US equities shrugged off the difficult start to 2024 as technology stocks led the market to further gains. Many big technology stocks are delivering trading updates in the next few weeks and expectations for sales growth have driven some rapid gains. Chipmaker Nvidia’s share price has risen 24% since the start of January as investors expect demand for high quality microchips to keep growing. IBM’s shares also jumped this week as growth of its AI business drove Q4 sales. Netflix saw its shares rally following a big increase in subscribers following its crackdown on password sharing.
Demand for advanced microchips is driving share prices of global stocks. South Korean chipmaker SK Hynix swung back to profit due to demand for chips with AI capabilities. ASML, a Dutch firm which makes chipmaking equipment, said Q4 revenues hit a record as sales increased 30%. Meanwhile, Q4 sales at Taiwan Semiconductor Manufacturing Co, Nvidia’s biggest competitor, were up 13% and it expects to see more demand this year.
For the following stories, please click on this link*
- US: Economic growth remains remarkably resilient as rate cuts appear more likely
- Rates: Markets look for direction from ECB and Bank of Japan
- China: Potential Government stimulus halts equities decline
(*Please note, The contents of this e-shot been prepared for general information only. It does not contain all of the information which an investor may require in order to make an investment decision. If you are unsure whether this is a suitable investment you should speak to your financial adviser. This information is not guaranteed to be correct, complete, or accurate. FE Research is a division of Financial Express Investments Ltd, registration number 03110696, which is authorised and regulated by the Financial Conduct Authority (FRN 209967). For our full disclaimer please visit www.financialexpress.net/uk/disclaimer. Data Sourced from FE Analytics, and Bloomberg Finance LP.)
No comment yet, add your voice below!