The first half of 2024 has been full of excitement, with opportunities and risks coexisting in the global investment market - the AI boom continues, with Microsoft, Apple, and Nvidia vying for the top spot in market capitalization, and the Fed's interest rate cut expectations still uncertain... For investors who are also witnesses of a large era, the situation is exciting.
Looking back at the past and accumulating experience, welcome to subscribe to the exclusive semi-annual review of 2024. May all our efforts in the first half of the year be the groundwork for the surprises in the second half of the year."2024 Exclusive Mid-Year Review", may all our efforts in the first half of the year be the groundwork for the surprises in the second half of the year.
Looking back at the first half of 2024, the AI boom and the expected rate cut by the Fed have all boosted risky assets such as US stocks.
The US stock market had a very strong performance in the first half of this year, with the S&P 500 index up over 15% since the beginning of the year, and hitting a historic new high for the 31st time this year. The Nasdaq index rose as much as 19% during the same period, repeatedly hitting record highs this year as well.
Looking at the top ten stocks that skyrocketed in the first half of the year, AI is still the investment theme. The "leader" in the AI chip industry has soared by over 170% and 223% respectively this year.$NVIDIA (NVDA.US)$Joining forces with major AI server and storage technology companies,$Super Micro Computer (SMCI.US)$the stock has risen more than 170% and 223% respectively this year.
It is worth noting that the global capital market reached a milestone event overnight - Nvidia's market value reached 3.335 trillion US dollars, surpassing Microsoft and Apple, becoming the most valuable listed company in the world.
In addition to these two AI-hot stocks, the wave of AI has also begun to spread to various fields this year:
As the demand for electric power is increasing with the rise of AI, electrical utility stocks$Vistra Energy (VST.US)$, $Constellation Energy (CEG.US)$have risen by 129% and 89% respectively this year;
As the only liquid cooling supplier for Nvidia,$Vertiv Holdings (VRT.US)$has soared by nearly 100% this year and has risen nearly six-fold since 2023;
Benefiting from the high popularity of the AI PC concept,$Dell Technologies (DELL.US)$the stock price has nearly doubled this year;
The global IT pioneer that provides storage as a service for multi-cloud environments$Pure Storage (PSTG.US)$has risen by more than 90% this year, and the company has teamed up with Nvidia to create top-level AI infrastructure.
It is worth noting that the seven giants of the US stock market (Magnificent Seven, referred to as"Mag7") showed different trends this year, compared to last year.
Apart from Nvidia dominating various top gainers list,$Meta Platforms (META.US)$Rises over 40% this year, and over 20% for Nvidia; Microsoft and Apple are taking turns leading the market cap. However, Goldman Sachs is lagging behind, with a fall of 25% this year. Apart from the seven giants, the chip giant Nvidia has hit historical highs on multiple occasions this year, and the weight loss drugs duo have also recorded good increases, rising over 50% and 37% respectively. Goldman Sachs analyst Peter Callahan pointed out that the US stock market is not currently in a state of "overvaluation" because the P/E ratios of the top ten market cap stocks in the S&P 500 are about 30 times, while in the peak of the Internet bubble in 2000, the P/E ratios of the top ten stocks were about 47 times. If the top ten stocks are excluded, the overall P/E ratio of the S&P 500 index is only 18 times. Therefore, as long as the US stock market maintains its upward trend, it still has the potential to continue rising.$Alphabet-A (GOOGL.US)$, $Amazon (AMZN.US)$Apart from the seven tech giants, chip giants like Nvidia have hit record highs this year, while weight loss drug leaders like stocks have also seen solid gains this year, up over 50% and 37% respectively. $Tesla (TSLA.US)$Goldman Sachs analyst Peter Callahan says that the US stock market is not currently in a state of 'overvaluation' because the P/E ratio of the top ten stocks in the S&P 500 index is about 30 times, compared to about 47 times in 2000 during the Internet bubble peak. If the top ten stocks are excluded, the overall P/E ratio of the S&P 500 index is only 18 times. Therefore, as long as the US stock market continues to rise, it still has the potential to continue rising.
The chip stock giant Nvidia$Taiwan Semiconductor (TSM.US)$, $Broadcom (AVGO.US)$The weight loss drugs duo$Eli Lilly and Co (LLY.US)$, $Novo-Nordisk A/S (NVO.US)$This year they have also recorded good increases, rising over 50% and 37% respectively.
Goldman Sachs analyst Peter Callahan pointed out that the US stock market is not currently in a state of "overvaluation" because the P/E ratios of the top ten market cap stocks in the S&P 500 are about 30 times, while in the peak of the Internet bubble in 2000, the P/E ratios of the top ten stocks were about 47 times. If the top ten stocks are excluded, the overall P/E ratio of the S&P 500 index is only 18 times. Therefore, as long as the US stock market maintains its upward trend, it still has the potential to continue rising.
Mooers, the mid-year review and sharing event is coming, and the stock market will be in full swing in the first half of 2024. What bull market opportunities did you seize?
Welcome to share your warehouse and investment experience with your fellow mooers. Let's review the investment performance of the first half of the year together, and there are limited edition Futubulls (Futubull dolls, soldier bull, knight bull) and a large number of points waiting for you to claim.Come and join us now~
Editor/Somer