Nvidia's Stock Skyrockets Again 📈

Did you know that Nvidia's GPUs are used in over 70% of the world's top 500 supercomputers, making them crucial for AI advancements?

Did you know that Nvidia's GPUs are used in over 70% of the world's top 500 supercomputers, making them crucial for AI advancements?

Investing in technology leaders can provide long-term growth opportunities as they drive innovation in emerging fields.

In this edition, we focus on three major stories:

  • The Nvidia Moon Shot Continues: Firsty, Nvidia's stock is on an upward trajectory, buoyed by bullish analysts and massive infrastructure spending on AI technology 🚀

  • Apple Is Back: Next, Apple stock hits new highs, driven by its AI strategy and the potential for increased iPhone sales overseas 💪

  • Dollar Strength Persists: Finally, amid predictions of its decline, the US dollar remains the world's most reliable currency 💵

Stay tuned as we explore these developments in the stock market, giving you insights and analysis to help you understand the financial landscape. Are you ready?

The Nvidia Moon Shot Continues 🚀

Nvidia stock continues to push higher as chip stocks in general continue to lead the overall stock market higher.

Bullish analysts and further signs of huge spending on infrastructure to support artificial-intelligence technology are helping shares move higher.

After a brief fall into correction territory late last month, Nvidia looks to be heading up again and threatening its record closing high of $135.58, once adjusted for its recent 10-for-1 stock split.

Nvidia got another boost from Wall Street as KeyBanc analyst John Vinh raised his price target to $180 from $130 while keeping an Overweight rating on the stock.

The new target is 33% higher than the stock’s recent price 📈

Vinh was the seventh analyst to raise Nvidia’s target in July, according to FactSet, though the average price target remains at $130.92, below where Nvidia is currently trading.

Expect more target increases in the future 📅

Nvidia shares have risen 159% this year through to Monday’s close.

Apple Is Back 💪

Apple stock is once again making new highs building on a run triggered by its long-awaited AI strategy and hopes of more iPhone sales overseas.

Since early April, shares have soared more than 30%, compared with a roughly 5% jump from the S&P 500, with a big help from the unveiling of the company’s Apple Intelligence strategy in June as well as the possibility of better iPhone sales in China.

The excitement is warranted, as AI could be a needle mover for upgrades 🤖

In addition, a return to growth in iPhone sales in China could create a tailwind as well in the second half of the year.

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Dollar Strength Persists 💵

Despite all the dire predictions of the collapse of the US dollar, the dollar continues to be strong and the most dependable currency in the world, with no rival on the horizon.

For those who have argued that Bitcoin or any other crypto currency would replace the dollar, there is not even the slightest hint of evidence that such a scenario is plausible.

Nobody transacts in crypto for regular transactions.

Crypto remains highly volatile with 5% daily swings in its value, a normal occurrence.

Crypto is a speculative asset, not a currency.

And there is no other currency on the planet where anyone feels more secure than the US dollar ⛰️

This isn’t changing.

Inner Circle Global Macro Update 🔍

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