To The Moon

🌟🌟🌟📮📮📮What a momentous start to the Year of The Dragon with the S&P500 Closing above 5000 For The First Time Ever!  This is the 5th straight winning week.  Nasdaq gained 2.3% while the Dow Jones Index closed 0.1% lower. 

$SPDR S&P 500 ETF Trust(SPY)$ 

is now up 6% year todate and has jumped 21% last year.  This is due to a solid earnings season, easing inflation data and a resilient economy.  A revision lower in December's consumer price index also helped the bullish sentiment.  The US government adjusted the figure to a 0.2% increase, down from a 0.3% increase initially reported.  January's CPI figures are due next week. 

Megacap Technology Stocks gained again on Friday contributing to the S&P 500's march above 5000.

$NVIDIA Corp(NVDA)$  is up 3.5% on Friday and 5.7% for the week.  Nvidia has jumped 49.7% year todate.  This is due to the high demand for its specialised AI chips. 

$Alphabet(GOOG)$  is up 2% on Friday and 4.3% in the past 5 days.  Google is up 7.6% year todate.  Google is renaming its chatbot from Bard to Gemini to reflect its latest most advanced AI model of that name.  It hopes that the new name will help boost Gemini's usage to overtake OpenAI's ChatGPT's use. 

The new Gemini Chatbot is now available in 40 languages and in more than 230 countries.  Google is also releasing Gemini Advanced, which is built on the largest and most powerful version of its AI model Gemini called Ultra 1.0, which it claims is more capable at reasoning and creative collaboration. 

Gemini Advanced costs USD 19.99 a month with a 2 month free trial.  In contrast $Microsoft(MSFT)$  AI assistant Copilot costs USD 30 a month and Open AI's paid AI assistant costs USD 20 a month. 

Microsoft is up 1.5% on Friday and 2.6% in the past 5 days.  It is now up 13.4% year todate.  Microsoft has overtaken $Apple(AAPL)$   as the most valuable company in the world with a market capitalisation of USD 3.12 Trillion on the back of the surge in AI.   Apple is now in 2nd position with a market capitalisation of USD 3.09 Trillion due to falling sales in the China market. 

Another notable performer is $Amazon.com(AMZN)$  which is up 2.7% on Friday and 16.3% year todate.  Amazon's share price has jumped since it reported its 4Q23 results that topped analysts expectations on both the top and bottom lines.  It reported earnings of USD 1 per share compared to estimate of 78 cents per share.  Net sales of USD 169.96 billion topped expectations of USD 166.21 billion. 

AWS or Amazon Web Services rose 13% in terms of its revenue versus 11.8% expected.  Amazon's profits rose 7.8% versus 6.2% expected.

Is it time to buy these amazing stocks or they too high now? 

I believe that a good strategy to buy these winning stocks is to dollar cost average using Tiger Brokers ' Auto Invest.  Microsoft, Apple, Nvidia, Google, Amazon, Meta Platforms are all part of the Magnificent 7.  These are market leaders with wide moats, great profitability, rock solid balance sheet and excellent management team. 

Even though their share prices have jumped, I believe there is still ample room for further growth. 

Investing is a marathon and not a sprint.  With Auto Invest, there is no need to market time when to buy the stocks.  It is simple yet so rewarding and over a long term horizon the magic of compounding will power our portfolio to new heights! 

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