2023-04-20 14:53:41
Not Apple or Microsoft. On Wall Street named the real market leader
Louis Navelier, Chairman of the Board of Directors of Navellier & Associates, believes that despite the high share of Apple and Microsoft in the S&P 500 index, the papers of another company are the real market leaders.
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Since the start of 2023, the NASDAQ Composite Technology Index has risen more than 16%, outperforming the S&P 500 and Dow Jones, which are up 7.53% and 1.74%, respectively. Shares of technology companies were among the market leaders against the backdrop of the banking crisis in the country.
Louis Navelier, chairman of financial consulting firm Navellier & Associates, noted that Apple and Microsoft are by far the market leaders this year as they hold the largest share of the benchmark. However, the real market leader is actually the chipmaker NVIDIA, said Navelier in an interview with CNBC.
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“I would respectfully argue that NVIDIA is probably the real market leader simply because of all this hype [вокруг искусственного интеллекта] and the role that the company plays in the development of AI,” said Navelier.
He noted that the company dominates the production of graphics chips, as well as the production of components for the development of artificial intelligence. In addition, NVIDIA makes the best automated driving systems, Navelier added.
Since the beginning of 2023, NVIDIA shares are up 91.12% to $279.31 a share, according to market closing data on Wednesday, April 19. Over the past 12 months, the chipmaker’s papers have skyrocketed by more than 25%.
“I don’t want to pay a big premium for growth, but NVIDIA will be a rare exception,” Navelier said.
Among other promising securities, he named the shares of the following companies:
- manufacturer of heat pumps and air conditioning equipment AAON (Navellier expects earnings to increase by 60.6%);
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manufacturer of alarm system and electronic security systems Napco Security Technologies (Navellier expects earnings growth of 137.5%);
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biotechnology company Catalyst Pharmaceuticals (Navellier expects profit growth of 166.7%).
NVDA — HSBC [18.04.2024] [0.28]
Formerly The Wall Street Journal wrote that the combined share of Apple and Microsoft shares in the US broad market S&P 500 stock index has become the largest in the last 45 years. Apple and Microsoft combined accounted for 13.3% of the S&P 500 at the end of March, with the iPhone maker holding 7.11% and the software and cloud computing maker 6.14%, according to data from brokerage Strategas Securities. .
Dmitry Ilyin.
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