SPDR S&P 500 ETF Trust ( $SPY ) has fallen by 1.81% in the past week. It has experienced a 5-day net inflow of $11 billion.
This is due, in part, to market sentiment on some of the ETF’s largest holdings. For example:
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- Nvidia Corporation has been experiencing strong demand for its new Blackwell chips, as highlighted by CEO Jensen Huang. These chips are central to the AI boom, used in data centers and for training large language models. Nvidia’s partnerships with major chipmakers like TSMC and SK Hynix are crucial to meeting this demand. However, due to export restrictions, Nvidia is not currently selling these chips to China. Analysts maintain a strong buy consensus on Nvidia stock, with a significant upside potential, reflecting confidence in the company’s growth trajectory.
- Apple Inc has seen a significant boost in its stock, driven by the strong performance of the iPhone 17, particularly in India and China. The company’s fiscal year ended on a high note, with an 8% increase in revenue and a 13% rise in earnings per share. Apple’s services segment continues to grow, contributing to its impressive gross margins. Despite its premium valuation, analysts maintain a moderate buy consensus, with expectations of continued growth into the holiday season.
- Microsoft is making strides in AI, focusing on developing specialized systems for tasks like medical diagnoses. Despite a slight dip in stock prices, analysts remain optimistic about Microsoft’s future, with a strong buy consensus and a significant upside potential. The company is also collaborating with Boeing to enhance flight training using Microsoft Azure and Flight Simulator, showcasing its diverse applications of technology beyond traditional software.