All-Time-Highs: Software to Benefit More From AI?
Yesterday, the Dow and S&P 500 hit all-time highs again. Let’s take a look at which companies are following this upward trend!
1. $Arista Networks(ANET)$ hit an all-time high again and reached $409.2 on Wednesday's trading.
The staggering 72% rise this year con contribute to its strong performance in the cloud networking market, benefiting from the rising demand for scalable infrastructure.
Despite higher operating costs and margin pressure, ANET’s growth outlook remains positive with strong demand and new product launches, driving optimistic earnings estimates.
2. $Oracle(ORCL)$ has surged to an all-time high of $178, a 69% YTD gain.
It's driven by its strategic moves into AI and cloud infrastructure markets. It is reported that OpenAI is considering using Oracle’s cloud services, in addition to Microsoft.
Additionally, Oracle's recent earnings have exceeded expectations, with strong revenue and earnings growth, particularly in its cloud services segment, which saw a 45% increase in revenue.
3. Yesterday, $Broadcom(AVGO)$ hit a new high of $186, driven by NVIDIA's rebound and market anticipation for its new product releases.
Benefiting from strong financial reports and momentum in the semiconductor sector, AVGO has achieved a 66% increase this year and continued to rise after completing a stock split.The company is set to showcase its AI data center equipment at the 2024 OCP Global Summit next week.
4.$Netflix surged nearly 50% this year, hitting $728 yesterday.
A positive report from JPMorgan and other analysts highlighted Netflix’s ability to drive mid-teens revenue growth in 2024-2025, bolstered by subscriber growth from its paid-sharing initiative and new advertising revenue streams.
Analysts from JPMorgan, Piper Sandler and TD Cowen raised their price targets to $750-$820.
5. $Royal Caribbean Cruises(RCL)$ gained 49% this year, reaching $193 on Wednesday.
The broader rally in the cruise sector reflects pent-up demand and improved profitability for the industry as it recovers from pandemic-related disruptions.
Citi's analysts expects strong earnings ($20 per share) and growth potential that could drive the stock even higher into 2025. Their price target was also raised significantly to $253.
Royal Caribbean Cruises was identified as "best in class" among cruise operators by JPMorgan analysts in August.
Which all-time-high stocks are you holding?
Will you add them to your watchlist?
Will software or semiconductor to benefit from AI more?
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