NVDA

Short interest for NVIDIA gives investors a sense of the degree to which investors are betting on the decline of NVIDIA's stock. Short interest data is updated every two weeks.

NVIDIA Stock (NASDAQ:NVDA), Short Interest Report

NVIDIA

Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs. GPU use cases have since emerged as important semiconductors used in artificial intelligence. Nvidia not only offers AI GPUs, but also a software platform, Cuda, used for AI model development and training. Nvidia is also expanding its data center networking solutions, helping to tie GPUs together to handle complex workloads.

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SMCI

XMMO

Wedbush analyst maintains Super Micro Computer Inc with Neutral rating and raises price target from $530 to $800, citing sales momentum and concerns about margins and competition in AI server market.

Super Micro Updates Fiscal Guidance As Nvidia Shifts, 4 Analysts Provide Perspectives

Tel,Aviv,,Israel,-,March,30,,2016:,Intel,Logo,On

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Intel is attracting attention from Reddit&#39;s ValueInvesting community for its potential turnaround and long-term growth. With a favorable market cap compared to competitors and investments in cutting-edge technologies, investors see opportunity for substantial returns.

Intel Gains Favor With Redditors Over Nvidia, AMD As &#39;High Uncertainty, Low Risk&#39; Stock Play

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ETF Opportunities Trust T-Rex 2X Long NVIDIA Daily Target ETF

NVDX

CoreWeave, a cloud-computing firm backed by NVIDIA, has secured $1.1 billion in new funding, led by Coatue, with participation from Magnetar, who led the last primary round, as well as Altimeter Capital, Fidelity Management &amp; Research Company, and Lykos Global Management.

Nvidia Backed AI Start-Up CoreWeave Lands New $1.1B Funding - What&#39;s On The Cards?

NVIDIA Corp

Wedbush analyst Matt Bryson maintained Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) with a Neutral rating and raised the <a href="https://www.benzinga.com/quote/SMCI/analyst-ratings" target="_blank" rel="noreferrer noopener">price target from $530 to $800</a>.
Bryson noted that Supermicro <a href="https://www.benzinga.com/news/earnings/24/04/38535630/super-micro-shares-dip-on-mixed-q3-results-eps-beat-sales-miss" target="_blank" rel="noreferrer noopener">guided revenues for</a> the year meaningfully higher, suggesting sales momentum is only accelerating into the fiscal fourth quarter. At the same time, the midpoint of management&#8217;s guidance implicitly suggests gross margin deterioration of ~200 bps and an operating margin decline of ~100 bps. 
The expected dip in margins, in turn, necessarily caters to concerns about how competition might weigh on SMCI&#8217;s ability to translate <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38413805/ai-server-market-is-expanding-rapidly-analysts-highlight-super-micro-computers-impo" target="_blank" rel="noreferrer noopener">AI-related server growth</a> into profit, both in the current quarter and moving forward, the analyst said. The result mirrors the dichotomy that has kept him on the sidelines regarding SMCI over the past 12 months. 
SMCI has successfully changed its narrative from&nbsp;that of&nbsp;a scrappy underdog supplying customers with cheaper and more customized solutions to&nbsp;the&nbsp;leading OEM of AI servers.
SMCI sales momentum is unlikely to diminish over the next few quarters as Nvidia Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) offerings transition to H200 and Blackwell. However, the analyst continues to see the server market as competitive.
Bryson projected fourth-quarter revenue of $5.30 billion (prior $4.81 billion) and EPS of $8.09 (prior $7.04).
BofA Securities analyst Ruplu Bhattacharya reiterated a Buy rating on SMCI with a price target of $1,090.
Super Micro reported fiscal third-quarter revenue slightly below consensus. The analyst noted that the small topline miss&nbsp;was driven&nbsp;by a lack of component availability late in the quarter.&nbsp;
Bhattacharya&#8217;s bullish thesis remains intact, as the company is expected to significantly exceed consensus forecasts for the June quarter. SMCI is on course to achieve production of over 2,000 direct-to-chip (DTC) liquid-cooled racks monthly by quarter&#8217;s end, and the introduction of GB200 solutions in fiscal 2025 is anticipated to increase the average selling price per system.
SMCI is also poised to expand its market by serving additional chip vendors beyond Nvidia. The company continues to see strong demand from Tier-2 CSPs and enterprises and is positioned to capitalize on upcoming sovereign AI demand.
Super Micro remains a pure-play AI server vendor, and Bhattacharya expects continued positive estimate revisions in the long term.
Bhattacharya projected fourth-quarter revenue of $5.30 billion and EPS of $8.10.
Goldman Sachs analyst Michael Ng reiterated a Neutral rating on SMCI with a price target of $800, down from the prior $937.
Ng&#8217;s price target cut reflects increasing uncertainty around SMCI&#8217;s AI server market share.
SMCI&#8217;s fiscal third-quarter results were&nbsp;largely&nbsp;as expected, with revenue of $3.85 billion (v. consensus of $3.96 billion), gross profit of $601 million (v. consensus of $593 million), and increased fiscal 2024 revenue guidance to $14.7 billion—$15.1 billion, which implies $5.1 billion—$5.5 billion for the fiscal fourth-quarter, Ng noted.&nbsp;
While the potential margin dilutive impact from AI server sales and competition is a concern, SMCI reiterated its long-term 14% &#8211; 17% gross margin target. Ng noted that elevated product costs from liquid cooling should normalize over time. Separately, SMCI said it could need additional capital to support growth.
Encouragingly, demand appears strong, as evidenced by SMCI achieving a record backlog, Ng added.
Ng projected fourth-quarter revenue of $5.27 billion and EPS of $8.08.
JP Morgan analyst Samik Chatterjee reiterated an Overweight rating on SMCI with a price target of $1,150.
Chatterjee identified two main concerns reflected in the company&#8217;s share price. Firstly, there are worries about gross margins. The company predicts these will be within the long-term range of 14%-17% for the fiscal fourth quarter. 
However, the guidance suggests that margins will be at the lower end of this range, which follows a gross margin of 15.6% in the fiscal third quarter. This raises concerns about the company&#8217;s willingness to sacrifice margins to pursue revenue growth.
Secondly, there&#8217;s the issue of potential capital raises. While the company has stated it has sufficient capital to manage growth of 20%-30%, achieving higher growth rates as projected will require additional capital. This is necessary to meet the inventory requirements for reliably servicing customers.
With demand continuing strong, investors are now grappling with the challenge of how further capital raises might dilute earnings.
Chatterjee projected fourth-quarter revenue of $5.30 billion and EPS of $8.11.
Super Micro Computer&nbsp;stock gained 591% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Invesco S&amp;P MidCap Momentum ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XMMO#NYSE">XMMO</a>) and&nbsp;IShares U.S. Digital Infrastructure And Real Estate ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>).
Price Action: SMCI shares were down 11.8% at $757.01 at last check Wednesday.
Now Read: <a href="https://www.benzinga.com/news/econ-s/24/05/38561640/fed-keeps-interest-rates-steady-announces-slower-than-expected-pace-of-balance-sheet-runoff">Fed Keeps Interest Rates Steady, Announces Slower-Than-Expected Pace Of Balance Sheet Runoff</a>
Photo: Shutterstock

Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), a tech giant often overshadowed by competitors, is sparking discussions among <a href="https://www.benzinga.com/topic/reddit">Reddit&#8217;s ValueInvesting community</a>.
Despite recent setbacks, including declining revenue and earnings, investors are intrigued by Intel&#8217;s potential for a turnaround and long-term growth.
One Redditor highlighted Intel&#8217;s <a href="https://www.reddit.com/r/ValueInvesting/comments/1cg0uao/intel_go_ahead_roll_your_eyes/?sort=confidence">favorable market cap</a> compared to key competitors like Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Taiwan Semiconductor Manufacturing Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), and Samsung.
Also Read:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38355764/intels-inventory-issues-redditors-highlight-how-overstock-killed-their-margins-yet-"> Intel&#8217;s Inventory Issues: Redditors Highlight How Overstock &#8216;Killed Their Margins,&#8217; Yet Analysts See Upside</a>
<h1 class="wp-block-heading">Redditors See Intel As Undervalued</h1>
With a market cap of approximately $130 billion, Intel is seen as undervalued, especially when considering its potential upside. If Intel can execute its plans under CEO Pat Gelsinger and become the second-largest chip manufacturer behind TSMC, there could be significant upside for investors.
The current price presents a reasonable expectation of preserving investment with a solid chance of substantial returns if Intel&#8217;s plans materialize.
<blockquote class="wp-block-quote">&#8220;In my opinion, this is a good play. It&#8217;s a Monish Pabrai &#8220;High uncertainty, low risk&#8221; type play.&#8221;
<cite>One Redditor <a href="https://www.reddit.com/r/ValueInvesting/comments/1cg0uao/comment/l1t5t8o/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button">commented</a></cite></blockquote>
<blockquote class="wp-block-quote">&#8220;Sum of parts valuation for INTC is 50+ People forget the foundry business and focus only on chip design.&#8221;
<cite>Another Redditor <a href="https://www.reddit.com/r/ValueInvesting/comments/1cg0uao/comment/l1uznic/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button">commented</a></cite></blockquote>
<h1 class="wp-block-heading">Intel&#8217;s Investments Into Cutting-Edge Technologies</h1>
Another key point of discussion was Intel&#8217;s increased focus on research and development (R&amp;D). 
Intel&#8217;s role in developing technologies used by competitors like TSMC and AMD is noteworthy. The company has the first EUV scanner and is working on processes that could take chip technology below 1nm. 
This indicates Intel has the potential to lead the industry in the coming years. Despite past missteps, Intel is investing heavily in cutting-edge technologies like High NA EUV and backside power delivery. These innovations could position Intel as a leader in the chip industry once again.
<blockquote class="wp-block-quote">&#8220;Intel will be the first to rollout High NA EUV. Theyre going to be the first to do backside power delivery.&#8221;
<cite>&#8211;<a href="https://www.reddit.com/r/ValueInvesting/comments/1cg0uao/intel_go_ahead_roll_your_eyes/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button">said</a> one Redditor</cite></blockquote>
<blockquote class="wp-block-quote">&#8220;Intel has the first EUV scanner and are developing the processes that will take us sub 1nm. They are the easiest play if you want to get rich over the next 15 years.&#8221;
<cite>&#8211;<a href="https://www.reddit.com/r/ValueInvesting/comments/1cg0uao/comment/l1w0jca/?utm_source=share&amp;utm_medium=web3x&amp;utm_name=web3xcss&amp;utm_term=1&amp;utm_content=share_button">said</a> another Redditor</cite></blockquote>
<h1 class="wp-block-heading">Intel Stock&#8217;s Current Low Valuation May Be Unwarranted</h1>
While some investors remain cautious, citing Intel&#8217;s history of failed turnarounds, others see the current price as a buying opportunity. Intel&#8217;s fundamentals and turnaround plan remain unchanged, suggesting that the stock&#8217;s current low valuation may be unwarranted.
Intel&#8217;s stock is a compelling opportunity for investors seeking long-term growth. While risks remain, including the company&#8217;s track record and the broader market environment, many Reddit investors see Intel as a high-potential, low-risk investment.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38468834/intel-still-a-work-in-progress-as-turnaround-efforts-take-root-analysts-say-after-q">Intel &#8216;Still A Work In Progress&#8217; As &#8216;Turnaround Efforts Take Root,&#8217; Analysts Say After Q1 Disappointment</a>
Photo: Shutterstock

Intel Gains Favor With Redditors Over Nvidia, AMD As 'High Uncertainty, Low Risk' Stock Play

CoreWeave, a cloud-computing firm backed by&nbsp;NVIDIA Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), has&nbsp;<a target="_blank" href="https://www.prnewswire.com/news-releases/coreweave-secures-1-1-billion-in-series-c-funding-to-drive-the-next-generation-of-cloud-computing-for-the-future-of-ai-302133328.html" rel="noreferrer noopener">secured&nbsp;</a>$1.1 billion&nbsp;in new funding, led by Coatue, with participation from Magnetar, who led the last primary round, as well as Altimeter Capital, Fidelity Management &amp; Research Company, and Lykos Global Management.
The New Jersey-based company expects to use the new funding to support&nbsp;the&nbsp;growth across all areas of its business,&nbsp;and&nbsp;expansion&nbsp;into new geographic regions.
The substantial funding values CoreWeave at $19 billion, signaling strong demand for AI computation, <a href="https://www.wsj.com/tech/ai/ai-cloud-computing-startup-coreweave-valued-at-19-billion-in-new-funding-round-dfdb47cd?mod=lead_feature_below_a_pos1" target="_blank" rel="noreferrer noopener">reported </a>The Wall Street Journal.
Also Read: <a href="https://www.benzinga.com/news/24/04/38510989/nvidia-ceo-jensen-huang-predicts-ai-will-make-companies-hire-more-workers-with-higher-earnings-there" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Predicts AI Will Make Companies Hire More Workers With Higher Earnings</a>
The report noted that the company, specializing in AI-tailored cloud-computing, distinguishes itself from tech giants like&nbsp;Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and&nbsp;Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), focusing solely on AI-related services.
&#8220;CoreWeave continues to push forward as a provider of critical infrastructure in the development of AI, and the high caliber of investors who continue putting their trust in us validates the enormous opportunity we have to define the next generation of cloud computing,&#8221; said&nbsp;Mike Intrator, co-founder and CEO of CoreWeave.
In December 2023, CoreWeave&nbsp;closed a secondary investment of&nbsp;$642 million, following a&nbsp;$420 million&nbsp;primary led by Magnetar in&nbsp;April 2023.
In August 2023, CoreWeave secured a $2.3 billion debt financing facility. Also, CoreWeave increased its data center presence in the last year from three to 14 and quadrupled its employee headcount.
NVIDIA stock has gained more than 186% in the last 12 months. Investors can gain exposure to the stock via&nbsp;T-Rex 2X Long NVIDIA Daily Target ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/NVDX#BATS">NVDX</a>) and&nbsp;ProShares Ultra Semiconductors&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USD#NYSE">USD</a>).
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38481188/this-nvidia-partner-and-bitcoin-miner-stock-could-surge-by-50-say-analysts" rel="noreferrer noopener">This Nvidia Partner And Bitcoin Miner Stock Could Surge By 50%, Say&nbsp;Analysts</a>
Price Action: NVDA shares are trading lower by 4.34% at $826.48 at&nbsp;the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Nvidia Backed AI Start-Up CoreWeave Lands New $1.1B Funding - What's On The Cards?

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$800.00</td>
<td>$387.1K</td>
<td>11.2K</td>
<td>44.8K</td>
</tr>
<tr>
<td>AAPL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$170.00</td>
<td>$32.7K</td>
<td>15.8K</td>
<td>10.2K</td>
</tr>
<tr>
<td>MU</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/10/24</td>
<td>$115.00</td>
<td>$38.5K</td>
<td>2.6K</td>
<td>3.9K</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/03/24</td>
<td>$690.00</td>
<td>$48.2K</td>
<td>315</td>
<td>1.8K</td>
</tr>
<tr>
<td>FSLY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$12.50</td>
<td>$317.5K</td>
<td>5.6K</td>
<td>1.2K</td>
</tr>
<tr>
<td>WOLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/21/24</td>
<td>$22.50</td>
<td>$27.0K</td>
<td>5.7K</td>
<td>910</td>
</tr>
<tr>
<td>SWKS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$105.00</td>
<td>$74.0K</td>
<td>1.8K</td>
<td>856</td>
</tr>
<tr>
<td>MRVL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$55.00</td>
<td>$288.0K</td>
<td>1.3K</td>
<td>500</td>
</tr>
<tr>
<td>TSM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$135.00</td>
<td>$66.2K</td>
<td>4.1K</td>
<td>434</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$160.00</td>
<td>$110.7K</td>
<td>6.6K</td>
<td>323</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a put option sweep that happens to be bullish, expiring in 2 day(s) on May 3, 2024. This event was a transfer of 561 contract(s) at a $800.00 strike. This particular put needed to be split into 58 different trades to become filled. The total cost received by the writing party (or parties) was $387.1K, with a price of $690.0 per contract. There were 11293 open contracts at this strike prior to today, and today 44888 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a put option sweep with bullish sentiment. It expires in 2 day(s) on May 3, 2024. Parties traded 116 contract(s) at a $170.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $32.7K, with a price of $282.0 per contract. There were 15840 open contracts at this strike prior to today, and today 10256 contract(s) were bought and sold. 
• For MU (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>), we notice a call option trade that happens to be bullish, expiring in 9 day(s) on May 10, 2024. This event was a transfer of 335 contract(s) at a $115.00 strike. The total cost received by the writing party (or parties) was $38.5K, with a price of $115.0 per contract. There were 2691 open contracts at this strike prior to today, and today 3908 contract(s) were bought and sold. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a put option sweep with neutral sentiment. It expires in 2 day(s) on May 3, 2024. Parties traded 80 contract(s) at a $690.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $48.2K, with a price of $611.0 per contract. There were 315 open contracts at this strike prior to today, and today 1878 contract(s) were bought and sold. 
• For FSLY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSLY#NYSE">FSLY</a>), we notice a put option trade that happens to be bearish, expiring in 261 day(s) on January 17, 2025. This event was a transfer of 1250 contract(s) at a $12.50 strike. The total cost received by the writing party (or parties) was $317.5K, with a price of $254.0 per contract. There were 5679 open contracts at this strike prior to today, and today 1250 contract(s) were bought and sold. 
• Regarding WOLF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), we observe a put option sweep with bearish sentiment. It expires in 51 day(s) on June 21, 2024. Parties traded 169 contract(s) at a $22.50 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $27.0K, with a price of $160.0 per contract. There were 5735 open contracts at this strike prior to today, and today 910 contract(s) were bought and sold. 
• Regarding SWKS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>), we observe a put option trade with bullish sentiment. It expires in 16 day(s) on May 17, 2024. Parties traded 50 contract(s) at a $105.00 strike. The total cost received by the writing party (or parties) was $74.0K, with a price of $1480.0 per contract. There were 1890 open contracts at this strike prior to today, and today 856 contract(s) were bought and sold. 
• For MRVL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), we notice a put option trade that happens to be bearish, expiring in 324 day(s) on March 21, 2025. This event was a transfer of 500 contract(s) at a $55.00 strike. The total cost received by the writing party (or parties) was $288.0K, with a price of $576.0 per contract. There were 1305 open contracts at this strike prior to today, and today 500 contract(s) were bought and sold. 
• Regarding TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we observe a put option trade with bullish sentiment. It expires in 16 day(s) on May 17, 2024. Parties traded 169 contract(s) at a $135.00 strike. The total cost received by the writing party (or parties) was $66.2K, with a price of $392.0 per contract. There were 4141 open contracts at this strike prior to today, and today 434 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a call option trade that happens to be bearish, expiring in 261 day(s) on January 17, 2025. This event was a transfer of 60 contract(s) at a $160.00 strike. The total cost received by the writing party (or parties) was $110.7K, with a price of $1845.0 per contract. There were 6628 open contracts at this strike prior to today, and today 323 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AAPL

FSLY

MRVL

SWKS

WOLF

10 Information Technology Stocks With Whale Alerts In Today's Session

Traders are treading cautiously in Wednesday&#8217;s session, seeking more clarity on the Federal Reserve&#8217;s stance with <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">inflation reports exceeding expectations. </a>
The forthcoming Federal Open Market Committee statement is anticipated to maintain interest rates where they are and possibly unveil a reduction in the Fed&#8217;s balance sheet runoff from $60 billion to $30 billion monthly. Fed Chair Jerome Powell&#8216;s press conference is at 2:30 p.m. ET.
The S&amp;P 500 inched 0.2% lower, while the tech-heavy Nasdaq 100 underperformed, down 0.6%. Blue chips managed to avoid losses and showcased a 0.3% rise. 
Aside from Fed policy, earnings remain a key driver of market sentiment, particularly as chipmaker Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) offered less optimistic second-quarter guidance than expected. This news led to a nearly 10% drop in its share price. In sympathy, the broader industry saw a decline, with heavyweight Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) also experiencing a more than 5% decrease in its shares.
Data-wise, the ADP National Employment Report revealed a stronger-than-expected private jobs addition in April, ahead of the highly awaited official jobs report on Friday. The ISM Manufacturing Index surprisingly fell back into contraction territory, missing expectations. 
Sentiment on the cryptocurrency market continued to remain fragile, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) sinking over 5%, on track for a two-day, 10% slump, the worst since November 2022. 
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>37,940.89</td>
<td>0.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1,972.88</td>
<td>0.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,024.25</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,334.25</td>
<td>-0.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:28 p.m. EDT</figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.2% to $501.04, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) rose 0.3% to $379.38 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.6% to $422.21, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 1.2%, followed by the Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>), up 1.1%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was the major laggard, down 1.6%.
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) plummeted over 16% in reaction to its earnings report. </li>
<li>Other companies reacting to earnings were Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), up 1.2%, Stryker Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIK#NYSE">SIK</a>), Mondelez International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NYSE">MDLZ</a>) down 1.6%, Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) down 1%, Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), The Estee Lauder Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), down 13%, Pinterest Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NASDAQ">PINS</a>) up nearly 20%, New York Community Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) up over 30% and Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>) down nearly 14%.</li>
<li>Notable names reporting after the close are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>).</li>
</ul>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38557569/april-jobs-report-preview-bank-of-america-anticipates-solid-payrolls-growth-risin">April Jobs Report Preview: Bank Of America Anticipates Solid Payrolls Growth, Rising Wage Pressures</a>
Illustration created using artificial intelligence via MidJourney.

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US Stocks Mixed Ahead Of Fed Meeting, Chipmakers Tumble After AMD Earnings, Bitcoin Sinks: What's Driving Markets Wednesday?

Semiconductor giant Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) reported first-quarter revenue and earnings Tuesday that <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">beat analyst estimates</a>. 
Here is how Wall Street analysts are reacting to the results and updated guidance.
The AMD Analysts: Cantor Fitzgerlad analyst C.J. Muse has an Overweight rating and lowered the price target from $190 to $170.
Mizuho analyst Vijay Rakesh has a Buy rating and lowered the price target from $235 to $215.
Piper Sandler analyst Harsh Kumar has an Overweight rating and lowered the price target from $195 to $175.
Goldman Sachs analyst Toshiya Hari has a Buy rating and lowered the price target from $180 to $175.
KeyBanc analyst John Vinh has an Overweight rating and lowered the price target from $270 to $230.
Wedbush analyst Matt Bryson has an Outperform rating and price target of $200.
Truist analyst William Stein has a Hold rating and lowered the price target from $174 to $162.
Roth MKM analyst Suji Desilva has a Buy rating and lowered the price target from $190 to $180.
Cantor Fitzgerald On AMD: AMD&#8217;s share momentum could be hit by capped earnings leverage, Muse said after the first quarter report.
"The MI300 ramp is truly impressive, but supply constraints are limiting a vision for even greater upside where many investors have been discussing much higher #s up until recently," the analyst said. 
Muse also cautioned on gaming segment weakness that could offset growth in other areas.
"Add it all up, and it now appears CY24/25 revenues are tracking to $25.5B/$30.5B – for solid growth of 13%/20%, but below consensus coming in at $25.8B/$32.4B."
The analyst said the "2025 and beyond story remains intact" with artificial intelligence a key opportunity for AMD — the No. 2 merchant AI supplier behind NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Mizuho On AMD: The outlook for AMD&#8217;s artificial intelligence segment is below expectations, said analyst Rakesh.
"AMD guided 2024 AI GPU revenue to >$4B, slightly below optimistic Street expectations of $6-$10B, but also noting ‘not supply limited and 2H-weighted," the analyst said. 
The analyst said there is a concern that aggressive pricing from Nvidia and good lead times could hurt AMD.
"Overall, we believe AI demand remains strong and AMD provides a strong second-source supplier (with key customers GOOGL, META, ORCL, Corewave, TSLA)."
Piper Sandler On AMD: AMD&#8217;s gaming and embedded segments struggled in the first quarter and were key headwinds, Kumar said.
"That said, the parts of the business that matter in our view, namely MI300 and the server business, did exceedingly well and continue to get better," the analyst said. 
MI300 demand is set to exceed supply, with supply ramping up in each quarter of 2024, Kumar said. 
"We feel AMD continues to deliver on its core businesses that investors care about with headwinds from non-core pieces."
Goldman Sachs On AMD: The company's data center GPU growth and server CPU share gains were highlights in the first quarter, according to Hari.
"While the positive revision to AMD's 2024 Data Center GPU revenue outlook to $4.0 billion may have underwhelmed the most bullish of investor expectations, we continue to believe that the company is making the appropriate investments and has the long-term product roadmap in place to benefit from growth in AI infrastructure spending," the analyst said. 
The analyst said CPU market share gains could continue in the second half of 2024 and in 2025.
AMD highlighted increased engagements with existing customers and onboarding new customers for its data center GPU ramp, Hari said. 
AMD&#8217;s competition with Nvidia in the data center GPU market remains a concern, the analyst said. 
"We look forward to learning more from AMD over the coming months and quarters about its long-term product roadmap and how it intends to differentiate vis-à-vis not only Nvidia but also custom compute solutions introduced by many of the cloud hyperscalers."
KeyBanc On AMD: AMD&#8217;s first-quarter results were solid, according to Vinh, with the second-quarter guidance coming in mixed. 
"We are firm believers in AMD's revitalized product roadmap strategy, and product traction is compelling. However, expectations for share gains and growth are high," the analyst said. 
The analyst is concerned there is risk to the stock, with its valuation sitting above peers and any downside in expectations weighing significantly on the stock.
Wedbush On AMD: The AI guidance from AMD implies quadruple digit year-over-year growth in GPU sales, Bryson said, adding the market reaction implies that "over 1,000% growth isn't enough.
"Despite AMD again lifting the bar for accelerator sales, with management now expecting to book north of $4B in 2024, the stock still fell in after-hours trading," the analyst said. 
Investors could be missing the forest for the trees, similar to AMD's last quarterly earnings report and the resulting stock sell-off, Bryson said. 
"The raised guide should have been viewed as AMD solidifying its position as the primary alternative to NVDA in the AI accelerator market."
Truist On AMD: The $4-billion guidance for data center GPU is not what bulls hoped for or what bears feared, Stein said.
The analyst said the guidance will draw a mixed reaction from investors. Stein has concerns around AMD's position versus Nvidia and new CPU competitors.
Roth MKM On AMD: The semiconductor company saw AI growth offset non-AI headwinds, Desilva said.
"We are encouraged that the company raised its CY24 AI GPU revenue expectation and is also seeing a tailwind with client AI PC, offsetting persistent inventory impact in other segments," the analyst said. 
The analyst said MI300 GPU revenues have passed the $1-billion revenue mark in only two quarters.
"We are confident that the current ramp is diversified across multiple hyperscale and emerging enterprise customer opportunities versus CY23 dependence on a large HPC program ramp."
AMD Price Action: AMD shares are down 9.14% to $143.90 on Wednesday versus a 52-week trading range of $81.02 to $227.30. Shares of AMD are up over 60% in the last year.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/04/38540318/nvidias-ai-leadership-challenged-as-amd-claims-superior-inference-performance-with-mi300-chip-partn">Nvidia&#8217;s AI Leadership Challenged As AMD Claims Superior Inference Performance With MI300 Chip: &#8216;Partners Are Seeing Very Strong Performance&#8217;</a>
Photo courtesy of AMD.

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AMD Falls On Q1 Earnings, Q2 Guidance: Why '1,000% Growth' From AI Stock Is Not Enough For Investors

Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) plans to construct a data center in Vietnam to meet legal requirements for local data storage and to cater to increasing demand in one of Asia&#8217;s fastest-growing economies. 
Currently, Alibaba rents server space from Vietnamese state-owned telecommunications companies Viettel and VNPT. 
The arrangement follows Vietnam&#8217;s contentious 2022 law mandating that companies store data within the country—a regulation that sparked resistance from major tech firms like&nbsp;Alphabet Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)&nbsp;Google&nbsp;and&nbsp;Amazon.Com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), the Nikkei Asia&nbsp;<a target="_blank" href="https://asia.nikkei.com/Business/Technology/Alibaba-to-build-Vietnam-data-center-to-follow-local-storage-law" rel="noreferrer noopener">reports</a>.
Dang Minh Tam, Alibaba Cloud&#8217;s solution architect lead, noted that the company uses colocation services from these state companies to store client data locally. It also maintains backups across its server farms in regions including Taiwan and Singapore.&nbsp;
The move is part of Alibaba&#8217;s strategy to ensure better security and control over its data and potentially reduce costs and liability issues associated with multi-company data management.&nbsp;
Companies including&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>),&nbsp;Apple Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and&nbsp;Lam Research Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>) have reached out to Vietnam to diversify their supply chain base amid heightening geopolitical tensions between the US and China.
Lam Research&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37886908/lam-research-eyes-vietnam-to-diversify-supply-chain-away-from-china-report" rel="noreferrer noopener">weighed the supply chain shift</a>&nbsp;to Vietnam, with the Vietnamese government canvassing the former to commit $1 billion to local production efforts.
&nbsp;Apple&nbsp;<a target="_blank" href="https://www.benzinga.com/government/24/04/38460042/apple-strengthens-supply-chain-in-china-while-growing-presence-in-southeast-asia-and-india" rel="noreferrer noopener">suppliers in Vietnam</a>&nbsp;increased by 40% to 35 in 2023.
Meanwhile, Nvidia tapped&nbsp;<a target="_blank" href="https://www.benzinga.com/government/23/12/36171360/whats-going-on-with-nvidia-stock-monday" rel="noreferrer noopener">Vietnamese tech firms</a>&nbsp;for AI development.
Alibaba stock lost over 11% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Invesco Golden Dragon China ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGJ#NASDAQ">PGJ</a>) and&nbsp;Tidal Trust II CoreValues Alpha Greater China Growth ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CGRO#NYSE">CGRO</a>).
Price Action: BABA shares are trading higher by 1.28% at $75.78 at the last check on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors
Alibaba Photo by zhu difeng on Shutterstock

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After Nvidia and Apple, Alibaba Chases Vietnam: New Data Center to Boost Control and Meet Local Laws

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/05/2024-05-01_08h09_21.png" style="height:350px; width:624px" />
<h3>Making A Fortune In Artificial Intelligence</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-fomc-meeting-powell-rate-decision-smci-mc-05012024">click here</a> for an enlarged chart of Super Micro Computer Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>).
Note the following:
<ul>
<li>This article is about the big picture, not an individual stock. The chart of SMCI stock is being used to illustrate the point.</li>
<li>Super Micro has been the most favorite artificial intelligence stock of the momo crowd.&nbsp;The chart shows the big drop in the stock on earnings released after the market closed.</li>
<li>The chart shows a 40.5% drop since the high in March.</li>
<li>RSI shown on the chart foretold what was to come.</li>
<li>The momo crowd, including momo gurus, that ran up the stock did not really understand the server business.</li>
<li>SMCI presents an important learning moment for prudent investors.&nbsp;These are four important points here:
<ul>
<li>What you do not buy is as important as what you buy.&nbsp;&nbsp;</li>
<li>A little knowledge is a dangerous thing.&nbsp;&nbsp;</li>
<li>The momo crowd&rsquo;s history is that they make money because they run up stocks with their own buying.&nbsp;Subsequently, the momo crowd loses money when smart money sells into the strength.&nbsp;Often, the momo crowd loses more money than they make, resulting in a net loss.&nbsp;&nbsp;&nbsp;</li>
<li>Follow smart money for investments.&nbsp;Selectively follow the momo crowd for very short term trades when there is a Signal or Signal Limited.&nbsp;&nbsp;</li>
</ul>
</li>
<li>Members and readers of The Arora Report, already knew in advance what was to come.&nbsp;On March 4, right near the top of SMCI stock, <a href="https://www.benzinga.com/markets/24/03/37461504/yolo-rears-its-ugly-head-in-the-stock-market-bitcoin-hits-65k-target-opec-extends-production-cuts">we wrote</a>:</li>
</ul>
<ul>
<li>
<blockquote>SMCI has become a favorite of the momo crowd.&nbsp;The momo crowd incorrectly thinks SMCI has the same potential as Nvidia (NVDA).&nbsp;Investors need to keep in mind the following:
</blockquote>
<ul>
<li>
<blockquote>SMCI moves a lot more than NVDA.&nbsp;SMCI is so volatile because of the small float.
</blockquote>
</li>
<li>
<blockquote>SMCI is an assembler of servers for artificial intelligence.&nbsp;It uses components from NVDA, Micron (MU), and Marvell (MRVL).
</blockquote>
</li>
<li>
<blockquote>NVDA has a large moat to protect it that includes IP for its GPUs.&nbsp;SMCI has no moat and the barrier to entry for competitors is low.
</blockquote>
</li>
<li>
<blockquote>SMCI sales are to hyperscalers like Microsoft (MSFT), Amazon (AMZN), and Google (GOOG).&nbsp;The reason SMCI sales are booming is that they have availability of NVDA chips.&nbsp;As chips become more available to competitors, SMCI will not be able to sustain its sales growth rate.
</blockquote>
</li>
<li>
<blockquote>The momo crowd is buying SMCI due to lack of knowledge.&nbsp; However, there are many investors who understand and have the knowledge of SMCI&#39;s business.&nbsp;Many such investors are short selling SMCI.&nbsp; For the time being, short sellers are being overwhelmed by the YOLO crowd.
</blockquote>
</li>
<li>
<blockquote>Taking all of the above into consideration with the <a href="https://thearorareport.com/zyx-quantitative-screen">quantitative analysis screen</a> of the ZYX Change Method, in an optimistic case, the fair value of SMCI stock is $442 - $486.
</blockquote>
</li>
</ul>
</li>
</ul>
<ul>
<li>You may recall that The Arora Report was the first one to identify that artificial intelligence was real in 2022.&nbsp;At that time, momo gurus were selling AI stock.</li>
<li>A fortune is to be made in AI between now and 2030.&nbsp; SMCI shows that at times it will be treacherous.&nbsp;You need expert guidance.&nbsp; Equally important is building your knowledge of investments in AI.&nbsp;</li>
<li>FOMC will release its decision at 2pm ET today.&nbsp;FOMC is expected to keep interest rates unchanged.&nbsp;The key event is Powell&rsquo;s conference.&nbsp;The data shows that professional traders are expecting higher volatility during Powell&rsquo;s conference than at any other point over the last year.&nbsp;</li>
<li>In The Arora Report analysis, the near term direction of the stock market will come down to if objective Powell shows up or if political Powell shows up.&nbsp;&nbsp;
<ul>
<li>If objective Powell shows up, expect the stock market to go down. &nbsp;The reason is that the stock market is still levitating on hopium and not paying attention to the data.&nbsp;&nbsp;</li>
<li>If political Powell shows up, expect a rip roaring rally.&nbsp;</li>
</ul>
</li>
<li>We previously shared that prudent investors should pay attention to the Treasury refunding plan.
<ul>
<li>The Treasury plans to borrow $243B in the April to June quarter vs. $202B estimate.</li>
<li>The Treasury has just released the composition of the borrowing.</li>
<li>In The Arora Report analysis, the composition is more important than the increased amount of borrowing.&nbsp;Last time, the Treasury manipulated the borrowing to make stock and bond markets run higher.&nbsp;We will be carefully analyzing the just released new data.</li>
</ul>
</li>
<li>Automatic Data Processing Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adp#NASDAQ">ADP</a>) is the largest private payroll processor in the country.&nbsp; It uses its data to give a glimpse of the jobs picture in advance of the official jobs report that will be released on Friday at 8:30am ET.&nbsp; ADP employment change came at 192K vs. 175K consensus.&nbsp; This indicates that the jobs picture is staying very strong.&nbsp; In The Arora Report analysis, the strength is at the low end while the job picture remains weak in IT and finance.</li>
</ul>
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>), and Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>).
In the early trade, money flows are neutral in Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>).
In the early trade, money flows are negative in Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>), NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), and Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>).
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust (ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is buying stocks in the early trade.&nbsp;Smart money is inactive in the early trade.
<h3>Gold</h3>
The momo crowd is buying gold in the early trade.&nbsp; Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD).&nbsp;The most popular ETF for silver is iShares Silver Trust (ARCA:SLV).&nbsp;
<h3>Oil</h3>
The momo crowd is selling oil in the early trade.&nbsp; Smart money is inactive in the early trade.
For longer-term, please see oil ratings.
The most popular ETF for oil is United States Oil ETF (ARCA:USO).
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has fallen below $60,000 on momo crowd selling.&nbsp; Recent momo crowd bitcoin buyers who fell prey to whales&rsquo; propaganda of buying on bitcoin halving and bought bitcoin above $70,000 are panicking and selling.&nbsp;Of course, if you listened to the podcast on bitcoin halving, you knew in advance that this was a high probability outcome.
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp;If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp; When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp; High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less. Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Commodities

TSLA

Super Micro Folly, Stock Market Direction Depends On Which Powell Shows Up – Objective Or Political

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust </h3>
Currently, the SPY&nbsp;(ARCA: SPY) is trading around the 500.17 mark. Bulls are looking for an upward movement to 500.91 initially. If this level is surpassed with strong momentum, the next target is 503.95, which we hope will act as a robust support level. Holding above 503.95 could pave the way for a move towards 506.71, and our optimistic target for the bulls today is 508.34.
On the downside, if the SPY fails to maintain 500.17 as support, we anticipate a bearish descent towards 498.93. A confirmed break below this point could lead the price down to 496.93. Should selling pressure intensify, we expect further decline to 494.27, with the lowest bear target set at 492.39 for the day.
<h3>Invesco QQQ Trust Series 1 </h3>
The QQQ index&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) is positioning around 422.16. Bulls are aiming to sustain the price above 424.04, targeting 425.77 as a firm support level. If maintained, the buying momentum might push the price towards 426.64, potentially testing 427.32. The highest bull target for today is set at 428.50.
Conversely, if the QQQ cannot hold above 422.16, bears might take control, pushing the price down to 420.76. A breakdown from there could see a further dip to 419.19, and persistent selling might test 417.49. If this support gives way, the lowest bear target for the day is 416.23.
<h3>Apple Inc.</h3>
Apple (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) shares are trading near the 170.32 level. Bulls are eyeing 171.13 as a crucial support to hold, aiming for an upward trajectory towards 171.79 and potentially 172.45 if the upward momentum persists. The highest bull target for Apple today is 173.94.
Should Apple fail to keep 170.32 as support, the downside target is set at 168.99. Increasing sell-off could push the price further down to 168.00 and then to 167.09. A break below this level could lead to a test of the day&#39;s lowest bear target at 166.27.
<h3>Microsoft Corp.</h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is being traded around 390.98. For bullish prospects, the aim is to maintain above 392.49, leading to a potential rally to 394.46. Holding this level could propel the stock towards 395.68, with a bull target of 400.30 for the day.
If Microsoft cannot sustain 390.98 as support, the bearish scenario involves a descent to 387.60. A break below this level might lead to further downside tests at 385.42, pushing towards 382.69. The lowest bear target for today is 381.64.
<h3>NVIDIA Corporation</h3>
NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is hovering around 846.80. Bulls are looking to push the price to 852.61 and establish it as a solid support level. If successful, the next targets are 865.62 and 877.25, with a high bull target of 882.97 for the day.
If NVIDIA cannot maintain 846.80 as support, bears might drive the price down to 842.42. A failure there could see a further drop to 837.58 and, if selling pressure continues, a test of 833.50. The day&#39;s lowest bear target is 827.98.
<h3>Alphabet Inc Class A</h3>
Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is currently positioned at 163.79. Bulls are aiming to secure 165.41 as support and push the price to 167.04. If bullish momentum continues, the target moves up to 169.34.
Should Alphabet&#39;s price fail to hold 163.79 as support, the bears are expected to push it down to 161.79. A break below this could bring 160.36 into play, with a further descent possibly leading to the lowest bear target of the day at 158.54.
<h3>Meta Platforms Inc</h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is trading around 426.00. Bulls are aiming to maintain strength above 429.01, pushing higher to 432.39 and potentially 436.87. The bullish momentum could lead to a high target of 441.35 for the day.
On the downside, if Meta cannot hold 426.00 as support, the target shifts to 420.24. A breakdown there could lead to further drops to 417.87, and potentially down to the day&#39;s lowest bear target at 415.05.
<h3>Tesla Inc.</h3>
Tesla (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading near 179.79. Bulls are aiming to push the price up to 182.53 and, with continued buying, possibly to 184.10. A broader market rally could see Tesla reaching 186.10, with a high bull target of 189.22 for the day.
If Tesla fails to hold 179.79 as support, bears might lead a decline to 176.34. Continued selling could push the price to 172.61, and if bearish momentum holds, down to the lowest bear target of 169.70 for the day.
Final Word:&nbsp; Today&#39;s trading session is stacked with pivotal economic data and events that could significantly impact market dynamics. The day kicks off with the ADP Non-Farm Employment Change at 8:15AM ET, which provides early insights into labor market conditions. Shortly thereafter, at 8:30AM ET, we will have the Quarterly Treasury Refunding Announcement, an event that could influence bond market movements. At 9:45AM ET, the Final S&amp;P Global Manufacturing PMI will be released, offering key indicators of economic health in the manufacturing sector. At 10AM ET, attention shifts to the Construction Spending report for March and the JOLTS Job Openings for March, alongside the ISM numbers for April, all of which could sway investor sentiment. The climax of today&#39;s economic calendar is at 2PM ET with the FOMC&#39;s Interest Rate Decision, followed by Fed Chair Powell&rsquo;s press conference at 2:30PM ET. Given the array of critical data and the potential for high volatility, traders are advised to maintain a heightened level of caution and strict discipline in their trading strategies. Best of luck navigating today&#39;s complex market environment!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Market Clubhouse Morning Memo - May 1st, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, And TSLA)

<ul>
<li>DJT</li>
<li>AMZN</li>
<li>NVDA</li>
<li>TSLA</li>
<li>AMD</li>
<li>SBUX</li>
<li>CORN</li>
<li>TLRY</li>
<li>AAPL</li>
<li>SMCI</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
&nbsp;

CORN

TLRY

Top 10 Trending Stocks On WallStreetBets As Of May 1, 2024 (Via Swaggy Stocks)

A negative sentiment might linger on Wall Street on Wednesday, as evidenced by stock futures, after&nbsp;Advanced Micro Devices, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up" rel="noreferrer noopener">underwhelming quarterly report</a>, exerting pressure on the tech sector and the broader market. However, the afternoon&#8217;s Federal Reserve interest rate decision and subsequent press conference by Chairman&nbsp;Jerome Powell&nbsp;could be the&nbsp;key&nbsp;catalyst that ultimately determines the session&#8217;s direction.
Despite potential short-term headwinds, some analysts view the April market pullback as a necessary correction after a strong rally, paving the way for renewed momentum in the coming months.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.72%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.43%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.21%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.60%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a>&nbsp;trading on Wednesday, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.41% to $499.92,&nbsp;and the&nbsp;Invesco QQQ ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) slumped 0.75% to $421.40, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Session:
Inclement economic data weighed down on the market on Tuesday, as the major averages reversed course, snapping a two-session advance. The employment cost index &#8211; a measure of wage-induced inflation rose more than expected in the first quarter, Chicago region&#8217;s manufacturing activity sunk further into contraction territory and consumer confidence fell below a threshold that demarcates receding and improving sentiment, three separate reports showed.
Bond yields spiked, exerting further downward pressure on stocks.
The averages opened narrowly mixed and moved roughly sideways in early trading. The indices declined steadily through the remainder of the session, ending notably lower for the day. The sell-off was broad-based, with IT, energy, and consumer discretionary stocks serving as big drags.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-2.04%</td>
<td>15,657.82</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-1.57%</td>
<td>5,035.69</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>-1.49%</td>
<td>37,815.92</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.09%</td>
<td>1,973.91</td>
</tr>
</tbody>
</table>
</figure>
For the month, the indices fell 4.41%, 4.16%, 5.00% and 7.09%, respectively, with the S&amp;P 500 snapping a five-month winning run.
Insights From Analysts:
Powell alone can help lift some of the overhang surrounding the rate outlook and this could be the need of the hour, according to an analyst. Charlie Ripley, Senior Investment Strategist for Allianz Investment Management, said, &#8220;Market sentiment continues to waver on inflation-related data sets,&#8221; said the analyst, adding that data showing a jump in employment costs left an &#8220;unsavory taste in the mouth of investors.&#8221; 
&#8220;The continued realization that sticky service-related inflation metrics are taking a bite out of the Fed's rate-cutting plans has investors on edge for the time being and this is squarely being reflected in the sell-off of both bonds and equities,&#8221; Ripley said.
He expects Powell to help shed some light on the current uncertainty surrounding the path of policy rates.  
Carson Group&#8217;s Ryan Detrick, meanwhile, isn&#8217;t worried about the normally bullish April struggling this year. The S&amp;P 500 Index has been higher for five months in a row heading into it and some type of break was warranted, he said.
&#8220;In fact, we wouldn't be surprised if stocks consolidated for another month or so, working off some of the historic rebound off the late-October lows. We do not expect major weakness, but a break makes sense,&#8221; he added.
Detrick raised the specter of a summer rally, and strength during these six months, given it is an election year and stocks have been strong so far this year.
Upcoming Economic Data:
<ul>
<li>ADP is due to release its private payroll data for April at 8:15 a.m. EDT. Economists, on average, expect the sector to have added 183,000 jobs during the month, flattish with the previous month.</li>
<li>The Institute for Supply Management is scheduled to release its manufacturing purchasing managers&#8217; index for March at 10 a.m. EDT. The consensus estimate calls for a reading of 49.9, suggesting contraction, down from 50.3 in February.</li>
<li>The Labor Department will release the results of its Job Openings and Labor Turnover survey at 10 a.m. EDT, with the average economists&#8217; estimate for job openings at 8.7 million for March, down from 8.8 million in February.</li>
<li>The Commerce Department&#8217;s construction spending report, due at 10 a.m. EDT, will likely show a 0.3% month-over-month increase in spending in March. This compares to a 0.3% drop in the previous month.</li>
<li>The Energy Information Administration will release its weekly petroleum status report at 10:30 a.m. EDT.</li>
<li>The Fed will release its post-meeting policy statement at 2 p.m. EDT and this will be followed by Powell&#8217;s press conference at 2:30 p.m. EDT.</li>
</ul>
See Also: <a href="https://www.benzinga.com/money/best-futures-brokers">Best Futures Brokers</a>
Stocks In Focus: 
<ul>
<li>AMD fell over 6.5% in <a href="https://www.benzinga.com/premarket">premarket trading </a>after the company reported a small first-quarter beat and issued a lukewarm forward guidance. Peer Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and other chip stocks moved in sympathy.</li>
<li> Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) climbed over 2% following its first-quarter results.</li>
<li>Other stocks moving on earnings are Pinterest, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) (up about 18%), Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) (down over 12%), Skyworks Solutions, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) (down about 13%), and Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) (down about 9%).</li>
<li>Bausch + Lomb Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLCO#NYSE">BLCO</a>), CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), DuPont de Nemours, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>), The Estée Lauder Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EL#NYSE">EL</a>), Garmin Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>), GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>), The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>), KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), Logitech International S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOGI#NASDAQ">LOGI</a>), Mastercard Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), Norwegian Cruise Line Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NCLH#NYSE">NCLH</a>), Pfizer, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), Wingstop Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>) and Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) are among the <a href="https://www.benzinga.com/calendars/earnings">notable companies reporting earnings ahead of the market opening.</a></li>
<li>Notable names reporting after the close are Albemarle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>), The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Beazer Homes USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BZH#NYSE">BZH</a>), C.H. Robinson Worldwide, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRW#NASDAQ">CHRW</a>), Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>), eBay Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBAY#NASDAQ">EBAY</a>), Etsy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>), First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Freshworks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>), Kulicke and Soffa Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLIC#NASDAQ">KLIC</a>), Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), MetLife, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MET#NYSE">MET</a>), MGM Resorts International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGM#NYSE">MGM</a>), NETGEAR, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTGR#NASDAQ">NTGR</a>), Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>), Sunnova Energy International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOVA#NYSE">NOVA</a>), Upwork Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPWK#NASDAQ">UPWK</a>), Wolfspeed, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>) and Zillow Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>).</li>
</ul>
Commodities, Bonds, and Global Equity Markets:
Crude oil futures fell for a third straight session, as the price pulled back toward the $80-a-barrel mark, and gold futures were little changed with a negative bias. An ounce of gold traded for around $2,300.
The 10-year note yield edged up and was around the 4.69% mark.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) pulled back sharply toward the $57K mark.
Most global equity markets remained closed for the Labor Day holiday. The open ones, including Japan, New Zealand, and Australia, settled lower ahead of the U.S. Fed decision.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/04/38481553/will-earnings-cheer-continue-to-buoy-markets-apple-amazon-pfizer-coinbase-lead-flurry-of-q1-reports">Will Earnings Cheer Continue To Buoy Markets? Apple, Amazon, Pfizer, Coinbase Lead Flurry Of Q1 Reports This Week</a>
Photo by Tada Images on Shutterstock

Futures

Previews

Pre-Market Outlook

BLCO

GRMN

LOGI

WING

Wall Street Set To Open Lower After AMD Earnings Disappoint As Traders Look To Fed's Powell For Relief: Why This Analyst Sees Incoming Summer Rally

WIIM

ALAB

AMAT

AMKR

AVGO

KLAC

MCHP

MOBX

NXPI

Shares of semiconductor stocks are trading lower in sympathy with AMD and Supermicro, which fell after reporting quarterly earnings. Additionally, Skyworks issued Q3 revenue guidance with a midpoint below estimates.

Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) CEO Lisa Su highlighted the company&#8217;s AI hardware&#8217;s superior performance over NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and its potential to cut customer costs during the first quarter earnings call this year.
What Happened: Su claimed that AMD&#8217;s MI300X GPUs offer better inferencing performance and significant total cost of ownership (TCO) advantages compared to Nvidia&#8217;s H100 GPUs. 
She also noted that the MI300X GPUs could deliver the same amount of compute with 45% fewer servers than the competition, potentially reducing initial capex by up to half and lowering annual opex by more than 40%.
&#8220;Our partners are seeing very strong performance in their AI workloads. As we jointly optimize for their models, MI300X GPUs are delivering leadership, inferencing performance and substantial TCO advantages compared to H100,&#8221; Su said.
See Also: <a href="https://www.benzinga.com/government/24/04/38488235/supreme-court-drivers-hauling-baked-goods-are-in-transportation-not-baking?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Supreme Court: Drivers Hauling Baked Goods Are in Transportation, Not Baking</a>
She added, &#8220;For instance, several of our partners are seeing significant increases in tokens per second when running their flagship LLMs on MI300X compared to H100.&#8221;
Why It Matters: AMD&#8217;s first quarter earnings call comes on the heels of a <a href="https://www.benzinga.com/news/earnings/24/04/38534910/amd-investors-pull-back-after-modest-q1-beat-ceo-touts-ai-chip-ramp-up">modest beat and lukewarm guidance</a>, which caused a pullback in the stock. Despite this, Su&#8217;s remarks about the MI300X GPUs&#8217; performance and cost advantages could help bolster investor confidence in the company&#8217;s AI hardware.
Earlier in April, <a href="https://www.benzinga.com/news/24/04/38115757/amds-mi300-chip-gains-momentum-analyst-predicts-strong-growth-and-server-market-success">analyst predictions</a> about the MI300 chip&#8217;s strong growth and success in the server market had already set a positive tone for AMD&#8217;s AI hardware. Su&#8217;s recent comments further reinforce the potential of AMD&#8217;s AI hardware in the market.
Price Action: AMD stock traded lower in after-hours trading, with a decrease of 6.91% to $147.43 on Tuesday. Nonetheless, the stock has seen a 14.29% increase year-to-date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38519395/goldman-sachs-tempers-investor-excitement-on-tesla-self-driving-not-yet-an-eyes-off?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Goldman Sachs Tempers Investor Excitement On Tesla Self-Driving Tech In China: &#8216;Not Yet An Eyes-Off, Unsupervised Product&#8217;</a>
Image Via Shutterstock 
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Global

Nvidia's AI Leadership Challenged As AMD Claims Superior Inference Performance With MI300 Chip: 'Partners Are Seeing Very Strong Performance'

Shares of semiconductor stocks are trading lower in sympathy with AMD and Supermicro, which fell after reporting quarterly earnings.

Advanced Micro Devices, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>) was trading flat Tuesday ahead of its first-quarter earnings print set to take place <a href="https://www.benzinga.com/calendars/earnings">after the market closes</a>.
When AMD printed its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36855665/amd-stock-slips-after-in-line-q4-lisa-su-touts-exciting-time-for-chipmaker-driven-b">fourth-quarter earnings</a> on Jan. 30, the stock dropped about 2.5% the following day and continued to trade mostly sideways until Feb. 29, when the chipmaker started to make a series of new all-time highs, which brought the stock to a new high of $227.30 on March 8.
For that quarter, AMD reported second-quarter non-GAAP earnings per share of 77 cents, in line with the consensus estimate. The semiconductor stock printed revenues of $6.17 billion, which exceeded the consensus estimate of $6.12 billion.
For the first quarter, analysts, on average, estimate AMD will report earnings of 61 cents per share on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38517836/will-ai-ignite-amds-stock-q1-earnings-to-test-investor-confidence-today">revenues of $5.46 billion</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/04/38511785/cathie-woods-ark-goes-chip-stock-shopping-ahead-of-amd-earnings-adds-more-of-warren-buffett-back">Cathie Wood&#39;s Ark Goes Chip-Stock Shopping Ahead Of AMD Earnings, Adds More Of Warren Buffett-Backed Chinese EV Play</a>
Trending:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38528542/bitcoin-dogecoin-shiba-inu-pumped-after-the-last-fomc-meeting-will-history-repeat-on-wedne">Bitcoin, Dogecoin, Shiba Inu Pumped After The Last FOMC Meeting&mdash;Will History Repeat On Wednesday?</a>
Ahead of the event, Rosenblatt analyst Hans Mosesmann reiterated a Buy rating on AMD and a price target of $250. <a href="https://www.benzinga.com/analyst-ratings/price-target/24/04/38498428/amd-q1-earnings-preview-analysts-bullish-but-warn-of-factors-that-can-derail-the-sem">Read More&hellip;</a>
From a technical analysis perspective, AMD&#39;s stock looks neutral heading into the event, trading in an uptrend but showing signs the local top may be in.
It should be noted that holding stocks or options over an earnings print is akin to gambling because stocks can react bullishly to an earnings miss and bearishly to an earnings beat.
Bullish On AMD? Traders and Investors looking to play the possible upside in AMD stock but with diversification may choose to take a position in the <a href="https://www.benzinga.com/profile/spear-funds">Spear Alpha ETF</a> (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sprx#NASDAQ">SPRX</a>). SPRX is <a href="https://spear-funds.com/index2.php?_gl=1*5s8lgz*_ga*MTMxMzY5MDc0Ni4xNzA2MTExMDk2*_ga_JVGYEV0ZB4*MTcxNDQ5NDk2OS4xNy4wLjE3MTQ0OTQ5NjkuNjAuMC4w">an actively managed fund</a> offering investors the opportunity to achieve more than passive tracking of the broader market. Some of the fund&#39;s top holdings include NVIDIA Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), weighted at 10.71%, AMD, weighted at 7.21% and Zscaler, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zs#NASDAQ">ZS</a>), weighted at 9.59.
SPRX invests in companies capitalizing on emerging trends in industrial technology, aiming to uncover undervalued opportunities within various value chains aligned with themes such as enterprise digitalization, automation, AI, environmental focus, photonics, additive manufacturing, and space exploration. The ETF, traded on the Nasdaq exchange, targets long-term capital growth and is up about 60% over the last twelve months.
Want direct analysis? Find me in the BZ Pro lounge! <a href="http://www.benzinga.com/pro">Click here for a free trial</a>.
The AMD Chart: AMD rebounded into an uptrend on April 19 and has made a series of higher highs and a higher low to confirm the trend. The most recent confirmed higher high was formed on April 24 at $157.66 and the higher low was printed at the $146.75 mark on April 25.
<ul>
<li>On Tuesday, AMD was working to print a shooting star or doji candlestick, which could indicate the local top has occurred and the stock will trade lower on Wednesday. If that happens, bullish traders want to see AMD rebound from the $147 level, which will signal the uptrend remains intact.</li>
<li>If AMD enjoys a bullish reaction to its earnings print and rises higher on Wednesday, the stock will regain the 21-day exponential moving average (EMA), which would be bullish for continuation. If that happens, the eight-day EMA is likely to cross above the 21-day EMA, which would be bullish over the mid-term.</li>
<li>AMD has resistance above at $164.46 and at $180.01 and support below at $155.65 and at $145.29.<img alt="screenshot_591.png" src="https://www.benzinga.com/files/u278075/screenshot_591.png" style="height:355px; width:760px" /></li>
</ul>

Short Ideas

Specialty ETFs

Technicals

SPRX

Trading Strategies For Advanced Micro Devices Before And After Q1 Earnings

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>05/03/24</td>
<td>$900.00</td>
<td>$39.7K</td>
<td>21.0K</td>
<td>36.5K</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$170.00</td>
<td>$33.0K</td>
<td>17.7K</td>
<td>26.0K</td>
</tr>
<tr>
<td>KD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$18.00</td>
<td>$55.3K</td>
<td>2.6K</td>
<td>2.0K</td>
</tr>
<tr>
<td>DELL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$135.00</td>
<td>$47.5K</td>
<td>124</td>
<td>940</td>
</tr>
<tr>
<td>SNPS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$470.00</td>
<td>$109.6K</td>
<td>508</td>
<td>866</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/03/24</td>
<td>$850.00</td>
<td>$26.2K</td>
<td>799</td>
<td>640</td>
</tr>
<tr>
<td>RIOT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$12.00</td>
<td>$60.8K</td>
<td>9.2K</td>
<td>623</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$25.00</td>
<td>$153.0K</td>
<td>6.8K</td>
<td>502</td>
</tr>
<tr>
<td>NTNX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$60.00</td>
<td>$64.6K</td>
<td>252</td>
<td>421</td>
</tr>
<tr>
<td>MSTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/10/24</td>
<td>$1000.00</td>
<td>$167.2K</td>
<td>67</td>
<td>413</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we notice a call option trade that happens to be neutral, expiring in 3 day(s) on May 3, 2024. This event was a transfer of 50 contract(s) at a $900.00 strike. The total cost received by the writing party (or parties) was $39.7K, with a price of $795.0 per contract. There were 21052 open contracts at this strike prior to today, and today 36535 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a call option trade that happens to be bullish, expiring in 3 day(s) on May 3, 2024. This event was a transfer of 100 contract(s) at a $170.00 strike. The total cost received by the writing party (or parties) was $33.0K, with a price of $330.0 per contract. There were 17703 open contracts at this strike prior to today, and today 26011 contract(s) were bought and sold. 
• For KD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>), we notice a put option sweep that happens to be bearish, expiring in 17 day(s) on May 17, 2024. This event was a transfer of 1229 contract(s) at a $18.00 strike. This particular put needed to be split into 29 different trades to become filled. The total cost received by the writing party (or parties) was $55.3K, with a price of $45.0 per contract. There were 2649 open contracts at this strike prior to today, and today 2004 contract(s) were bought and sold. 
• Regarding DELL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>), we observe a put option sweep with bullish sentiment. It expires in 52 day(s) on June 21, 2024. Parties traded 29 contract(s) at a $135.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $47.5K, with a price of $1640.0 per contract. There were 124 open contracts at this strike prior to today, and today 940 contract(s) were bought and sold. 
• For SNPS (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>), we notice a put option sweep that happens to be bullish, expiring in 52 day(s) on June 21, 2024. This event was a transfer of 166 contract(s) at a $470.00 strike. This particular put needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $109.6K, with a price of $660.0 per contract. There were 508 open contracts at this strike prior to today, and today 866 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a put option trade that happens to be bearish, expiring in 3 day(s) on May 3, 2024. This event was a transfer of 5 contract(s) at a $850.00 strike. The total cost received by the writing party (or parties) was $26.2K, with a price of $5255.0 per contract. There were 799 open contracts at this strike prior to today, and today 640 contract(s) were bought and sold. 
• Regarding RIOT (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>), we observe a call option sweep with bullish sentiment. It expires in 262 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $12.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $60.8K, with a price of $303.0 per contract. There were 9253 open contracts at this strike prior to today, and today 623 contract(s) were bought and sold. 
• Regarding INTC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), we observe a call option sweep with bullish sentiment. It expires in 262 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $25.00 strike. This particular call needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $153.0K, with a price of $765.0 per contract. There were 6862 open contracts at this strike prior to today, and today 502 contract(s) were bought and sold. 
• Regarding NTNX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>), we observe a put option sweep with bearish sentiment. It expires in 17 day(s) on May 17, 2024. Parties traded 417 contract(s) at a $60.00 strike. This particular put needed to be split into 40 different trades to become filled. The total cost received by the writing party (or parties) was $64.6K, with a price of $155.0 per contract. There were 252 open contracts at this strike prior to today, and today 421 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a put option trade with bearish sentiment. It expires in 10 day(s) on May 10, 2024. Parties traded 38 contract(s) at a $1000.00 strike. The total cost received by the writing party (or parties) was $167.2K, with a price of $4400.0 per contract. There were 67 open contracts at this strike prior to today, and today 413 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

DELL

MSTR

NTNX

RIOT

SNPS

The S&amp;P 500 logged its biggest weekly gain since November as Big Tech stocks rallied. With this, U.S. stocks pared their April losses on Apr 26. The S&amp;P 500 advanced 2.7% last week, the Dow Jones inched up 0.7% and the Nasdaq jumped 4.2%. Let&#39;s highlight the key events of the last week.
<h3>Best Week for &quot;Magnificent Seven&quot; Since November</h3>
The batch of tech giants known as the &quot;Magnificent Seven&quot; regained some of its momentum at the end of the week, following positive earnings reports from Google-parent Alphabet (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) and Microsoft (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>).
Alphabet which gained 11.3% last week on the back of upbeat earnings, became the fourth U.S. company to reach the $2-trillion market cap milestone. On the other hand, Facebook-parent Meta (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) offered downbeat revenue guidance and saw shares slumping 9.4% last week. Tesla TSLA gained 19.7% on future affordable EV plans despite the Q1 miss.
Most tech companies&#39; promise to spend big on the AI revolution boosted the NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) stock, which jumped 12.3% last week. Meanwhile, MSFT, Amazon (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) and Apple (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) recorded modest gains of 1.6%, 1.5% and 2.1%, respectively.
Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA and Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) collectively added $686 billion in market value, in their strongest weekly performance since the week ending Nov 3, 2023, according to Dow Jones Market Data, as quoted on MarketWatch. However, despite last week&#39;s resurgence, both Apple and Tesla remain in negative territory for the year.
<h3>U.S. Economic Growth Slowed in Q1</h3>
The U.S. economy expanded at the slowest pace in two years, with GDP rising 1.6% annually in the first quarter, missing Wall Street expectations of a 2.4% increase. The growth reflects a clear slowdown from the 3.4% increase in the fourth quarter of 2023 and was also much lower than the 4.9% reported in the year-ago quarter.
<h3>U.S. Core PCE Inflation Rises Faster Than Expected</h3>
U.S. inflation, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 2.7% on a yearly basis in March from 2.5% in February. This reading came in above the market expectation of 2.6%.
The core PCE Price Index, which excludes volatile food and energy prices, held steady at 2.8% on a yearly basis, surpassing analysts&#39; estimate of 2.6%.On a monthly basis, the PCE Price Index and the core PCE Price Index both rose 0.3%.
Core Personal Consumption Expenditures (PCE) index surged 3.7% year over year in the first quarter. This topped estimates of 3.4% and marked a substantial increase from the 2% gain in the previous quarter. This surge in inflation raised doubts about the sooner-than-expected U.S. interest rate cuts.
The U.S. 10-year Treasury yield reached 4.70% on Apr 25, 2024, marking the first time since early November. However, the yield closed the week at 4.67%. Markets are now pricing in only one interest rate cut this year, reflecting a significant shift from the earlier projections. Powell&#39;s recent statements, which stress the need for &quot;greater confidence&quot; in the decline of inflation before considering rate cuts, also reinforced this sentiment.
<h3>Best ETFs in Focus</h3>
Against this backdrop, below we highlight a few winning ETFs of last week.
KraneShares CSI China Internet ETF (ARCA:KWEB) &ndash; Up 12.9%
The underlying CSI Overseas China Internet Index is designed to measure the performance of the investable universe of publicly traded China-based companies whose primary business or businesses are in the Internet and Internet-related sectors. The fund charges 69 bps in fees.
KraneShares Hang Seng TECH Index ETF (ARCA:KTEC) &ndash; Up 12.6%
The underlying Hang Seng TECH Index captures the 30 largest companies rapidly growing technology sector in Hong Kong. The fund charges 69 bps in fees.
Global X Blockchain ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bkch#NASDAQ">BKCH</a>) &ndash; Up 12.4%
The underlying Solactive Blockchain Index provides exposure to companies that are positioned to benefit from further advances in the field of blockchain technology. The fund charges 50 bps in fees.
VanEck Digital Transformation ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dapp#NASDAQ">DAPP</a>) &ndash; 12.4%
The underlying MVIS Global Digital Assets Equity Index is a rules-based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the global digital asset segment. The fund charges 51 bps in fees.
First Trust SkyBridge Crypto Industry &amp; Digital Economy ETF (ARCA:CRPT) &ndash; Up 11.2%
The First Trust SkyBridge Crypto Industry and Digital Economy ETF seeks to provide investors with capital appreciation. The fund charges 85 bps in fees.
<a href="https://www.zacks.com/stock/news/2264686/5-etf-winners-of-the-last-week?cid=CS-BENZ-FT-etf_news_and_commentary-2264686">To read this article on Zacks.com click here.</a>

BKCH

CRPT

DAPP

KTEC

KWEB

5 ETF Winners of the Last Week

UBS analyst Timothy Arcuri maintains NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Buy and raises the price target from $1100 to $1150.

UBS Maintains Buy on NVIDIA, Raises Price Target to $1150

To gain an edge, this is what you need to know today.
<img alt="" src="https://thearorareport.com/wp-content/uploads/2024/04/2024-04-30_07h52_43.png" style="height:389px; width:624px" />
<h3>Samsung Overtakes Apple</h3>
Please <a href="https://thearorareport.com/chart-analysis-stock-market-fomc-meeting-samsung-overtakes-apple-tlt-mc-04302024">click here</a> for an enlarged chart of 20+ year iShares 20+ Year Treasury Bond ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlt#NASDAQ">TLT</a>).
Note the following:
<ul>
<li>The chart shows that bonds have fallen this year.</li>
<li>The chart shows that bonds are consolidating in the mini support zone.</li>
<li>Lower bonds mean higher yields.&nbsp;Higher yields mean lower PE ratios.&nbsp;Lower PE ratios mean lower stock prices, unless earnings rise.</li>
<li>So far, due to a strong economy because of the Fed&rsquo;s second blunder and reckless spending by the government, earnings are better than expected.&nbsp;45% of S&amp;P 500 companies have reported earnings.&nbsp;About 77% are above consensus.&nbsp;This is helping the stock market to levitate.&nbsp;We have <a href="http://blog.thearorareport.com/tesla-042924/">previously described</a> the Fed&rsquo;s second blunder.&nbsp;The Fed&rsquo;s second blunder has a major impact on your investments.&nbsp;&nbsp;</li>
<li>Just released data shows more bad news on inflation.&nbsp;Employment Cost Index came at 1.2% vs. 1.0% consensus.</li>
<li>The FOMC meeting starts today.&nbsp;FOMC will announce its decision at 2pm ET tomorrow followed by Powell&rsquo;s press conference at 2:30am ET.</li>
<li>The AI phone from Samsung Electronics Co Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ssnlf#OTC">SSNLF</a>) is proving popular.&nbsp;Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) has lagged behind in AI.&nbsp;Institutions continue to sell AAPL stock. &nbsp;According to a just released report, Samsung has now taken over Apple as the largest provider of smart phones.</li>
<li>There are three notable earnings that investors should pay attention to:
<ul>
<li>Samsung has quadrupled its net profit due to demand from artificial intelligence.&nbsp;Its high bandwidth memory is flying off the shelves.&nbsp;Revenues for the quarter rose 13%.</li>
<li>Pharmaceutical giant Eli Lilly And Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lly#NYSE">LLY</a>) reported earnings better than the consensus and whisper numbers.&nbsp;Lilly is also raising its FY24 EPS projection to $13.50 - $14.00 from $12.20 - $12.70. Lilly&rsquo;s performance is due to strong sales of weight loss drugs Mounjaro and Zepbound.&nbsp;LLY stock is up about 6% as of this writing in the premarket.&nbsp; As full disclosure, LLY stock is in The Arora Report&rsquo;s ZYX Buy Model Portfolio.&nbsp; Members of The Arora Report now have a gain of 145% on LLY stock.</li>
<li>NXP Semiconductors NV (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nxpi#NASDAQ">NXPI</a>), a leader in automotive semiconductors, reported earnings better than the consensus and whisper numbers.&nbsp;As full disclosure, NXPI is in The Arora Report&#39;s&nbsp;ZYX Buy Model Portfolio.&nbsp;NXPI is trading up over 4%&nbsp; as of this writing in the premarket.&nbsp;</li>
</ul>
</li>
<li>There will be another indication of demand for artificial intelligence after the market close when three important companies for AI report earnings &ndash; Advanced Micro Devices, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amd#NASDAQ">AMD</a>), Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), and Super Micro Computer Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smci#NASDAQ">SMCI</a>).</li>
</ul>
<h3>Europe</h3>
The Eurozone economy has avoided a recession and is resilient.&nbsp; Q1 GDP came at 0.3% quarter-over-quarter vs. 0.1% consensus.
There is selling in European stocks because of the strong GDP data weighing on rate cut expectations.
<h3>Magnificent Seven Money Flows</h3>
In the early trade, money flows are positive in AMZN.
In the early trade, money flows are neutral in AAPL and Alphabet Inc Class C (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goog#NASDAQ">GOOG</a>).
In the early trade, money flows are negative in Meta Platforms Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>), Microsoft Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>), NVIDIA Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>), and Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>).
In the early trade, money flows are negative in SPDR S&amp;P 500 ETF Trust&nbsp;(ARCA:SPY) and Invesco QQQ Trust Series 1 (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>).
<h3>Momo Crowd And Smart Money In Stocks</h3>
The momo crowd is buying stocks in the early trade.&nbsp;Smart money is inactive in the early trade.
<h3>Gold</h3>
The momo crowd is selling gold in the early trade.&nbsp;Smart money is inactive in the early trade.
For longer-term, please see gold and silver ratings.
The most popular ETF for gold is SPDR Gold Trust (ARCA:GLD).&nbsp;The most popular ETF for silver is iShares Silver Trust (ARCA:SLV).&nbsp;
<h3>Oil</h3>
The momo crowd is buying oil in the early trade. Smart money is inactive in the early trade.
For longer-term, please see oil ratings.
The most popular ETF for oil is United States Oil ETF (ARCA:USO).
<h3>Bitcoin</h3>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is trading around $61,000.&nbsp;$60,000 is a key psychological support level.&nbsp;Whales will likely try to hold bitcoin above $60,000.&nbsp;However, the momo crowd that bought bitcoin at $70,000 on hopes of bitcoin going to $100,000 after bitcoin halving is likely to panic and sell.
<h3>Protection Band And What To Do Now</h3>
It is important for investors to look ahead and not in the rearview mirror.
Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider a protection band consisting of cash or Treasury bills or short-term tactical trades as well as short to medium term hedges and short term hedges. This is a good way to protect yourself and participate in the upside at the same time.
You can determine your protection bands by adding cash to hedges.&nbsp;The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.&nbsp;If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.
It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.&nbsp;When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.&nbsp;High beta stocks are the ones that move more than the market.
<h3>Traditional 60/40 Portfolio</h3>
Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.
Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of seven year duration or less.&nbsp; Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.
The Arora Report is known for its accurate calls. The Arora Report correctly called the big artificial intelligence rally before anyone else, the new bull market of 2023, the bear market of 2022, new stock market highs right after the virus low in 2020, the virus drop in 2020, the DJIA rally to 30,000 when it was trading at 16,000, the start of a mega bull market in 2009, and the financial crash of 2008. Please click here to sign up for a free forever <a href="https://thearorareport.com/generate-wealth-newsletter">Generate Wealth Newsletter</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

SSNLF

iShares Trust Barclays 20+ Year Treasury Bond Fund

FOMC Meeting Samsung Over Takes Apple, AI Demand Indication Ahead From AMD, Amazon And Super Micro

Good Morning Traders! In today&#39;s Market Clubhouse Morning Memo, we will discuss SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, and TSLA.
Our proprietary formula, exclusive to Market Clubhouse, dictates these price levels. This dynamic equation takes into account price, volume, and options flow. These levels are updated every day and shared with all Clubhouse Members, prior to the opening of the market.
We recommend closely monitoring these stocks, and be prepared to leverage potential breakouts or reversals. As always, stay alert and ready to adjust your tactics based on the market&#39;s pulse to optimize your trading gains. Now, let&#39;s dive into the stock analysis:
<h3>SPDR S&amp;P 500 ETF Trust</h3>
The SPY&nbsp;(ARCA: SPY) is currently trading around the price level of 509.49. Bulls are hoping for a rise to 510.14 initially. Should the market sustain momentum above 510.14, the next target for buyers is the support level of 510.95. Holding this could potentially lead to a surge towards 511.69. The highest target for bullish traders today is set at 512.26.
Conversely, if the support at 509.49 fails to hold, the market may shift in favor of the bears, aiming first for a drop to 508.34. Observing selling pressure at this point might push the price further down to 507.52. A breakdown here could lead to a test of the more significant support at 506.71. Under intense selling conditions, the lowest target for today is 505.32.
<h3>Invesco QQQ Trust Series 1</h3>
The Q&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqq#NASDAQ">QQQ</a>) are trading near the crucial level of 431.82. Bulls are aiming to maintain levels above 432.84. If they manage to sustain support at this level, the focus will shift to securing 433.64 as a reliable support. With continued buying, 434.76 could become the next target. In a strong market, bulls might test 435.88, with the highest target for today at 436.58.
If the price struggles to stay above 432.84, bears might take over, driving the price down to 431.18. Further weakness could see a decrease to 430.16. If selling intensifies, the next level to watch is 429.40, which if breached, could lead to a descent towards the daily low target of 428.50.
<h3>Apple Inc.</h3>
Apple&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>) is currently positioned at a trading level of 174.59. For an upward trend, bulls aim to maintain this as a support level, pushing towards 175.09. A continuation of bullish trends could drive the price up to 175.81. Should bullish dominance prevail today, the target to watch is 176.29.
Should the support at 174.59 not sustain, the market may favor bears, pushing the price down to 173.94. Further selling could lead to a decrease to 172.95, and with continued bearish pressure, the next critical level is 172.45. If this level fails, bears might drive the price down to the day&#39;s lowest target at 171.79.
<h3>Microsoft Corp. </h3>
Microsoft&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msft#NASDAQ">MSFT</a>) is trading around the level of 401.39. Bulls will look to keep the price above this point, with an immediate target of 402.74, hoping to establish it as a stable support. Sustained buying could propel the price towards 404.92. The highest bullish target for today is set at 407.11.
If the price cannot be maintained above 401.39, bears might look to decrease the value to 400.30. A break below this could lead to further downward movement to 399.21. Continuing bearish trends might push the price to 398.38, with the lowest bear target for the day at 397.65.
<h3>NVIDIA Corporation</h3>
NVIDIA (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nvda#NASDAQ">NVDA</a>) is trading around the pivotal level of 877.25. Bulls aim to drive the price to 882.97 and secure it as a solid support. Ambitious targets above this are 890.55 and 898.13, with the highest target for the day at 903.25.
If 877.25 cannot serve as a robust support today, bears may push for a lower level at 865.62. A breach of this level could result in a drop to 858.43. If the selling pressure continues, the price might decrease to 852.61, with the lowest target at 846.80.
<h3>Alphabet Inc Class A </h3>
Alphabet&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/googl#NASDAQ">GOOGL</a>) is trading near 167.04. Bulls will attempt to hold this as a support level, with a target of moving higher to 169.34. If the market remains bullish, the price could climb towards the high target of 171.14.
If the support at 167.04 fails during trading hours, the price might fall to 163.79. A breakdown here would lead to testing lower supports at 161.79. Intense selling might drive the price further down to the day&rsquo;s low target at 160.36.
<h3>Meta Platforms Inc</h3>
Meta&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) is&nbsp;trading around the level of 429.01. Bulls are looking to keep the market buoyant above this level, targeting an upward move to 432.39. With continued buying, the price could further ascend to 436.87, with the highest bull target at 441.35.
Conversely, if 429.01 cannot be sustained as support, bears may look to lower the price to 426.00. Increased selling could push the price further down to 420.24, with potential for a further drop to the day&rsquo;s lowest bear target at 417.87.
<h3>Tesla Inc. </h3>
Tesla&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) is trading near the key level of 189.22. Bulls are looking to propel the price to 191.52, and with continued market strength, to 193.81. A bullish market sentiment today could see the price testing 195.91, with the highest target at 197.50.
If the support at 189.22 does not hold, the market may favor bears, leading to a price drop to 186.10. Further weakness could bring the price down to 184.10. If this level is compromised, the lowest bear target for the day is set at 182.53.
Final Word:&nbsp; Today&#39;s session is set to be dynamic and potentially volatile, with the release of several significant economic data points on the eve of the Federal Open Market Committee (FOMC) rate decision. The day kicks off with the Q1 Employment Cost Index and Canadian GDP for February released at 8:30 AM ET, followed by the FHFA House Price Index for February at 9:00 AM ET. The MNI Chicago PMI for April will be released at 9:45 AM ET, just after the market opens. Later, at 10:00 AM ET, we have the Conference Board Consumer Confidence report for April, and at 10:30 AM ET, the Dallas Fed Services Activity will be released. Post-market earning from major companies like Amazon and AMD are scheduled. Investors and traders should keep a close watch on market volume and move cautiously during today&#39;s session. Good luck and trade safely!
The Morning Memo is curated by RIPS, a pro trader with years of experience in equities, options, and futures trading. RIPS is at the heart of the exclusive Market Clubhouse community, offering his insights, expertise, and real-time mentorship.
Start your day with a live daily market analysis, a carefully selected watch list, early access to the Morning Memo, and exclusive Market Clubhouse price levels, providing precise support and resistance indicators. When you become a member of Market Clubhouse, you will gain early access to the Morning Memo, just like this one, every single day&mdash;hours before it&#39;s published. You will also have access to a live stream with zero latency and screen sharing, enabling you to witness Rips executing his trades in real-time and sharing his exclusive trading plans, strategies, and live decision-making.
For a limited time during our special promotion, you can join RIPS and get a full access pass to Market Clubhouse for 7 full days for just $7. Check it out at <a href="https://marketclubhouse.club/7Days/" title="https://marketclubhouse.club/7Days/">https://marketclubhouse.club/7Days/</a> where you can trade live with him and tap into his wealth of knowledge and experience. You can also catch Rips on his live day trading streams every Monday-Friday at 8 am EST on the Market Clubhouse YouTube channel: <a href="https://www.youtube.com/@MarketClubhouse" title="https://www.youtube.com/@MarketClubhouse">https://www.youtube.com/@MarketClubhouse</a>.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Market Clubhouse Morning Memo - April 30th, 2024 (Trade Strategy For SPY, QQQ, AAPL, MSFT, NVDA, GOOGL, META, And TSLA)

AI cloud provider CoreWeave secures another $1.1B in funding

Third Point Q1 2024 Investor Letter

Reporting new chips to come out later this year should have been better news for chip stock AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) than it actually was. But word about t...

AMD (NASDAQ:AMD) Plunges, New Chips Can't Help Market Troubles

AMD Plunges, New Chips Can't Help Market Troubles

Super Micro suffers drop following outlook, AI-related stocks follow suit: update

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Many of yesterday&rsquo;s <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a> to buy, once the darlings of speculative traders, now languish as forgotten relics at the bottom of portfolios, their potential for massive gains long since diminished. This popular sentiment &mdash; &ldquo;It&rsquo;s only a loss if you sell&rdquo; &mdash; might not hold much comfort anymore.



Proving the truism less-than-true, many former top meme stocks like WeWork, Smile Direct Club and Bed Bath &amp; Beyond have been delisted. A few holdouts remain, barely maintaining their status by hovering in penny stock territory and clinging to a shred of credibility.



However, not all is lost. Despite the Federal Reserve&rsquo;s economic tightening over the past few years, some meme stocks are hovering on the edge of rebounding rapidly based on sector-specific tailwinds. That&rsquo;s further spurred by whispers of &ldquo;imminent&rdquo; rate cuts.



Regardless, banking on such uncertain prospects &mdash; given the Fed&rsquo;s &ldquo;higher for longer&rdquo; stance &mdash; is risky and complex. Instead, if you&rsquo;re scouting for meme stocks to buy, prioritize those with a clear, viable path to profitability or at least robust fundamentals.



<h2>Tilray Brands (TLRY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/tlry_tilray_1600-300x169.png" alt="In this photo illustration Tilray (TLRY) logo of a Canadian pharmaceutical and cannabis company is seen on a mobile phone and a computer screen."><div>Source: viewimage / Shutterstock.com</div></div>There&rsquo;s finally some momentum among <a href="https://investorplace.com/industries/healthcare/cannabis/">cannabis stocks</a> as the U.S. Drug Enforcement Administration officially pivots its position toward rescheduling with plans to relabel the drug as Schedule III. Pot stocks surged, but among the crop, Tilray Brands (NASDAQ:<a href="https://investorplace.com/stock-quotes/tlry-stock-quote/">TLRY</a>) is the best (former?) meme stock to buy on the news. Shares popped nearly 40% on the news, though; since it&rsquo;s priced within penny stock territory at less than $2.50 per share, there&rsquo;s plenty of room to run.



Beyond the obvious bud-based benefits, Tilray&rsquo;s unique position as the country&rsquo;s <a href="https://tilray.gcs-web.com/news-releases/news-release-details/tilray-brands-closes-transaction-acquiring-eight-beer-beverage">5th largest craft brewer</a> further underscores its potential as a standalone stock, let alone its place on a list of meme stocks to buy. Tilray&rsquo;s portfolio of craft breweries &mdash; and all of the production, marketing and distribution networks it entails &mdash; sets the company apart from its many undifferentiated competitors across two domains.



First, selling popular craft beers helps Tilray diversify revenue streams in the low-margin cannabis industry without spreading itself too thin or over-diversifying. Second, those distribution networks will be useful once cannabis legalization becomes more widespread. Management is already market-testing THC-infused drinks throughout Canada, so when full legalization spreads, the company will be able to rapidly deploy products nationally.



<h2>Bit Digital&nbsp;(BTBT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/shutterstock_772693789-300x169.jpg" alt="Bit Digital (BTBT stock): several rows of processors in a crypto mining farm."><div>Source: PHOTOCREO Michal Bednarek / Shutterstock</div></div>Though Bitcoin&nbsp;(<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) prices are trending downward, don&rsquo;t let that dissuade you from adding Bit Digital&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/btbt-stock-quote/">BTBT</a>) to your list of meme stocks to buy. Like Tilray, Bit Digital is rapidly realigning some operational efforts to pivot away from pure-play crypto mining as the endeavor becomes increasingly costly and margins compress.



Bit Digital operates tens of thousands of mining units and has mined <a href="https://bit-digital.com/investors/">over 6,600 bitcoins</a>, valued at over $430 million today. Of course, this figure pales compared to mega-miners like Riot Platforms&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/riot-stock-quote/">RIOT</a>), which mined a similar amount in 2023 alone. To bridge this gap, Bit Digital is diversifying its revenue streams by venturing into AI-centric infrastructure.



Under the banner of <a href="https://bit-digital.com/wp-content/uploads/2023/12/Bit-Digital-IR-Deck-December-2023.pdf">Bit Digital AI</a>, the company is launching a new business line dedicated to providing specialized infrastructure to support generative artificial intelligence systems and processes on behalf of third-party clients. Essentially, Bit Digital is setting up an array of Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) units within a high-end data center. This setup aims to provide smaller companies access to substantial artificial intelligence capabilities via multiple computing power access points.



This strategy indicates a potential future for digital crypto mining across the sector. With increasing regulations and rising costs, companies may leverage their extensive computing resources to address adjacent challenges. Bit Digital may be a meme stock, but it is also at the forefront of multiple emerging technologies and trends.



<h2>Palantir Technologies (PLTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/pltr1600-4-300x169.png" alt="Palantir (PLTR) company logo on the screen of smartphone"><div>Source: Mamun sheikh K / Shutterstock.com</div></div>At this point, I hesitate even to call Palantir Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/pltr-stock-quote/">PLTR</a>) a meme stock, considering its profitability streak and apparently sales momentum. Still, shares of the ascendant meme stock have dipped recently alongside the wider market, though there isn&rsquo;t a clear catalyst for the decline. The drop may stem from a cooling of sentiment following a strong earnings report that previously boosted the stock. This decrease doesn&rsquo;t represent a significant downturn. Still, it has brought the stock to a level that might be a good buy before it potentially rises again following next week&rsquo;s earnings report.



Historically, Palantir&rsquo;s stock price has fluctuated within a narrow range before experiencing a surge, eventually stabilizing at a new, higher baseline. For a considerable time, this baseline was around $15, but after impressive earnings, it shot to $25 and now seems to be settling at about $20 &ndash; $22. If the upcoming May 6th earnings report aligns with previous patterns, this current dip might be an optimal time to invest in Palantir at a lower price, meme stock or not.



On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy&rsquo;s work can also be found at <a href="https://jeremyflint.work/">www.jeremyflint.work</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-meme-stocks-to-buy-on-the-dip-april-2024/">3 Meme Stocks to Buy on the Dip: April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Meme Stocks to Buy on the Dip: April 2024

AMD Stock Is No Longer Dead Money (Rating Upgrade)

Qualcomm perks up as Q2 results, guidance top expectations

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/stock-types/penny-stocks/">Penny stocks</a> are on the riskier end of the public equity spectrum. They are characterized by their low volume, affordable pricing, and the rapid pace at which their values can surge or plummet compared to more traditional stocks. But, for well-informed investors, penny stocks offer a chance to secure substantial gains on the cheap.



When considering penny stocks, remember to objectively and critically review the company&rsquo;s operational opportunity and its long-term viability. To avoid falling into a &ldquo;pump and dump&rdquo; trap, thoroughly assess the viability of the company&rsquo;s products and confirm the firm&rsquo;s potential for sustained growth. These companies, while not all profitable, still have sufficient positive factors informing a bullish outlook and could see shares surging sooner rather than later.



<h2>Bridger Aerospace (BAER)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/shutterstock_512948026-min-300x169.jpg" alt="picture of a forest with mountains in the distance"><div>Source: shutterstock</div></div>Bridger Aerospace (NASDAQ:<a href="https://investorplace.com/stock-quotes/baer-stock-quote/">BAER</a>), is a relative newcomer to the penny stock scene, having listed in early 2023 and trading nearly 50% below post-SPAC merger completion. Despite this drop, the penny stock is poised for a promising future.



Bridger Aerospace specializes in <a href="https://bridgeraerospace.com/about/">aerial firefighting</a>, providing a fleet of aircraft that support rural wilderness firefighting efforts&mdash;an expansive and diverse industry. To gauge Bridger&rsquo;s potential market, consider California&rsquo;s budget: for the 2022 &ndash; 2023 fiscal year, the state dedicated $3.3 billion to firefighting efforts, including aerial suppression. With wildfires becoming a persistent challenge, funding will likely increase from here.



Although profits remain modest, Bridger reported record end-of-year revenue and income in its <a href="https://ir.bridgeraerospace.com/news-events/press-releases/detail/37/bridger-aerospace-announces-record-2023-results-provides">latest financial statement</a>. Additionally, its fleet achieved record utilization levels as more government agencies, both domestic and international, sought Bridger&rsquo;s services. Despite its small size, Bridger Aerospace stands on solid financial ground with a compelling value proposition in a necessary industry.



<h2>Penny Stocks to Buy: Westrock Coffee (WEST)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/coffee_1600-300x169.jpg" alt="NUZE Stock. A photo of a cup of coffee and some coffee beans and a towel on a wooden table. Coffee stocks"><div>Source: Evgeny Karandaev/ShutterStock.com</div></div>Westrock Coffee (NASDAQ:<a href="https://investorplace.com/stock-quotes/west-stock-quote/">WEST</a>) is also a fairly new penny stock, having completed its SPAC merger in late 2022. Despite debuting amid optimism, its shares currently trade right around the listing price, but recent moves may indicate an imminent upside.



First and most noteworthy, <a href="https://finance.yahoo.com/news/westrock-coffee-insiders-placed-bullish-132205940.html">Westrock insiders</a> are snagging as many shares as they can &mdash; indicating management feels momentum is set to surge. The company&rsquo;s co-founder and chairman recently bought more than $400,000 worth of WEST stock, and the company&rsquo;s insider flows slant heavily to the buy side.



Perhaps management sees a turnaround imminent, as evidenced by the company&rsquo;s recent <a href="https://investors.westrockcoffee.com/news-releases/news-release-details/westrock-coffee-company-reports-fourth-quarter-and-full-year">end-of-year filings</a>. Despite a slight sales slump, the company&rsquo;s profitability prospects improved considerably and lost &ldquo;just&rdquo; $20 million in the fourth quarter, compared to a more sizable $40 million dollar in the previous year&rsquo;s same period. Coffee is a tough sector to penetrate, but as consumer sentiment rebounds and Westrock finds its footing, this penny stock may see itself reenergize rapidly.



<h2>Connexa Sports Technologies (YYAI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-finding-magnify-300x169.jpg" alt="A hand holding a magnifying glass over pennies. under-$1 stocks to buy. penny stocks to buy"><div>Source: Shutterstock</div></div>Connexa Sports Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/yyai-stock-quote/">YYAI</a>) stands out as a unique penny stock tapping into emerging sports trends. The company leverages its proprietary Slinger Bag to target specific sports like pickleball, which is gaining traction in the U.S., padel, popular in Mexico, and the evergreen favorite, tennis. These niche markets allow Connexa to engage consumers directly with targeted, high-quality advertising campaigns, ensuring the longevity and growth of its products. This approach positions Connexa as a promising growth-oriented penny stock, especially as enthusiasm for outdoor sports picks up in the spring and summer.



In 2023, <a href="https://www.connexasports.com/wp-content/uploads/2023/11/Connexa-Shareholder_Ltr_Nov28_9am2023.pdf">short sellers targeted</a> Connexa, driving its share price down by over 70% and necessitating a reverse stock split. However, the tide turned as new strategic investors <a href="https://www.connexasports.com/wp-content/uploads/2024/03/Connexa-Shareholder-Ltr-7-March-2024.pdf">entered the scene</a>, catapulting the stock&rsquo;s value by over 275% since January. This surge indicates strong momentum for Connexa&rsquo;s future prospects, particularly as we enter summer sports season and see greater numbers of consumers readying their gear.



<h2>Penny Stocks to Buy: Clearpoint Neuro (CLPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/healthcare_staffing1600-300x169.png" alt="Medicine and healthcare concept - team or group of doctors and nurses"><div>Source: Supavadee butradee / Shutterstock.com</div></div>Healthcare penny stock ClearPoint Neuro (NASDAQ:<a href="https://investorplace.com/stock-quotes/clpt-stock-quote/">CLPT</a>) is struggling this month, falling about 20% since April 1st. Still, the company&rsquo;s flagship ClearPoint platform aids surgical providers in navigating the brain and related systems to diagnose and treat neurological disorders, meaning its tech has strong potential to expand into existing healthcare networks. At the same time, a string of regulatory approvals could spark a stock surge soon.



The most significant of these approvals <a href="https://www.globenewswire.com/news-release/2024/01/16/2809835/0/en/ClearPoint-Neuro-Announces-FDA-Clearance-for-SmartFrame-OR-Stereotactic-System.html">came from the FDA</a>, which greenlit the clinical use of ClearPoint&rsquo;s SmartFrame OR Stereotactic System. This system enhances the delivery of directed radiation therapy during stereotactic radiosurgery, a non-invasive alternative that targets cancerous areas with radiation to damage cells and shrink tumors without open surgery.



Importantly, this platform can be used in the operating room, moving beyond the previous requirement for an MRI setting. Joe Burnett, President and CEO, emphasized its potential: &ldquo;More than 95% of all stereotactic neuro-navigation procedures occur in the OR. This product, the first in ClearPoint&rsquo;s history not to require MRI use during the procedure, allows us to reach more hospitals and support significantly more patients than our legacy products.&rdquo;



Moreover, ClearPoint also received approval from <a href="https://www.marketwatch.com/amp/story/clearpoint-neuro-gets-eu-ok-for-2-devices-7cd9f5ce">European Union regulators</a> to distribute its existing products on the continent, thereby broadening its market reach and enhancing its total addressable market.



<h2>iRobot&nbsp;(IRBT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/irbt1600-1-300x169.png" alt="iRobot (IRBT) Roomba vacuum cleaner robots powerful cleaning system with intelligent sensors to clean Pet hair, crumbs, dirt, and daily dust"><div>Source: Karolis Kavolelis / Shutterstock.com</div></div>Although its per-share price of about $8 might not categorize it as a penny stock, iRobot (NASDAQ:<a href="https://investorplace.com/stock-quotes/irbt-stock-quote/">IRBT</a>) has a market cap under $250 million, smaller than several stocks on our list. Despite its modest size, iRobot is positioned as a potential comeback story of the year. A shift in circumstances could trigger unstoppable momentum for this robotics stock, irrespective of broader market conditions.



Amazon&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) failed acquisition highlighted the value of iRobot&rsquo;s extensive patent and intellectual property portfolio. Although robotic vacuum sales have <a href="https://www.macrotrends.net/stocks/charts/IRBT/irobot/revenue">recently slowed</a>, iRobot&rsquo;s advanced technology remains attractive to potential acquirers and investors. With the robotics sector undergoing a renaissance, iRobot emerges as one of the few household names poised to capture significant attention from both institutional and retail investors as this trend advances.



Even without banking on mergers and acquisitions, iRobot&rsquo;s future looks promising. The company is actively optimizing its operations to survive in a competitive small-cap market. It recently reported a <a href="https://investor.irobot.com/news-releases/news-release-details/irobot-reports-fourth-quarter-and-full-year-2023-financial">26% improvement</a> in per-share earnings, and despite the boost, iRobot&rsquo;s stock is <a href="https://www.morningstar.com/stocks/xnas/irbt/quote">trading at just 0.27x sales</a>, marking it as a distinctive penny stock value play with substantial growth potential.



<h2>Penny Stocks to Buy: indie Semiconductor (INDI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/semiconductor1600e-300x169.jpg" alt="semiconductor stocks Close-up electronic circuit board. technology style concept. representing semiconductor stocks. top semiconductor stocks to buy now. semiconductor stocks"><div>Source: Shutterstock</div></div>Over the past year, <a href="https://investorplace.com/industries/technology/semiconductor/">semiconductor stocks</a> have surged, but giants like Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) and Taiwan Semiconductor (NYSE:<a href="https://investorplace.com/stock-quotes/tsm-stock-quote/">TSM</a>) face massive overvaluation as demand remains high. As a result, investors are shifting their focus to penny stock semiconductor companies in search of the &ldquo;next big thing.&rdquo; indie Semiconductor (NASDAQ:<a href="https://investorplace.com/stock-quotes/indi-stock-quote/">INDI</a>) stands out in this segment, primarily focusing on semiconductors for automotive and self-driving car applications&mdash;a sector seeing increased demand due to rising new car sales and consumer desires for advanced features like driver assistance and sophisticated infotainment systems.



In 2023, indie Semiconductor <a href="https://www.businesswire.com/news/home/20240222697156/en/indie-Semiconductor-Achieves-Record-Fourth-Quarter-and-2023-Results">achieved a record revenue</a> of $223.2 million, marking a surge of over 100%. Moreover, the company&rsquo;s profit margins impressively reached 52.5%, showing an improvement of more than 2.5% from the previous year. This expansion in margins demonstrates that indie Semiconductor is not only adapting to changing economic conditions but is also excelling by enhancing efficiencies and reducing costs without compromising on quality.



<h2>Lithium Americas (LAAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/lithium-americas-lac-1600-300x169.jpg" alt="smartphone with logo of Canadian company Lithium Americas Corp on screen"><div>Source: Wirestock Creators / Shutterstock.com</div></div>Lithium Americas (NYSE:<a href="https://investorplace.com/stock-quotes/laac-stock-quote/">LAAC</a>) is among the penny stocks making notable moves this year, even amid a sluggish lithium market. However, trends could pivot in 2024, potentially propelling this Argentinian-focused mining stock upward. The demand for lithium, largely fueled by battery innovation and renewable energy shifts, is expected to increase by over <a href="https://www.mckinsey.com/industries/automotive-and-assembly/our-insights/battery-2030-resilient-sustainable-and-circular">30% annually</a> through 2030.



Like its industry peers, Lithium Americas faced challenges in 2023 with slow demand and <a href="https://www.cnbc.com/2023/08/29/a-worldwide-lithium-shortage-could-come-as-soon-as-2025.html">significant oversupply</a>, leading to depressed spot prices. However, demand is picking up speed, and some analysts are forecasting an upcoming undersupply, which could push spot prices higher, favoring Lithium Americas.



Enhancing this outlook, Argentina&rsquo;s new president, Javier Milei, is boosting optimism around the lithium-rich region&rsquo;s mining prospects. He aims to <a href="https://www.bloomberg.com/news/articles/2023-12-21/milei-offers-red-tape-relief-for-mines-in-argentina-deregulation">ease operational barriers</a> for mining and has even <a href="https://www.reuters.com/world/americas/musk-argentine-president-see-eye-to-eye-boosting-free-markets-lithium-2024-04-12/">discussed this potential</a> with Elon Musk, considering lithium&rsquo;s crucial role in electric vehicle production.



Trading <a href="https://www.morningstar.com/stocks/xnys/laac/valuation">below its book value</a> and at a reduced price-to-forward earnings ratio compared to recent years, Lithium Americas presents itself as a compelling commodity penny stock poised for significant gains as market and economic forces realign.



On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the <a href="http://InvestorPlace.com">InvestorPlace.com</a> <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy&rsquo;s work can also be found at <a href="https://jeremyflint.work/">www.jeremyflint.work</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/7-penny-stocks-that-could-make-you-a-fortune-if-you-dare/">7 Penny Stocks That Could Make You a Fortune (If You Dare) </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Penny Stocks That Could Make You a Fortune (If You Dare)

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