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Friday's Spotlight: Nvidia Rises, Market Fell

On Thursday, Nvidia (NVDA) posted quarterly results and issued an outlook that surpassed even the most optimistic analysts. NVDA stock gained $88.49, up 9.32%, closing at $1,037.99.

Nvidia gained because the company will split the stock ten-for-one, increasing its affordability for the everyday retail investor.

Semiconductor stocks did not rise with Nvidia. That is a bearish signal. On the day, AMD fell by 3.08%, Intel (INTC) lost 4.26%, and Texas Instruments fell by 2.59%.

Nvidia’s fresh new high raises its market capitalization to $2.595 trillion. Its size will soon exceed Apple (AAPL) at $2.86 trillion. It is now worth more than Amazon (AMZN). Microsoft (MSFT) is still in the lead at $3.17 trillion. After OpenAI announced ChatGPT 4.o, demand for AI will increase exponentially. Normal conversational AI and AI-created videos will raise the demand for servers that power and train AI systems.

The Dow fell by 605.8 points, backing down from the historical 40,000 level. Investors took profits in Goldman Sachs (GS), UnitedHealth (UNH), and Caterpillar (CAT). This is another troubling signal. Stocks in the traditional sectors need to trend higher as AI-related stocks rise. They are the buyers of AI solutions.

In the near term, expect Nvidia, Super Micro Computer (SMCI), and Microsoft (MSFT) to trade higher. The rest of the market may not follow its rise this time.