The Nasdaq Composite reached a new record high yesterday but is experiencing minor declines this morning. Analysts from HSBC are optimistic about Advanced Micro Devices (AMD), suggesting its AI chip development may rival Nvidia's dominance. AMD holds a 'buy' rating with a target price of $200, indicating substantial upside. Additionally, the U.S. government has imposed a 50% tariff on Brazilian imports. Despite fluctuations, the major stock indices show little overall movement. MP Materials saw a 55% stock increase following a significant Defense Department contract related to rare Earth materials.
HSBC analysts have their eye on Advanced Micro Devices (Nasdaq: AMD), saying its recent AI chip solution has thrust it into the AI spotlight, potentially giving AI Nvidia (Nasdaq: NVDA) a run for its money. HSBC has attached a "buy" rating on AMD shares with a bullish price target of $200 per share, reflecting upside potential of approximately 44%.
The Trump administration isn't done slapping tariffs on trade partners, the most recent of which involves a 50% tariff on Brazilian imports. On the economic front, U.S. jobless claims moved lower last week, surprising economists amid mixed signals from the labor market.
The markets are meandering in and out of positive territory after the Nasdaq Composite clinched a fresh all-time high in yesterday's session. As of early morning trading, the three major stock market indices are relatively flat.
MP Materials (NYSE: MP) stock is soaring 55% after the company inked a rare Earth-mining contract with the Department of Defense to strengthen the U.S. magnet supply. The deal is reportedly worth billions.
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