Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.
Analyst Evers reiterated his position that Apple, Microsoft, and Nvidia may hit a market cap of $4 trillion.
According to the Smart Finance app, investment bank Wedbush Securities stated that under the impetus of artificial intelligence, technology stocks led by Apple, Microsoft, and Nvidia may rise further by 15% in the second half of this year.$Apple (AAPL.US)$, $Alphabet-A (GOOGL.US)$, $Microsoft (MSFT.US)$, $NVIDIA (NVDA.US)$ and $Meta Platforms (META.US)$Large-cap technology stocks such as Apple may rise by 15% in the second half of this year, according to Smart Finance.
Analyst Dan Ives wrote in an investor report, "We believe that the NASDAQ will perform strongly in the second half of this year as we believe technology stocks will rise 15% for the remainder of 2024 as the use cases of artificial intelligence dramatically expand and tech fundamentals accelerate. "
Ives reiterated his position that Apple, Microsoft and Nvidia could potentially impact a market cap of $4 trillion, with the latter's GPU chip viewed as the "new gold or oil" in the tech industry.
Who can keep up with the AI wave?
Ives said that Nvidia and Microsoft could drive enterprise AI development, while Apple, Meta and Google will release iPhone 16 this fall, ushering in the era of consumer AI.
While the aforementioned groups have garnered a lot of attention related to AI, expect AI content providers to expand, showcasing their clients with "clear value and data-driven use cases built on generative AI models/applications" as technology vendors that can monetize on top of their base expand.
On the other hand, companies that will ultimately become "losers" in the AI revolution will be those who are squeezed out of sales cycles, platforms, and future growth opportunities because they do not have the tools, technology or engineers needed to compete.
Editor / jayden