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Stock impact report

Goldman Sachs says to buy the dip in AI [Fortune]

NVIDIA Corporation (NVDA) 
Last nvidia corporation earnings: 2/13 04:20 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.nvidia.com/home/default.aspx
Company Research Source: Fortune
“We expect lower interest rates could support IT projects, economic policy to become less uncertain after the election, and tangible progress with AI products to be presented in upcoming conferences,” Faris Mourad, vice president of Goldman's US custom baskets team, wrote in a note to clients on Thursday. Goldman's Broad AI basket — which includes companies like Nvidia Corp., Microsoft Corp., Apple Inc., Alphabet Inc., Amazon .com Inc., Meta Platforms Inc. and Oracle Corp. is down 11% from its 2024 high reached on July 10. The weakness goes beyond the selloff in Magnificent 7 stocks. Earlier this year, Goldman launched two baskets focused on booming demand for data centers and power to drive AI development. But since mid-July, the AI data centers basket is down 8%, and the Power Up America basket has lost 5%. Traders' expectations for a half-point interest-rate cut from the Federal Reserve at its meeting concluding Wednesday has fueled a rotation from megacap technology stocks in Show less Read more
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