Nvidia Corp.’s latest earnings report was one for the history books in many ways as the company delivered record profits and revenue — and spurred the biggest one-day haul of market capitalization for any U.S. company. See more: Nvidia makes Wall Street history as stock surge adds $277 billion in market cap
But it’s not just Nvidia
NVDA,
+16.40%
setting records in the wake of its results. Shares of rival Advanced Micro Devices Inc.
AMD,
+10.69%
closed at a new all-time high, up 11.7% to $181.86. The stock also saw its largest single-day percentage gain since May 25, 2023, when it rose 11.2%. Mizuho desk-based analyst Jordan Klein said he liked AMD’s setup and advised that investors watch that stock, along with shares of Marvell Technology Inc.
MRVL,
+6.64%,
Taiwan Semiconductor Manufacturing Co.
TSM,
+2.98%
and Broadcom Inc.
AVGO,
+6.31%,
as fund managers potentially make adjustments. Don’t miss: After Nvidia’s latest blowout, here are 20 AI stocks expected to rise as much as 44% In his view, “AI euphoria and FOMO [fear of missing out] is too early stage and too painful for many to not chase,” Klein wrote. “This is the type of market we are in right now. Not suggesting it is healthy and it will not last forever, but not owning enough AI [semiconductor] winners would be painful for many relative (and even absolute) managers in coming months.” Admittedly, he acknowledged that AMD shares come with a bit of risk as Nvidia prepares to make product updates next month at its GTC conference. That event “could pressure AMD some as we approach and get through GTC,” he wrote, but he doesn’t think Nvidia’s pr …
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But it’s not just Nvidia
NVDA,
+16.40%
setting records in the wake of its results. Shares of rival Advanced Micro Devices Inc.
AMD,
+10.69%
closed at a new all-time high, up 11.7% to $181.86. The stock also saw its largest single-day percentage gain since May 25, 2023, when it rose 11.2%. Mizuho desk-based analyst Jordan Klein said he liked AMD’s setup and advised that investors watch that stock, along with shares of Marvell Technology Inc.
MRVL,
+6.64%,
Taiwan Semiconductor Manufacturing Co.
TSM,
+2.98%
and Broadcom Inc.
AVGO,
+6.31%,
as fund managers potentially make adjustments. Don’t miss: After Nvidia’s latest blowout, here are 20 AI stocks expected to rise as much as 44% In his view, “AI euphoria and FOMO [fear of missing out] is too early stage and too painful for many to not chase,” Klein wrote. “This is the type of market we are in right now. Not suggesting it is healthy and it will not last forever, but not owning enough AI [semiconductor] winners would be painful for many relative (and even absolute) managers in coming months.” Admittedly, he acknowledged that AMD shares come with a bit of risk as Nvidia prepares to make product updates next month at its GTC conference. That event “could pressure AMD some as we approach and get through GTC,” he wrote, but he doesn’t think Nvidia’s pr …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]