After the release of the CPI data last night, the market began to rally. Tech stocks, led by $Tesla Motors(TSLA)$ , soared, driving the $.IXIC(.IXIC)$ to break through the 20,000-point milestone yesterday!
Among the "MAG 7" companies, five hit all-time highs, with $NVIDIA Corp(NVDA)$ and $Microsoft(MSFT)$ being the exception. This is a sharp contrast to the first half of the year, when Nvidia stood out as the dominant performer in the MAG 7, while Tesla lagged far behind. Over the past 30 days, Tesla has surged by 30%, while Nvidia has dropped by 6%.
Let’s take a closer look at this special edition of all-time-high column!
1. $Netflix(NFLX)$ has surged to $936.56, boasting an impressive year-to-date gain of 92.36%.
From a year-to-date perspective, Netflix has emerged as the profit king of 2023. As of December 11, Netflix has gained 92% this year, climbing from $160 in 2022 to nearly $1,000.
Netflix is set to release the second season of Squid Game on December 26. JPMorgan Chase & Co. recently raised its price target for the stock from $850 to $1,010.
2. $Meta Platforms, Inc.(META)$ closed at $632.68, achieving a strong 78.74% rise year-to-date.
$Meta Platforms, Inc.(META)$ follows closely, up 78% year-to-date.
Meta's advertising business has benefited from this year's election cycle, as well as advancements in AI, which have made ad targeting more precise.
Analysts remain optimistic, with strong consensus ratings and price targets ranging from $475 to $811.
3. $Tesla Motors(TSLA)$ reached $424.77, reflecting a remarkable 70.95% increase since the start of the year.
The recent surge in $Tesla Motors(TSLA)$ needs little explanation. Higher sales and Elon Musk's bold gamble on the election has further propelled its rise. Musk, despite his controversies, never fails to deliver for investors. Investing in Tesla, it seems, consistently pays off!
4. $Amazon.com(AMZN)$ climbed to $230.26, delivering a robust 51.55% year-to-date return.
Amazon delivered an impressive earnings report at the end of October. The company outperformed expectations in revenue, posted significant profit growth, solidified cash flow, and provided strong guidance. These "all beats" have fueled Amazon's continued rise.
Additionally, just before the election, Jeff Bezos refused to publish Democrat-friendly reports in his newspaper.
5. $Alphabet(GOOG)$ advanced to $196.71, posting a 39.58% rise in 2023.
Google announced a breakthrough in quantum computing with its Willow chip, causing the stock to jump 6% in a single day, followed by further gains yesterday.
Google was the last of the big tech giants to join this year's rally. Earlier, it struggled under the weight of antitrust investigations and a lack of significant AI advancements. Now, with its all-time high, Google may continue its upward trend.
6. $Apple(AAPL)$ gained 28.03% this year and closed at $246.49.
While Microsoft has posted a 19% YTD gain, Apple remains the least impressive among the major tech companies this year, with a 28% rise. However, Apple still holds its position as the world's most valuable company.
This year has been turbulent for Apple, with Warren Buffett significantly reducing his holdings in the stock. Surveys also show that user interest in Apple Intelligence has been relatively low. As the holiday shopping season approaches, strong iPhone sales could potentially push Apple to new highs this year.
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