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

📆 03/06/2023 02:47:00
📰 Reuters

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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.

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