News Formal

Wall St Week Ahead: Surging US megacap stocks leave some wondering when to cash out

  • 📰 Reuters
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

As the U.S. stock market continues its climb, investors holding shares of the massive tech and growth companies leading the charge are debating whether to cash out or stay on for the ride.

Jay Hatfield, CEO of hedge fund InfraCap, believes excitement over AI will keep boosting megacap stocks. He is overweight megacaps, including Nvidia, Microsoft and Google-parent Alphabet“We 100% believe in the AI boom,” Hatfield said. “I would be shocked if by the end of the year these stocks are not significantly higher.

The recent surge in Nvidia showed how a stock can keep climbing even after posting hefty gains. Shares were already up 109% heading into its May 24 earnings report, but rose another 30% in the past week after the chipmaker's surprisingly upbeat sales forecast.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street futures point higher on debt deal, but some tremors in retailGlobal benchmarks were mostly higher Thursday after the United States House of Representatives approved a debt ceiling and budget cuts package, avoiding a default crisis.
Source: wjxt4 - 🏆 246. / 63 Read more »