From Nasdaq: 2024-06-25 08:30:00

The first half of 2024 has been successful for Wall Street following a strong 2023. The rally is driven by generative AI, with impressive performances from both large-cap and mid-cap stocks. The second half is expected to continue the bull run with support from a resilient U.S. economy and solid earnings results.

Tech heavyweights like NVIDIA and Micron Technology have seen significant growth, benefiting from the demand for AI chipsets. NVIDIA’s upcoming Blackwell and Rubin architectures are expected to further drive growth. Micron anticipates a price increase for its memory chips due to rising AI server demand.

Super Micro Computer has experienced a surge in demand for servers powered by high-end AI chipsets, resulting in strong revenue and earnings growth expectations. The company, known for its server solutions utilizing NVIDIA processors, is positioned as a leading provider of high-performance rack servers for AI applications.

DELL has expanded its AI offerings in partnership with NVIDIA, leading to strong demand for its PowerEdge XE9680 server. The company is benefitting from the ongoing digital transformation and increased interest in AI applications. With expected revenue and earnings growth, Dell Technologies remains a strong player in the AI server market.

Amazon is experiencing growth due to its solid Prime momentum and focus on generative AI. The company’s strong relationships with third-party sellers and the adoption of AWS are driving its success. With a focus on ultrafast delivery services and a strong content portfolio, Amazon is positioned for continued growth and success.



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