Editor's note:《Monthly Hong Kong and US Stocks Bull and Bear Shares》The column closely follows market trends, takes stock of the monthly performance of the Hong Kong and US stock markets, helps newcomers sort out the month's hot sectors, strong individual stocks, and major news, and find profitable investment topics.
Overnight, the S&P 500 closed with another all-time high, ending a relatively successful trading day for the first quarter of 2024. According to statistics, the index has reached a closing high for the 22nd time this year.
The three major stock indexes recorded gains in March and the first quarter. The S&P 500 index rose 3.1% during the month and 10.16% in the first quarter, the best first-quarter gain since 2019; the Dow rose 2.08% this month, and the Nasdaq index rose 1.79% this month.
Specifically, Bitcoin continued to be strong this month, rising 12.85% for the whole month of March. The latest report was 70456.9 US dollars/coin. The largest Bitcoin holding company in the world$MicroStrategy (MSTR.US)$Shares rose nearly 67% again in March, hitting a new high since March 2000; cryptocurrency exchanges$Coinbase (COIN.US)$The monthly increase was over 30%.
HBM's ability to suck in gold is full! The latest results are$Micron Technology (MU.US)$The rise in stock prices “added fuel.” Micron Technology's revenue growth rate for the second fiscal quarter was nearly four times that of the previous quarter. Operating profit exceeded 200 million US dollars, which unexpectedly turned a loss into a profit; revenue guidance for the third fiscal quarter increased by at least 70% year over year.
Micron said that the second fiscal quarter is the first revenue generation quarter for HBM3E, which will supply the Nvidia H200. The product has been sold out this year, and orders scheduled for next year already account for most of next year's supply; HBM is expected to generate hundreds of millions of dollars in revenue in fiscal year 2024, and its revenue is expected to positively affect the DRAM business and overall gross profit margin from the third fiscal quarter; strong demand for AI servers will have a positive ripple effect on all memory markets.
The AI data center is not only an “electric monster”, but also a “copper devour”! Morgan Stanley said in its latest report that with the rapid development of AI technology, copper demand will increase significantly, and data centers will become a new growth point for copper demand. By the fourth quarter of 2024, the price of copper may rise to 10,500 US dollars/ton, which is 18% higher than the current level. Benefiting from this,$Southern Copper (SCCO.US)$It surged nearly 32% during the month, reaching a record high.
On the other hand, the weakest performing stocks this month are as follows:
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