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- Jun 5th Stock Market Update - Nvidia becomes the 2nd most valuable company
Jun 5th Stock Market Update - Nvidia becomes the 2nd most valuable company
$LULU $LMND $FOUR
Mukund Mohan
June 05, 2024
Market
“Nvidia shot up another 5% as its market cap went over $3 Trillion moving past Apple as the 2nd most valuable US company listed in the market. It could overtake MSFT as early as in the next few weeks” 😊 🤪
All 3 indices rose higher driven by technology stocks, with Nvidia dominating
While many SaaS stocks are still struggling save CRWD, the semiconductor boom led by Nvidia is not showing any sign of slowdown. It will happen eventually, but given the number of upgrades and $1500 price targets on NVDA this seems unlikely
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Technology stocks still drove the market, with the mag 7 heading higher
Nvidia, ASML, TSM and Broadcom (All Semiconductor) stocks drove the NASDAQ up 300+ points on the day.
Insights from the portfolio
Video of the day
Today’s video is on Lulu Lemon, $LULU which reported slowing revenue growth, but enough share buyback plan of $1B to drive shares up 10% after hours.
