AI Tech Stocks Earnings Season Opportunities

Companies / Earnings Apr 28, 2024 - 10:06 AM GMT

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Stock Market Brief - Saturday 27th April 2024

S&P 5100 - 3 weeks down sees the index bounce off support at 4960, with the trend inline with the swing projection for a 2 month correction into late May targeting 4800 as per last analysis, so the downtrend should resume next week.

Stocks Correct into Bitcoin Happy Thanks Halving - Earnings Season Buying Opps -

Tech Stocks earnings season went off with a BANG! Triggering opps to accumulate and trim. META tanked by 22% falling to $401, triggering small buys all the way before bouncing to sit perched below resistance at 450 ready for it's next leg lower below $400 for more buys.

Google as per last analysis continues to climb a stairway to $200, spiked to $184.6, triggering sells from $179 upwards, currently perched at $174. Google remains destined to trade over $200.

Earnings quick take -

Improving EGF's (Earnings)
Google
LRCX
KLAC

Worsening EGF's (Earnings)
Microsoft
META
ASML
IBM

Plenty more opps came along in medium and higher risk stocks, for instance ULH rocketed higher by 50% to $48 in one day! That's what bond investors earn over 10 years in interest! Illustrates just how big a con bonds are! Another notable was WDC which put in it's first profit in 18 months, though of course the stock market DISCOUNTED this happening and hence fell, still it acts to reinforce a bullish trend regardless of what it does over the next few weeks so I will definitely be adding to WDC on any dip.

INTEL did not fail to disappoint, this stock is more Zombie than Sleeper. I am going to have to bite the bullet and relegate this FAKE AI stock to Medium risk so will seek the next FOMO above $40 to $50+ to reduce exposure by about half of current exposure. It's still got potential but the company is dysfunctional.

AI Portfolio - EGF's updated for most reported stocks.

New Spreadsheet link - **** PATRONS ONLY ****
(Old sheet archived)

Stocks in / near their buying zones - AMD, Tesla, ASML, IBM, Apple, BHP, ALB, SLB, GPN, JBL, ON, ADSK, GFS, LOG, ABBV, FOR, RDFN, BDEV, MGNI, U, SYNA. META should pop under $400 during the correction.

Of the AI stocks I am eyeing adding to META, IBM, LRCX, NVDA, and ASML

Notable Earnings this week -

AMD 30th April - $157 - Already 32% off it's high so downside looks limited, should see an earnings beat but still could see AMD dip down to $140.

Amazon 30th April - $184 - Strong EGF's, has the potential to do a Google and pop higher to a new all time high, also targeting $200.

QCOM 1st May - $166 - Strong EGF's could see QCOM pop higher.

APPLE 2nd May - $169 - Stable EGF's suggest an earnings beat, though I don't expect much reaction in the stock price, so will likely drift lower.

The bottom line is that S&P downtrend should resume which will drag most stocks lower, trending lower into the 2nd half of May that that fits well with when Nvidia reports earnings on 22nd May. which given the EGF's should be a strong BEAT, hence I have been accumulating Nvidia, now 7% invested of target.

Bitcorn - Focus on $100k+ 6 months from, now.

Next article underway - "Interest Rate Cuts, Be Careful what you wish for, Recession 2025!"

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Latest analysis - Stocks Correct into Bitcoin Happy Thanks Halving - Earnings Season Buying Opps

The smoke in mirrors drama in the middle east delivering buying opportunities in target stocks,

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By Nadeem Walayat

http://www.marketoracle.co.uk

Nadeem Walayat has over 35 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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