{"id":30796,"date":"2023-07-03T10:54:14","date_gmt":"2023-07-03T14:54:14","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/nvidia-leads-big-tech-renaissance\/"},"modified":"2023-07-03T10:54:16","modified_gmt":"2023-07-03T14:54:16","slug":"nvidia-leads-big-tech-renaissance","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30796","title":{"rendered":"Nvidia Leads Big Tech Renaissance"},"content":{"rendered":"<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>An over $4 trillion big tech resurgence for the biggest technology companies drove the stock market\u2019s strong first half of 2023, as investors pour boundless optimism into the artificial intelligence wave, leading to some questions of whether the broader gains will stick.<\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p><strong>Nvidia<\/strong> is by far the top-performing member of the S&amp;P 500 this year, according to FactSet data, as the leading AI chipmaker&#8217;s stock spiked 190% in the first half and hit an all-time high in May; fellow chipmakers <strong>Palo Alto Networks<\/strong> (up 83%) and <strong data-ga-track=\"InternalLink:https:\/\/www.forbes.com\/sites\/iainmartin\/2023\/05\/31\/lisa-su-saved-amd-now-she-wants-nvidias-ai-crown\/\">Advanced Micro Devices<\/strong> (76%) are the sixth and eighth-best performers on the index.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Nvidia also headlines the broader rally for mega-cap tech, as the six other largest American tech companies\u2014<strong>Apple <\/strong>(up 50%),<strong> Microsoft <\/strong>(43%)<strong>, Alphabet <\/strong>(36%)<strong>, Amazon <\/strong>(55%)<strong>, Tesla <\/strong>(113%) <strong>and Meta <\/strong>(138%)\u2014are each among the 50 top returners on the S&amp;P, collectively tacking on $4.1 trillion in market capitalization.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Also in the top five are a pair of perhaps surprising names\u2014cruise lines <strong>Royal Caribbean<\/strong> (up 111%) and <strong>Carnival<\/strong> (133%)\u2014both of which smashed on first quarter revenue expectations yet still sit well below their pre-pandemic share prices.<\/p>\n<p>  <fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad>\n <\/div>\n<div class=\"key-facts-element\">\n<p><strong>Ambrx Biopharma <\/strong>(up 625%) is the best-performing small-cap stock included on the Russell 3000, <strong>Carvana <\/strong>(452%) is the top mid-cap pick, <strong>Super Micro Computer <\/strong>(206%) is the top large cap name and Nvidia tops the mega-cap list.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p><strong>Salesforce <\/strong>(up 59%) is the biggest gainer listed on the Dow Jones Industrial Average, while Ambrx is the tech-heavy Nasdaq\u2019s big winner.<\/p>\n<\/p><\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>Year to date, the S&amp;P, Dow and Nasdaq are up 16%, 4% and 33%, respectively, rebounding from the stock market\u2019s dreadful 2022, which saw the worst returns in 13 years. Information technology (think Apple and Oracle), communication services (Comcast and Netflix) and consumer discretionary (Amazon and Starbucks) are the S&amp;P\u2019s top-performing sectors this year, bucking last year when the trio were the index\u2019s biggest laggards.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Crucial Quote<\/h2>\n<p>\u201cAI is the new electricity\u201d and \u201cis about to revolutionize everything,\u201d Bank of America strategists wrote this spring, likening it to the internet-fueled tech boom during the 1990s.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Contra<\/h2>\n<p>Despite the market&#8217;s headline gains, it\u2019s been far from a banner year for all firms. The median stock listed on the S&amp;P has returned 5%, meaning a few surging names are leading the overall rally. In fact, the weight of the S&amp;P\u2019s two largest components, Apple and Microsoft, is at its highest level in four decades.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Chief Critic<\/h2>\n<p>In a note to clients last month, Morgan Stanley chief strategist Michael Wilson said he views \u201cAI as mostly a cost in 2023 that will pressure margins further as [profit] disappoints,\u201d explaining AI-driven growth hopes have little effect on most corporate earnings in the near term.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Tangent<\/h2>\n<p>It\u2019s been a painful year for investors long on energy, utilities, healthcare and financial services, with each sector down 2% or more through Friday.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<p>Worst Stocks Of 2023\u2019s First Half: Battered Banks And Vaccine Makers (<em>Forbes<\/em>)<\/p>\n<p>These 7 Tech Stocks Command Almost 90% Of The S&amp;P 500\u2019s Gains\u2014Signaling Market Rally May Not Be So Healthy (<em>Forbes<\/em>)<\/p>\n<p>Bigger Than Amazon? Nvidia Stock Surges After \u2018Cosmological\u2019 Profit Projections (<em>Forbes<\/em>)<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/07\/03\/best-stocks-of-2023s-first-half-nvidia-leads-big-tech-renaissance\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline An over $4 trillion big tech resurgence for the biggest technology companies drove the stock market\u2019s strong first half of 2023, as investors pour boundless optimism into the artificial intelligence wave, leading to some questions of whether the broader gains will stick. Key Facts Nvidia is by far the top-performing member of the S&amp;P [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":30797,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-30796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nvidia Leads Big Tech Renaissance | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline An over $4 trillion big tech resurgence for the biggest technology companies drove the stock market\u2019s strong first half of 2023, as investors pour\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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