Wall Street ended sharply higher on Friday, pulled up by mega-cap tech stocks. Investor mood was generally upbeat on closing out a strong quarter and the first half of the year. All three major indexes ended in the green.
The broader equity market has witnessed a steady uptrend over the past few trading days on solid economic data that allayed the fears of recession from the near-term horizon to at least until 2024. The revised GDP data for first-q
Whether you're a professional stock trader or take a more casual approach to investing, chances are you know 2023 has been all about artificial intelligence (AI).
For Immediate ReleaseChicago, IL – July 3, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financ
It makes sense that Nvidia (NASDAQ: NVDA) has been a Wall Street darling. The demand for its graphics processing units (GPUs) has surged over the last decade. Gaming fueled Nvidia's fortunes first, but in recent months artificial intelligence (AI) has been the primary driver.
The
SPDR S&P 500 ETF Trust (
SPY
) closely tracks the S&P 500 Index (
SPX
) and allows an investor to hold a diversified portfolio of over 500 large-cap U.S. stocks without having to buy them individually. The SPY ETF stock has advanced over 17.3% year-to-date, outperforming the S&P 500’s rally of 16.4%. Interestingly, the SPY ETF’s Outperform Smart Score on TipRanks and analysts’ average price target suggest further upside potential from the current level.
What Makes SPY ETF Attractive?
One of the major factors worth considering is the SPY ETF’s considerably low fees. It has an expense ratio (the cost of managing the ETF) of 0.09%, which makes it an attractive investment.
Remarkably, the ETF has delivered an average annualized return of 12.1% in the past decade as of March 2023. Moreover,
SPY pays a 1.47% annual dividend yield, which enhances investors’ returns over the long run.
Lastly, the diversification offered by the ETF allows investors convenient access to the stock market. Also, it eliminates the need for individual stock research, analysis, and portfolio management.
Favorable Smart Score
According to TipRanks’ Smart Score System,
SPY has a Smart Score of 8 out of 10, which indicates that the ETF could outperform the broader market over the long term. It is worth highlighting that more than 50% of the holdings boast an Outperform
Smart Score (i.e., a score of 8 or higher).
The stock has a
Positive signal from retail investors. Our data shows that about 8.3% of TipRank’s retail investors changed their holdings of the SPY in the last 30 days. Moreover, The SPY ETF enjoys bullish blogger sentiment and Positive news sentiment on TipRanks.
Is SPY Stock a Buy, According to Analysts?
SPY has a Moderate Buy consensus rating on TipRanks. Further, the
average SPY stock price target of $482.85 implies 8.9% upside potential. Among the 6,340 analysts providing ratings on its
504 holdings, 59.67% have given a Buy rating, 34.94% have assigned a Hold rating, and 5.39% have given a Sell rating.
Several of the SPY ETF’s holdings have witnessed strong returns over the past year. Among these, the following 10 stocks are key winners, as they gained over 90%. Importantly, analysts see further upside potential in most of these stocks.
Royal Caribbean Cruises (
RCL
)
Nvidia Corporation (
NVDA
)
First Solar (
FSLR
)
Netflix, Inc. (
NFLX
)
General Electric (
GE
)
Carnival Corporation (
CCL
)
Axon Enterprise, Inc. (
AXON
)
ON Semiconductor Corporation (
ON
)
Fair Isaac Corporation (
FICO
)
Norwegian Cruise Line (
NCLH
)
Disclosure
Apple Inc become the first company in the world to reach a market value of $3 trillion, buoyed by hopes over its expansion in new markets coupled with expectations of a more moderate approach to interest rate hikes by the Federal Reserve.
Nvidia (NASDAQ: NVDA) and Wolfspeed (NYSE: WOLF) are both chipmakers that carved out high-growth niches with their unique business strategies. Nvidia is the world's largest producer of discrete graphics processing units (GPUs) for high-end video games and data centers. Its data c
Below is Validea's guru fundamental report for NVIDIA CORP (NVDA). Of the 22 guru strategies we follow, NVDA rates highest using our Quantitative Momentum Investor model based on the published strategy of Wesley Gray. This momentum model looks for stocks with strong and consiste
A U.S. stocks rally is cruising into a month that has proven strong in recent years, though equities must navigate employment data and an earnings season that could be precarious, with the Federal Reserve bent on raising U.S. interest rates.
Micron Technology (NASDAQ: MU) is one of only three companies that makes both DRAM and NAND flash memory chips, which will be key components of any artificial intelligence system.
What I love most about investing (besides making money, of course) is its dynamic nature. The market is ever-changing, and investors always have something to debate. Just a few months ago, the talk was all about a possible recession (and there is still a chance we will see one).
While demand for GPUs aimed at training artificial-intelligence (AI) models is soaring, a very different story is playing out in the gaming GPU market. A tough economic environment is impacting consumers, and the pandemic-era boom in PC sales has given way to a bust.
We know Nvidia (NASDAQ: NVDA) is an AI leader. So is Microsoft (NASDAQ: MSFT) and, to some degree, Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL). Beyond these and a few more core companies, picking winners gets harder. In this video, Motley Fool contributors Jason Hall and Tyler Crowe s
During the bull run of 2020 and early 2021, it was easy to be a stock picker as it seemed like everything was going up. However, the bear market that followed brought many investors back down to Earth and demonstrated that longer-term success requires a more discerning stock-pick
In this podcast, Motley Fool hosts Mary Long and Ricky Mulvey revisit Peter Lynch's investing classic, One Up on Wall Street: How to Use What You Already Know to Make Money in the Market.
Advanced Micro Devices (
NASDAQ:AMD
) stock is a beneficiary of the jump in demand for chips that drive
AI (Artificial Intelligence) applications. Thanks to the growing enterprise applications of generative AI and investors’ positive outlook, AMD stock has risen nearly 74% year-to-date. While the stock has appreciated quite a lot, the consensus price target from analysts suggests that AMD stock could extend gains in the coming days.
AI Opportunity Could Push AMD Stock Higher
Nvidia (
NASDAQ:NVDA
), with its flagship Hopper and Ampere architecture GPUs (Graphics Processing Units), continues to dominate the AI space. However, AMD, with its innovative products, including the recently announced MI300X GPU for AI, could meet the growing demand for AI applications.
On June 16,
Morgan Stanley analyst Joseph Moore raised AMD’s price target to $138 from $97 and reiterated the Buy recommendation on the stock. While Moore places Nvidia as the “Top Pick” in the
semiconductor sector, the analyst sees significant AI-led growth opportunities for AMD in 2024.
Speaking about AMD’s new dedicated generative AI product,
Goldman Sachs analyst Toshiya Hari said that he is waiting for “tangible evidence of customer design wins with MI300A and/or MI300X.” The analyst added that “AMD’s efforts in providing a GPU-only solution that is comparable to that of Nvidia provides a minimum, some optionality for customers.”
In a note dated June 14, Hari maintained his Buy recommendation on AMD stock and increased the price target to $137 from $97.
What is AMD's Price Target?
AMD is expected to benefit from meaningful AI revenue starting in the fourth quarter of this year. Also, it is likely to benefit from its Zen 4 EPYC CPU portfolio. However, near-term macro uncertainty keeps analysts cautiously optimistic about its prospects.
AMD stock has received 21 Buy and eight Hold recommendations for a Moderate Buy consensus rating. These analysts’ average price target of $134.31 implies 20.74% upside potential from current levels.
Investors should note that
Matt Ramsay of TD Cowen is the most accurate analyst for AMD stock, according to TipRanks. Copying Ramsay’s trades on AMD stock and holding each position for one year could result in 86% of your transactions generating a profit, with an average return of 58.5% per trade.
Disclosure
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