to opioid distribution.GameStop (GME, Financial) reported a Q3 revenue decline of 20.4% year-over-year to $860.3 million, missing expectations. However, the company achieved a net income of $17.4 million, reversing a loss from the previous year. The balance sheet showed $4.616 billion in cash and securities, supported by a recent equity offering that raised $400 million. Despite the revenue miss, GameStop's financial position remains strong.Broadcom (AVGO, Financial) shares fell 4.5% ahead of its quarterly results, despite Citi's positive outlook and increased price target. Analysts expect Broadcom to exceed consensus results, driven by a recovery in the non-AI semiconductor business. However, tempered guidance for the upcoming quarter reflects a slowdown in orders from key AI customers like Google, with potential growth from Meta anticipated in 2025.Tesla (TSLA, Financial) is reportedly exploring showroom space in New Delhi, India, indicating a potential market entry. Earlier plans for manufacturing in India were postponed, and recent developments suggest a shift in strategy. This aligns with India's new $500 million electric vehicle policy aimed at attracting global investments and positioning the country as a manufacturing hub.GuruFocus Stock AnalysisTesla Resumes Efforts to Enter the Indian Market with New Initiatives by Faizan FarooqueBarington Calls for Matthews International CEO Replacement, Shares Rise Post Announcement by Faizan FarooqueWalgreens Boots Alliance is Discussing Divestiture to Sycamore Partners by ShantiPutriAlphabet Surges 5%, Oracle Slides 8% on Missed Targets, Nvidia Slips 2.5% by Nauman khanUBS Overhauls U.S. Strategy with Regional Wealth Divisions to Boost Affluent Client Outreach by Muslim Farooque","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"productRelease","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2490202270"}