To The Moon

Having fallen for most of last week, was yesterday Wall Street’s attempt to stage a recovery of sort? US stocks closed higher Mon, 14 Aug, led by a sharp rise in tech stocks, as Wall Street attempted to shake off a rough August so far. By the time market closed: (see above) DJIA: +0.09% (+26.33 to 35,307.63). S&P 500: +0.58% (+25.67 to 4,489.72). Nasdaq: +1.05% (13,788.33). Could this be Wall Street way of luring in unsuspecting investors as “Retailer’ stocks take centre stage this week to report their quarterly earnings: $Home Depot(HD)$. Tue, 15 Aug (am). $Target(TGT)$. Wed, 16 Aug (am). Wal-Mart Inc. Thu, 17 Aug (am). Noticed how these retailer stocks are announcing their earnings in the mornings versus IT stocks’ earnings announcement after market closing. Market analysts are also waiting to access and comb thru the Fed’s July 2023 FOMC minutes of meeting when it is released on Wed, 16 Aug 2023. All of them will be looking for clues & directions to confirm their self-prophesized theory (see below): That the Fed will hold interest rate steady When the Fed next convene for their FOMC meeting tentatively scheduled on 19-20 Sep 2023. Now that it has been “universally” accepted that US is unlikely to slip into recession (see above) anytime soon, there is a glimmer of hope in the 2024 horizon. According to Wall Street analysts, there is no “better” time than now to consider loading up on the below 3 stocks instead of the usual FAAG + Microsoft + Nvidia + Tesla. The 3 recommended stocks are: $Berkshire Hathaway(BRK.B)$ $Advanced Micro Devices(AMD)$. $SoFi Technologies Inc.(SOFI)$. According to the just released 30 Jun 2023 data from Apex Fintech Solutions, S&P Global Market Intelligence MarketSmith. The 3 mentioned stocks (see above) are the “10 most commonly held stocks across all generations”. Honestly, this is something new to me; especially SoFi technologies ($SOFI). Hmm… Given the limited real estate, I will focus on Advanced Micro Devices ($AMD) in this post. After “FAAG + Microsoft + Nvidia + Tesla”, chipmaker AMD is investors' next most popular holding. It's no slouch. Shares are up +66% in 2023 alone. Like $AAPL, AMD's quarterly profit has been falling. On 01 Aug 2023, AMD reported a quarterly profit of 58 cents a share for Q2 2023. Although that topped views, AMD was down -44% YoY. FYI… profit fell in the last 2 quarters as well. What investors are seeing are “growth & potentials from AMD”. Company's profit is forecasted to rise +1.4% in Q3 2023 & +29% in Q4 2023. Wouldn’t you be “tempted” to like $AMD too; given such attractive forecasts? My Afterthoughts: I think the additional 3 stocks like by everyone is hardly any surprise; especially Berkshire Hathaway I am already a proud investor of $SoFi and I am convinced this is a growth stock to keep and add onto my portfolio, whenever there is a correction. As for AMD, this is a stock that I will definitely be monitoring. I believe the pie is big enough for more than one dominant artificial intelligence (AI) chip maker (Nvidia); just as it is now. Do you think you are a fan of the 3 additional stocks? Do you think chip maker AMD will do well into Q4 2023 and beyond; given the positive outlook of the US economy? Please give a “LIKe”, “Share” & “Re-post” ok. Thanks. Rating is very important to me. Will you consider “Follow me” and get firsthand read of my daily new posts? @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents