Chip stocks AMD and Nvidia are among the most overbought stocks on Wall Street amid A.I. craze

Some of the most overbought stocks this week on Wall Street are chipmakers, as investors piled into the artificial intelligence play after Nvidia's blockbuster quarter. Nvidia and Advanced Micro Devices are just two of the names that investors snapped up. While Nvidia only reported earnings Wednesday night, the semiconductor firm's market value has since surged to just under $1 billion — adding roughly $200 billion in not even two days of trading.

Chipmakers dominated the list of overbought names, with shares of Advanced Micro Devices and Broadcom surging 20% and 19% this week, respectively. AMD topped the list, with a a 14-day RSI of 89.72, according to FactSet data. Bank of America hiked its price target on the company , saying it's poised to take a larger slice of the AI market. However, it reiterated a neutral rating on the stock. Broadcom has a 14-day RSI of 84.36, FactSet data showed.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

AI chip boom sends Nvidia's stock surging after whopper of a quarter | CNN BusinessThe AI boom is here, and Nvidia is reaping all the benefits. Shares of Nvidia exploded 28% higher Thursday after reporting earnings and sales that surged well above Wall Street’s already lofty expectations.
Fuente: cnni - 🏆 326. / 59 Leer más »

Wall Street ends higher as Nvidia sparks rush for AI stocks By Reuters*NASDAQ JUMPS OVER 1% TO NEW 52-WEEK HIGH AS NVIDIA FORECAST SPARKS AI-DRIVEN RALLY $DIA $SPY $QQQ $IWM 🇺🇸🇺🇸
Fuente: Investingcom - 🏆 450. / 53 Leer más »

Wall Street reacts to Nvidia's jaw-dropping AI-boom earnings reportThe 'AI revolution has begun': Here's how Wall Street is reacting to Nvidia's jaw-dropping earnings report that added $230 billion to its market value
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Wall Street ends higher as Nvidia sparks rush for AI stocksThe Nasdaq ended sharply higher after a blowout forecast from Nvidia sent the chipmaker's stock soaring and fueled a rally in AI-related firms $NVDA
Fuente: Reuters - 🏆 2. / 97 Leer más »