AI π€- Future Wealth?
How many of you invest in AI stocks and aim to HODL for the next decades? Bloomberg Intelligence reports that the generative AI sector had a value of $40 billion in 2022. However, the business intelligence company projects it will skyrocket to an impressive $1.3 trillion within the next decade. For long sighted investors who can spot the potential early, this growth trajectory promises not just profits but a revolutionary opportunity.
Let's look at the technical analysis for a few AI stocks:
PLTR
One of the best AI related counters with good fundamental and contracts on hand. The growth is just a matter of time for the company. The pullback of last Friday might continue early this week to the EMA trend line support before the next rally. Therefore, I continue to vote $Palantir Technologies Inc.(PLTR)$
PLTR daily chart
C3
C3 daily chart
Nothing much to see for C3. AI with a disappointing growth and earnings result. The stock started its uptrend reversal and faced south since early June. The situation doesn't look good as the share price stays below EMA200 critical support now. For such reasons, I am short term $C3.ai, Inc.(AI)$
AMD
AMD daily chart
AMD, NVDA direct rival but recently the stock price no longer on par with NVIDIA. The good thing is the stock broke out from its downtrend line last week and let's see if it can support well above this level. Besides, another good indicator is the EMA 200 support line in green colour. Usually stock will find more buyers at this critical level which might lead to a technical rebound as well, $Advanced Micro Devices(AMD)$
NVDA
NVDA daily chart
How about Nvidia? Just very strong movement and experience some healthy pullback at the end of last week. If the market sentiment turns better this week, the stock might start to challenge its new high again. As it is the definite leader in the AI rally, I remain $NVIDIA Corp(NVDA)$
General
SOXL daily chart
Lastly a general view on the Semiconductor Bull index. Well, although some stocks are doing well during these period, but in general the whole index still in a downtrend pattern, as most of the companies are performing badly in Semiconductor. The order recovery is well behind the expectation, from initial 2nd half of 2023 to current 1st half of 2024! Still a lot of uncertainties ahead, and given that the stock price broke down below ema200 last Friday, I got a $Semiconductor Bull 3X Shares(SOXL)$
Hope you like my sharing!
@CaptainTiger @TigerEvents @Tiger_SG @Tiger_comments @MillionaireTiger @TigerStars
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Palantir has announced a long list of AI deals and that has also proven their growth prospects are stronger than ever
All things considered, I believe that Palantir is currently undervalued and that its stock deserves a Buy rating.
Sold my PLTR a while back & bought NVDA. A much better investment decision, imo.
NVDA is a great company.; In the short term the only thing to worry about is double ordering. If the double orders get cancelled it might get ugly
Will NVDA still be a / the leader 5 years from now? likely. Will its leadership be even stronger than today? probably