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New Delhi: Nine of the top-10 most valued firms together added Rs 2,01,552.69 crore in market valuation last week, with <keyword id="19951944" type="General" weightage="100" keywordseo="Bharti-Airtel" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Airtel" meta.hostid="153" meta.entityid="Bharti Airtel">Bharti Airtel</keyword> stealing the show, amid bullish investors' sentiment in equities. Last week, the BSE benchmark jumped 1,707.01 points or 2.10 per cent. The 30-share BSE Sensex hit its lifetime high of 83,116.19 on Thursday. Bharti Airtel's valuation jumped Rs 54,282.62 crore to Rs 9,30,490.20 crore, becoming the biggest gainer among the top-10 firms. The market capitalisation (mcap) of <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="153" meta.entityid="ICICI Bank">ICICI Bank</keyword> surged Rs 29,662.44 crore to Rs 8,80,867.09 crore. <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="153" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS) added Rs 23,427.12 crore taking its valuation to Rs 16,36,189.63 crore. The mcap of Hindustan Unilever soared Rs 22,438.6 crore to Rs 6,89,358.33 crore and that of <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="153" meta.entityid="HDFC Bank">HDFC Bank</keyword> zoomed Rs 22,093.99 crore to Rs 12,70,035.77 crore. The market valuation of Infosys climbed Rs 17,480.49 crore to Rs 8,07,299.55 crore and that of ITC rallied Rs 15,194.17 crore to Rs 6,42,531.82 crore. The valuation of <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="153" meta.entityid="Reliance Industries">Reliance Industries</keyword> jumped Rs 9,878.19 crore to Rs 19,92,160.61 crore and that of State Bank of India went up by Rs 7,095.07 crore to Rs 7,05,535.20 crore. However, the mcap of Life Insurance Corporation of India (LIC) declined by Rs 3,004.38 crore to Rs 6,54,004.76 crore. Reliance Industries was leading the chart of the top-10 most valued firms followed by TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, LIC and ITC.

Mcap of nine of top-10 most valued firms jump Rs 2 lakh crore, Bharti Airtel leads the surge

<ul class="summary-list"><li>Nvidia is set to launch its next-gen Blackwell GPU chip, boosting the prospect for more stock gains.</li><li>Melius Research said selling Nvidia stock now would be akin to selling Apple stock after the release of its first iPhone.</li></ul><a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a> has rocketed to all-time highs, but investors should hold on a while longer as the company's next-generation Blackwell GPU will be a watershed moment, a note from Melius Research this week said.Ben Reitzes, a managing director at Melius, bumped his Nvidia price target to $185, representing potential upside of 26% from current levels.Reitzes believes Nvidia is approaching its <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> iPhone moment, and that selling now would be akin to selling Apple stock after it released the first generation iPhone."It's similar to the feeling around product cycles with Apple's iPhone some 15 years ago, just on a different scale. So, while it sounds strange, giving up on Nvidia here after its hit — Hopper — is like giving up on Apple at iPhone 1 or 2," Reitzes said, referring to the current generation Hopper chip.Nvidia stock has been a tear ever since <a target="_blank" class="" href="https://www.businessinsider.com/openai-steps-up-google-challenge-launches-chatgpt-search-tool-2024-10">OpenAI released ChatGPT</a> in November 2022. Since then, Nvidia has soared nearly 800% to become the largest company in the world, with a market capitalization of over $3.5 trillion.Nvidia's Hopper and upcoming Blackwell GPU chips represent the foundation of artificial intelligence advancements, which are powering everything from AI chatbots like ChatGPT to text-to-video and self-driving cars. "Big clouds, sovereigns and large enterprises are still more likely to invest more in this 'once-in-a-lifetime opportunity," Reitzes said.And Nvidia's enviable position means big profits are in store for its investors, according to the note."We are not only excited about Blackwell driving upside to the street in 2025 — and <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-unveils-rubin-chip-ai-platform-2024-6">Rubin in 2026</a> — but we are also increasingly optimistic that gross margins can snap back firmly into the mid-70s by mid-FY26," Reitzes said.Nvidia could earn more than $5 per share in profits by 2027, which "looks conservative now," according to the note. Reitzes increased his revenue and profit estimates for 2025 through 2027 for Nvidia, citing higher gross margins and continued investments from cloud hyperscalers.And at those profit levels, Nvidia stock looks attractive from a valuation standpoint."Even with a decelerating growth rate on huge numbers, Nvidia's CY2025 PEG ratio stands at about 0.8x on our estimates. This ratio is 33% less than Broadcom's and the lowest in the Mag 7 by a wide margin," Reitzes said.Nvidia stock is up 197% year-to-date and trading about 2% below its record high of $149.77 per share.

Nvidia stock has 25% upside as it approaches an iPhone moment with its Blackwell chip, analyst says

<ul class="summary-list"><li>Trump's election win boosts bitcoin's value to over $80,000 for the first time.</li><li>The president-elect's campaign was partially fueled by his crypto-friendly pledges.</li></ul>Richard Teng, the CEO of Binance, has said Donald Trump's success in the presidential election is a "big win for crypto" as bitcoin's market value surges.The boss of the world's largest crypto exchange told the <a target="_blank" class="" href="https://www.ft.com/content/b7ee8186-1778-4b16-bee8-279c03923a66?accessToken=zwAGJqFwX4vgkdO37oGGF3hLFtO-6CecA5I6Zg.MEUCIQDhduUl950JTUHHQjVJdEMt0r0rs0cdUFOF7xq7rXD5NAIgMHy3hUDMkyzSx8s6_yDkX6JeY5Gb2XFRC3FhYJIiFJ8&amp;sharetype=gift&amp;token=e1527617-c8fd-42df-8e0e-aef7b7a4ba6b">Financial Times</a> that his second term in the White House signaled the beginning of a "golden era" for the industry. Teng added that Trump's victory would lead to a rise in new regulators open to virtual currencies.<a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-reaches-80000-for-first-time-trump-election-crypto-2024-11">The price of bitcoin has risen over $80,000</a> for the first time following the president-elect's win over Kamala Harris last week. It's up by over 80% this year.Formerly a skeptic for years of crypto, Trump criticized bitcoin as "not money" and "highly volatile and based on thin air."But during his campaign, <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11">he became a staunch supporter</a> of the digital currency, promising to make the US the "crypto capital of the planet."Trump's recent electoral success was partially fueled by crypto-friendly pledges that resulted in <a target="_blank" class="" href="https://www.businessinsider.com/trump-pac-raised-millions-crypto-donations-since-june-2024-10">millions of dollars in donations</a> to his campaign, which accepted payments made in digital currencies.One PAC called Trump 47 raised around $7.5 million in bitcoin, ether, XRP, and other cryptocurrencies.The soon-to-be 47th president of the US is dedicated to creating a bitcoin stockpile and has proposed launching a crypto advisory council.Bitcoin's surging price has more than quadrupled its market capitalization since the start of 2023, from around $318 billion to a record $1.6 trillion, per CoinMarketCap data.The digital currency is now more valuable than Mark Zuckerberg's Meta, worth nearly $1.5 trillion, and Elon Musk's Tesla and Warren Buffett's Berkshire Hathaway, worth around $1 trillion each.Ether, the second-most valuable crypto, has more than doubled in market cap from around $150 billion at the start of 2023 to around $385 billion today.

Binance CEO calls Trump's election victory a 'big win for crypto' as bitcoin hits a new high

<ul class="summary-list"><li>David Kostin is seeing similarities to the dot-com bubble as "superstar" firms boost the market.</li><li>Record-high market concentration will lead to a decade of weak returns, the strategist said.</li></ul>David Kostin is no stranger to the ups and downs of the stock market.The Goldman Sachs chief US equity strategist has seen multiple economic boom-bust cycles during his more than 35 years on Wall Street. And right now, Kostin sees two striking similarities between today's market and the dot-com bubble — conditions that could lead to a decade of lackluster returns for the S&amp;P 500 just as they did after 2000, he told Business Insider in an exclusive interview.First, market concentration is at an all-time high, meaning that the performance of the S&amp;P 500 is disproportionately driven by just a few stocks. This is due to the rise of what Kostin calls "superstar" firms with economies of scale, such as the Big Tech companies whose valuations have spiked this year thanks to the development of AI.Today, the 10 largest stocks in the S&amp;P 500 make up 36% of the entire index by market capitalization."We're at a level of concentration in the US market today that we haven't really seen since the tech bubble. It's even more concentrated than it was 20 years ago," Kostin said.In fact, the US equity market is at its highest concentration in 100 years.<div type="image" title="Goldman Sachs US equity market concentration" height="642" width="689" msid="114979384" hostid="261" sizebytes="44834"></div>Risks become less diversified, and volatility increases in a concentrated market, which is why Kostin is skeptical that the largest companies in the index will maintain their premium valuations going forward.Second, Kostin sees a large valuation gap between the top 10 stocks and the rest of the index.The largest 10 stocks in the index trade with a median price-to-earnings ratio of 31. Meanwhile, the other 490 stocks have a median P/E ratio of just 19.<div type="image" title="Goldman Sachs chart showing 10 largest stocks trading at 31x P/E compared to 19x for the rest of the market." height="730" width="882" msid="114979385" hostid="261" sizebytes="38416"></div>That means for the top stocks, the earnings yield — a metric measuring the expected return on investment, calculated by taking the inverse of the P/E ratio — is lower compared to the rest of the market. A stock with a P/E ratio of 31 has an earnings yield of 3.22%, meaning that every dollar invested in the stock would generate earnings per share of 3.2 cents. A stock with P/E ratio of 19 has an earnings yield of 5.26%, meaning that investors are receiving more earnings for every dollar they put in.This gap between the top S&amp;P 500 performers and the rest of the index hasn't occurred since the dot-com bubble."The valuation of the largest stocks in the market have a negative risk premium to bonds, and that has not happened for 20 years," Kostin added.That means the top 10 stocks in the index actually have a negative return in excess of the risk-free <a target="_blank" href="https://markets.businessinsider.com/bonds">10-year Treasury</a> yields. The 10-year has a nominal yield of 4.28% compared to the top 10's 3.22%, which is approximately a 1% negative risk premium.<h2 id="3daaf9d0-47d8-48dc-b7f5-64d833e2a83c">The next decade</h2>The ultra-high concentrations in the market today happened over several years, so Kostin isn't expecting the market to broaden overnight. But the current disjunction simply isn't sustainable for the long term, he said. Higher concentration is typically associated with increased volatility in the near term and <a target="_blank" href="https://www.businessinsider.com/stock-market-crash-why-sp500-decade-weak-returns-goldman-jpmorgan-2024-11">lower returns</a> over long time horizons.That's why Kostin predicts that the S&amp;P 500 will generate a 3% annualized nominal total return through 2034 — well below the index's long-term average of 11%."The S&amp;P 500 has roughly a 72% probability of trailing bonds and a 33% likelihood of lagging inflation through 2034," Kostin and his team wrote in a recent note.<div type="image" title="Goldman Sachs is predicting a decade of low returns." height="442" width="701" msid="114979383" hostid="261" sizebytes="27106"></div>Superstar firms propelled the S&amp;P 500 to new highs in 2024, but maintaining that level of growth in the future will be difficult, especially when valuations are already so elevated, according to Kostin."The expectation of revenue growth for these companies is 20%, and the stocks trade at high multiples reflecting that growth rate. So the risk is ultimately, can the companies deliver on these extremely high levels?" Kostin said. "The evidence is strongly in support of the fact that growth rates for high revenue growth companies tend to fade," he added.Today's valuations price in double-digit growth, but that's not a realistic outcome, in Kostin's view. When sales and earnings growth for the biggest companies eventually cool, these valuations will come down, and the overall index will decelerate as well.Kostin pointed to companies like Intel, Microsoft, and Cisco, which saw incredible runups as investors priced in aggressive revenue expectations during the dot-com heyday. When these companies failed to meet these lofty expectations, valuation multiples compressed significantly.Although Kostin is predicting a decade of lower-than-average growth for the S&amp;P 500, he's still optimistic about the overall state of the economy as the unemployment rate is holding steady at 4.1% and the US consumer is strong.While the overall market is shaping up to see lower-than-expected returns for the next decade, that doesn't mean there aren't pockets of opportunity for investors to seek <a target="_blank" href="https://www.businessinsider.com/how-to-beat-stock-market-returns-next-decade-goldman-sachs-2024-10">higher returns</a>. As the gap between the largest stocks and the rest of the market subsides going forward, the typical stock is positioned to perform better than the current market leaders.For that reason, Kostin is expecting the S&amp;P 500 equal-weight SPW index to outperform the market-cap-weighted S&amp;P 500.Kostin also identified mid-cap stocks as a big beneficiary of a broadening market. In his view, <a target="_blank" href="https://www.businessinsider.com/next-big-stocks-to-buy-unflashy-mid-caps-investing-parnassus-2024-10">mid-cap stocks</a> are much more reasonably valued than the overall S&amp;P 500 and have historically performed well in a rate-cutting environment, making them a compelling investment opportunity.

Goldman's top equity strategist tells BI 2 similarities between today's market and the dot-com bubble — and what it means for your portfolio

<ul class="summary-list"><li>Sherwin-Williams will join the Dow Jones Industrial Average on November 8.</li><li>Sherwin-Williams has a market cap of $90.15 billion.</li></ul>Your neighborhood paint company just made it to the Dow Jones Industrial Average.<a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/investing/what-is-dow-jones">The Dow Jones Industrial Average</a> is one of the oldest stock market indexes. It includes 30 of the most influential and capitalized companies in the US economy.S&amp;P Dow Jones Indices announced on Friday that it will add <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/shw-stock">Sherwin-Williams</a> to the index to "ensure a more representative exposure" to the materials industry.The paint company will replace Dow Inc., a materials science company, before trading opens on November 8.Here's everything you need to know about Sherwin-Williams.<h2 id="8c5ff687-9825-4fd9-8d54-3e4d256af199">All about The Sherwin-Williams Company</h2>Founded in 1866 by Henry Sherwin and Edward Williams, the company is headquartered in Cleveland and employs over 64,000 people.Sherwin-Williams boasts of several innovations in the painting industry, including the first resealable paint can and the first ready-mixed paint. It later introduced the paint can shaker, which could mix five gallons of paint so customers could purchase more.It is now run by Heidi Petz, who was named CEO and president at the start of 2024 after serving as the company's chief operating officer and president. She replaced former CEO John Morikis, who has continued to serve as the executive chairman.The company has over 5,000 company-operated store locations in the US, Canada, Latin America, and the Caribbean. It also sells additional paint brands through retailers and distributors in Europe, Australia, New Zealand, and China.Despite being selected for the Dow Jones Industrial Average, the company's profits grew slower than expected in the most recent quarter. In its third-quarter earnings call in October, the company fell short of expectations, posting profits of $3.37 a share instead of a predicted $3.55 a share."In what remains a tough macroeconomic environment, our strategy continues to be providing our customers with differentiated solutions that make them more productive and profitable," Petz said at the time, highlighting "continued softness in the North American DIY market."Petz said it invested "ahead of the curve" in the third quarter, making "near-term investments in stores, sales and technical reps, expanded services and digital capabilities" to generate growth."Our team is focused, determined, and experienced, and we will continue to aggressively pursue above-market growth while controlling what we can control," Petz said.As of November, Sherwin-Williams has a market capitalization of $90.15 billion.

Sherwin-Williams: Everything you need to know about the neighborhood paint store that made it to the DJIA

<ul class="summary-list"><li>Berkshire Hathaway cut its Apple stake by 55% in the first half of 2024, potentially missing out on $23B in profits.</li><li>If Berkshire had not trimmed its position in Apple, its stake would be $210B at current prices.</li></ul>Berkshire Hathaway <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-stock-price-plunge-warren-buffett-cuts-stake-berkshire-hathaway-2024-8">slashed its Apple position by 55%</a> in the first half of 2024, even as the iPhone maker's stock traded at or near record highs.Calculations by Business Insider suggest <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway's</a> sales of Apple stock in the first and second quarters of this year resulted in about $23 billion in missed profits for Warren Buffett's conglomerate.Berkshire Hathaway entered 2024 with a massive stake in <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>, holding 905.6 million shares worth about $174 billion at the time.At current prices, that stake would have been worth about $210 billion. Instead, Berkshire Hathaway's current stake in Apple was worth $84 billion at the end of the second quarter.Berkshire Hathaway trimmed its Apple stake by 13% in the first quarter, selling about 116.2 million shares. In the second quarter, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/apple-stock-price-plunge-warren-buffett-cuts-stake-berkshire-hathaway-2024-8">it sold 389.7 million shares.</a>Since the second quarter, shares of the iPhone maker have soared about 10% <a target="_blank" class="" href="https://www.businessinsider.com/iphone-demand-shipments-holidays-apple-intelligence-analysts-optimistic-2024-10">to record highs</a> around $232 per share as investor excitement grows around the company's Apple Intelligence technology fueling growth in its hardware sales. Because it's impossible to know exactly what price Berkshire Hathaway sold the Apple shares at, Business Insider relied on the average share price of Apple stock in the first and second quarters as the sales price.The calculations suggest Berkshire sold its 505.9 million shares of Apple at a weighted average price of about $186.15 per share in the first half of 2024.The difference between the weighted average price and the price of Apple stock on Thursday nets out the $23.1 billion in missed profits for Berkshire Hathaway.That's not to say it was a bad trade on Berkshire's part. It's nearly impossible to perfectly time an exit out of such a massive stake, and Berkshire's Apple trade will go down as one of its best in history.Berkshire started building a stake in Apple in the first quarter of 2016, and according to data from HedgeFollow, its estimated average buy price is $39.59 per share.Since then, Apple shares have soared 485%.What's even more impressive is that Berkshire Hathaway started building its massive stake in the tech giant when it was already the largest company in the world as measured by market capitalization.Few investors knew how much bigger Apple could get from there, except for Buffett.

Warren Buffett's Berkshire Hathaway may have left $23 billion on the table by trimming Apple stock earlier this year

<ul class="summary-list"><li>Tesla stock is down 7% since it reported third-quarter vehicle deliveries on Wednesday. </li><li>JPMorgan sees the stock drifting even lower, by as much as 48% to its $130 price target.</li></ul>JPMorgan raised its price target for Tesla stock — but the bank still sees shares of Elon Musk's electric carmaker falling almost 50% in the coming year. <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/TSLA-stock">Tesla</a> stock is down 7% since it reported <a target="_blank" class="" href="https://www.businessinsider.com/tesla-q3-deliveries-preview-wall-street-expects-beat-mojo-returns-2024-9">third-quarter vehicle deliveries</a> on Wednesday, but JPMorgan thinks it can go much lower.In a Thursday note, the bank set its December 2025 Tesla stock price target to $130, representing potential downside of 48% from Wednesday's close.That target is a slight increase from the bank's prior target of $115 a share.According to <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a> analyst Ryan Brinkman, Tesla could be on the verge of not growing its full-year unit volumes for the first time ever."The continued softer trend now appears to position Tesla to potentially not grow full year unit volumes for the first time in its history, which we estimate could cause incrementally more investors to reconsider the company's growth stock multiple," Brinkman said.Year-to-date, Tesla has delivered 1.29 million vehicles. To exceed its 2023 vehicle delivery volumes of 1.81 million vehicles, the company would have to deliver more than 520,000 vehicles in the fourth quarter, which is more than what Wall Street analysts expect.Consensus estimates on Wall Street are tracking at about 500,000 vehicle deliveries in the fourth quarter, Wedbush analyst Dan Ives said.Meanwhile, the most vehicles Tesla has ever delivered in a quarter is 484,507, which occurred in the fourth quarter of 2023.Brinkman believes Tesla's potential inability to grow vehicle deliveries this year, which CEO Elon Musk has previously said should grow at an annual rate of 50% for the long term, could cause investors "to pay more attention to the growing gap between fundamentals and valuation."And even with its $130 price target, Brinkman believes that's a generous valuation for the automaker."Despite implying material downside risk, we feel our valuation analysis, nevertheless, generously values Tesla as the world's most valuable automaker, given it is suggestive of a ~$400 market capitalization vs. Toyota $290 bn despite considerably less earnings and cash flow and given the company's stalled automotive growth over the past two years makes it harder to embrace the hyper growth story," Brinkman concluded.Of course, while Brinkman has been a longtime Tesla bear, the bulls view it as less of a traditional automaker and more of a technology company.Tesla is set to host an event on October 10 to showcase its robotaxi plans. Meanwhile, Tesla bull Adam Jonas of Morgan Stanley has speculated that Tesla can grow its valuation by selling its own phone and even drones."Is it just me, or are you seeing more 'breadcrumbs' from Tesla's CEO that could potentially connect Tesla with aviation?" Jonas asked in a note earlier this week.This differing view among analysts — over whether Tesla is an automaker or a tech company — explains the widening gulf between price targets among the bears and the bulls. Jonas has a $310 price target for Tesla stock, more than double Brinkman's $130 target.

JPMorgan just raised its price target for Tesla — but it still expects a 48% crash in the stock

<ul class="summary-list"><li>Intel has been driving lots of retail chatter and stock purchases in recent days.</li><li>The chipmaker's stock has tanked this year, and a poorly timed investment has tickled Reddit users.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/gamestop-roaring-kitty-gme-stock-price-rally-meme-traders-wallstreetbets-2024-6">GameStop</a>. <a target="_blank" class="" href="https://www.businessinsider.com/bed-bath-and-beyond-rise-and-fall-photos-2020-1">Bed Bath &amp; Beyond</a>. Intel?The microchip maker isn't an obvious choice to become the next big meme stock, but it's generating a bunch of buzz on Reddit's WallStreetBets subreddit.Early on Thursday, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/intc-stock">Intel</a> ranked fifth on <a target="_blank" class="" href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">Swaggy Stocks</a>' list of trending stocks on WSB over the past week, and sixth on <a target="_blank" class="" href="https://apewisdom.io/wallstreetbets/">Ape Wisdom</a>'s list for the past 24 hours.Retail investors have also been piling money into the chipmaker. Vanda Research's retail flow tracker shows it was the fifth most popular stock in the five trading days through August 13, attracting $162 million in net retail purchases.Intel only trailed <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-secret-sauce-regulators-gpu-chips-jensen-huang-2024-7">Nvidia</a> ($1.4 billion), AMD ($259 million), Palantir ($189 million), and <a target="_blank" href="https://www.businessinsider.com/tesla">Tesla</a> ($164 million). It outpaced the likes of <a target="_blank" href="https://www.businessinsider.com/apple">Apple</a> ($155 million) and Microsoft ($147 million).Vanda analysts noted that overall net retail purchases have surged this month, "far exceeding even our most bullish expectations" as investors capitalized on the "chunkiest dip since April." Demand has cooled since the start of August but purchases continue to hover near a 12-month high of $1.4 billion a day, the analysts added.<h2 id="6147f58a-e5b6-4b95-915b-ddb73c3e2d40">Why Intel?</h2>Intel stock has plunged by about 60% this year to about $20, its lowest level in over a decade. On August 2, it <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/intel-stock-price-layoffs-weak-guidance-missed-analyst-estimates-semiconductors-2024-8">tanked as much as 30%</a> — its steepest one-day decline in over 30 years — after Intel's second-quarter earnings revealed plans to lay off some 15,000 staff, or 15% of its total workforce, and guided toward lower revenues than Wall Street expected.The company's net assets were valued at $115 billion at the end of June, about $30 billion higher than its current market capitalization.Meme-stock investors are known for finding beaten-down stocks to purchase en masse, but they also love to buy into funny stories and back colorful characters like GameStop guru <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/gamestop-investor-deepfuckingvalue-roaring-kitty-reddit-stocks-wall-street-2021-1-1030022004">Keith "Roaring Kitty" Gill</a>.In Intel's case, some of the excitement seems to have been sparked by a WSB post from the user u/Sad_Nefariousness10. In a <a target="_blank" class="" href="https://www.reddit.com/r/wallstreetbets/comments/1ehjuzj/i_bought_700k_worth_of_intel_stock_today/">post</a> on August 1, the user claimed they'd received an $800,000 inheritance from their grandmother, had invested $700,000 of it in Intel that day, and planned to hold the chip stock for at least 10 years.It appears to have been a dismally timed purchase, given Intel crashed by over a quarter after the market closed that day. The user <a target="_blank" class="" href="https://www.reddit.com/r/wallstreetbets/comments/1eiktnw/ok_i_definitely_picked_the_wrong_day_to_buy_intel/">posted</a> an update the next day showing their investment had shrunk by $204,000 on paper to below $500,000, but they still planned to hold the stock for the next decade. BI was unable to confirm the posts' veracity.The user's ill fortune sent the forum into fits of laughter, but appears to have spurred others to get in on the joke by investing large sums in Intel stock.BI spoke to four Reddit users who've claimed in recent posts on WSB to have invested in Intel stock. BI has not verified their claims so they should be treated with skepticism. Here are their comments on Intel, lightly edited for length and clarity:<h2 id="47a56c4f-589b-4a63-b3f8-fa0b49fef9a7">1. u/Smallmem</h2>"I'm investing big into Intel primarily because it's a cheap stock basically trading at book value, and investing into it is a bet against international trade; if the US decides to not be completely reliant on <a target="_blank" class="" href="https://www.businessinsider.com/chip-tsmc-taiwan-semiconductor-trillion-market-cap-nvidia-ai-asml-2024-7">Taiwan Semiconductor</a>, which I believe it must, Intel stock will rise quickly."The Intel Grandma post was an incredible post because of the incredible timing. You have someone invest $700k of their inheritance into stocks, not even options, and it plummets down $200k by the end of the day; it's hilarious. And the framing of it being his grandma's inheritance has proven even funnier."WallStreetBets has always been about people gambling stupid large sums of money into dumb investments, and it's even funnier when it's in a currently failing company like Intel. I personally posted myself buying Intel because I felt for the kid; he made a gigantic play as his first investment and lost a bunch of money immediately."While most of WallStreetBets (including me) throw money in the trash playing options hoping to score millions and make a funny post on Reddit when we lose, he was planning to set and forget INTC for 10 years! It was terribly unfortunate timing that did him in. He's still holding INTC though, which shows his commitment! I wish him the best."u/Smallmem told BI he's 22, studying for a master's in computer science, and owns around $20,000 of Intel stock. He said Intel is unlikely to take off like other meme stocks as its market value is too high, and there are fewer casual investors who are bored and stuck at home than during the pandemic. But he suggested the buzz around the stock could lead professional investors to buy in, pushing up its price.<h2 id="1dc7ac34-5ef3-4e02-9611-ecbfe9818ac0">2. u/randomGov</h2>"I can buy a 1) nationally strategically important company, 2) with a huge moat (only a few can spend 100+ billion to compete), 3) for less than its TANGIBLE book value, 4) that has spent more than its current market cap on capex into fabs (good chance of future significant returns), 5) making stuff (chips) the future (AI, EVs, and other tech) is built on, 6) with a good chance of being a tech leader."u/randomGOV <a target="_blank" class="" href="https://www.reddit.com/r/wallstreetbets/comments/1ere2ri/the_halfregarded_grandson/">posted</a> an unconfirmed screenshot of his portfolio showing a $227,000 investment in Intel.<div type="image" title="Laptops with Intel chips on display at CES 2024 in Las Vegas." height="683" width="1024" msid="112566306" hostid="261" sizebytes="72748"></div><h2 id="a324d94e-299a-4ffe-b4af-cf781652477a">3. u/wedge754</h2>"I think it has the potential to become a meme stock, it's not there yet. I think it's oversold and people are forgetting how broad Intel's market actually is. Intel is the US largest chip manufacturer, I don't see them going down without a fight. Most importantly, I'm thinking a new CEO is on the horizon. Intel has a ton of upside potential if they can just get their act together."I've been watching Intel since the COVID/AI boom and how Intel basically stagnated. The recent big drop seemed like the time to jump in — I'm hoping the negative attention puts pressure on them to restructure. The meme posts are just icing on the cake."u/wedge754 told BI he's invested about $25,000 into Intel.<h2 id="9f2bce18-f869-47a7-8817-a1dcfb4a6d98">4. dc_chilling17</h2>"I'm betting big because the outlook for the company is super bright. The market is putting too much weight on margin pressure, which is a direct result of their capex buildout for their foundry business. When the market realizes that Intel is going to be the Fedex to <a target="_blank" class="" href="https://www.businessinsider.com/chip-tsmc-taiwan-semiconductor-trillion-market-cap-nvidia-ai-asml-2024-7">TSMC</a>'s UPS, and that the margins are being squeezed due to a perfect storm of events vs a flaw in the business itself, things will turn around."They will IPO Altera for north of $30 billion. Mobileye is probably worth $15-20 billion a year from now. Back those out, you're telling me that one of the largest chip companies in the world by revenue, with a monopoly on manufacturing with respect to the West, is worth $30-40 billion?"Meanwhile <a target="_blank" class="" href="https://www.businessinsider.com/lisa-su-amd-billionaire-jensen-huang-nvidia-cousin-2024-4">AMD</a>, their little brother with a fraction of the market share and no fabs is worth $220 billion? It's just a market dislocation. I bought Exxon at $39, <a target="_blank" href="https://www.businessinsider.com/meta">Meta</a> at $89, and now Intel at $19. The play is obvious. The market will wake up to it."dc_chilling17 told BI he has a $1.1 million position in Intel.

Intel is having a meme-stock moment. 4 retail investors explain why they're betting on the chipmaker. 

<ul class="summary-list"><li>Morgan Stanley has added three new high-quality defensive stocks to its "Fresh Money Buy List."</li><li>These names could help investors hedge against macro uncertainty as markets await fresh growth data.</li></ul>Morgan Stanley expanded its list of recommended equities with three high-quality stocks, as the bank veer further into defensive positioning.These names could help shield against ongoing macro uncertainty, which Morgan Stanley does not expect will resolve anytime soon.Instead, analysts expect the <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> to trade between 5,000 and 5,400 through upcoming months.The note argues that stocks are already priced to perfection, and valuations are high amid increasingly uncertain US growth. Volatility will, therefore, continue until markets see new evidence that growth can keep up, or if the Federal Reserve enacts a satisfying policy response."As a result, we continue to recommend more defensive stocks in sectors like Utilities, Healthcare, Consumer Staples and parts of Real Estate which tend to do better than quality growth when growth is the main issue," Wilson wrote.<h3 id="bc59bd9c-5c1b-4e03-85d9-5fdfbd21dbde">(1) Public Service Enterprise Group</h3>Morgan Stanley said this utility firm offers investors a high return on equity and an above-average growth opportunity.Operating under the ticker <a target="_blank" href="https://markets.businessinsider.com/stocks/peg-stock">PEG</a>, the company is a premium-regulated energy firm that benefits from a stable underlying business, the bank argued. It engages in the transmission of electricity and natural gas.So far this year, the company has rallied 30.93% to $79.83, notching a market capitalization of $39.78 billion.Morgan Stanley holds an Overweight rating on the firm, with a price target of $78 per share.<h3 id="91bdef42-aa78-4ea0-939b-4d78f07b63ee">(2) Abbvie</h3>The bank added <a target="_blank" href="https://markets.businessinsider.com/stocks/abbv-stock">ABBV</a> to its list as a way for investors to gain exposure to the healthcare sector.The large-cap name is a pharmaceutical company with an increasingly diverse drug pipeline, Morgan Stanley said, helping it notch industry-beating average revenue and earnings-per-share growth.Separate research from the bank found that investors should seek biotech exposure to outperform equities during the first interest rate cut. This corner of the market is a relative outperformer when rates are both high and falling, the note added.Abbvie has risen 22.43% year-to-date, reaching a high of $189.7. Its market capitalization is $335.48 billion.Morgan Stanley holds an Overweight rating on the company, with a price target of $211 per share. That signals that Abbvie has 11.2% more to gain from current levels.<h3 id="19399031-bc6f-4c0f-b40d-2931545d3c29">(3) Northrop Grumman</h3><a target="_blank" href="https://markets.businessinsider.com/stocks/noc-stock">NOC</a>, the defense and aerospace company, joined Morgan Stanley's list as a premium equity for exposure to industrials.The firm has not kept up with sector peers over the past year, and is up only 6.6% to $498.32 per share. The company's market capitalization stands at $72.29 billion.Still, analysts consider it an undervalued player that will benefit from long-term visibility and stability. Northrop's recent earnings have already boosted confidence, with earnings-per-share surging past estimates.The bank holds an Overweight rating on the firm, with a price target of $592 per share. That indicates 18.7% upside ahead.Morgan Stanley's Fresh Money Buy List now totals 10 firms; other names included are Coca-Cola, McDonald's, Verizon, and Walmart. The list's current total return since inclusion notched an equal weight average of 16.95%.

Morgan Stanley just added these 3 safe stocks to their 'buy' list with the market expected to stay choppy

<ul class="summary-list"><li>Nvidia stock reversed a three-day drop, boosting the S&amp;P 500 and Nasdaq.</li><li>The AI giant had seen a $430 billion wipeout days after becoming the biggest company in the world. </li></ul>An end to <a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia's</a> rout brought new life to the stock market on Tuesday, sending the S&amp;P 500 and Nasdaq churning higher in the session. The AI chip darling gained nearly 7%, reversing a decline that <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-sell-off-erases-431-billion-market-value-2024-6?_gl=1*1cnpo6h*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxOTM0MjExNS4zNjIuMS4xNzE5MzQ0MTQ3LjYwLjAuMA..">cost it $431 billion in market capitalization in a matter of days</a>. Given a lack of fundamental drivers, analysts have explained the sell-off as profit taking following a monster rally so far in 2024. Other mega-cap tech leaders also recovered alongside Nvidia, with <a target="_blank" href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/meta-stock">Meta</a>, and <a target="_blank" href="https://markets.businessinsider.com/stocks/goog-stock">Google </a>all up in Tuesday trades. Meanwhile, the latest consumer confidence report eased on Tuesday, although its subcategories showed improvement."The job market is key to future consumer spending. Although consumers became a bit more cautious about the future, they feel pretty good about the present situation. Inflation expectations improved, incomes seem stable, and consumers feel good about the job market," LPL Financial chief economist Jeffrey Roach said.Investors are keeping watch for Friday's personal consumption expenditures release, which will help determine US inflation and future monetary policy. So far, the Federal Reserve is tilting towards a hawkish stance, after Fed Governor Michelle Bowman indicated chances of another rate hike."I remain willing to raise the target range for the federal funds rate at a future meeting should progress on inflation stall or even reverse," she said on Tuesday. Here's where US indexes stood at the 4:00 p.m. closing bell on Tuesday: <ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,469.30, 0.39% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 39,112.16, down 0.76% (-299.05 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,717.65, up 1.26%</li></ul>Here's what else happened today:<ul><li><a target="_blank" href="https://www.businessinsider.com/real-estate-crash-property-correction-prices-foreclosures-mortgage-defaults-banks-2024-6">The housing market is primed for a leg down</a>, a strategist warned.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/djt-stock-price-outlook-donald-trump-media-truth-social-2024-6?_gl=1*5529z4*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxOTM0MjExNS4zNjIuMS4xNzE5MzQyOTI2LjYwLjAuMA..">Trump Media's valuation is 'absurdly' high</a>, LinkedIn co-founder says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/next-stock-market-correction-labor-market-unemploymentrate-cuts-mike-wilson-2024-6?_gl=1*3a3ibg*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxOTM0MjExNS4zNjIuMS4xNzE5MzQyOTg4LjYwLjAuMA..">If labor markets rupture the soft-landing narratives, markets could be in for a 10% correction</a>, Morgan Stanley CIO says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-extreme-concentration-sp500-record-2022-bear-market-schwab-2024-6?_gl=1*1f45xmk*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxOTM0MjExNS4zNjIuMS4xNzE5MzQzMDI2LjIyLjAuMA..">Stock dynamics are starting to represent conditions before the last bear market crash</a>, Charles Schwab said.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-july-best-days-of-year-equity-performance-2024-6?_gl=1*gud1iy*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxOTM0MjExNS4zNjIuMS4xNzE5MzQzMDc3LjQ0LjAuMA..">The market could surge 4% to record highs by the end of July — here's how</a>, according to Goldman Sachs.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil shed 0.95% to $80.76 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, dropped 2.1% to $84.97 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> decreased by 0.42% to $2,323.60 per ounce.</li><li>The 10-year Treasury edged lower by one basis point to 4.23%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> gained 2.7% to $61,993.</li></ul>

Stock market today: US indexes rebound as Nvidia's revival sets off a tech rally

<ul class="summary-list"><li>A high concentration of warning signals suggest a major market correction ahead, John Hussman said.</li><li>"There's nothing magical about these syndromes, but when dozens of them kick in at the same time, we do pay attention."</li></ul>A growing tally of ringing market alarms suggest the <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> has at last reached its speculative peak, permabear John Hussman <a target="_blank" href="https://www.hussmanfunds.com/comment/mc240623/">wrote on Monday</a>. He says a major crash is likely to follow next.In a new note, the well-known bear doubled down on his outlook of a 50%-to-70% correction for the benchmark index this cycle. It's a call the Hussman Investment Trust president has <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-crash-outlook-sp500-bear-market-bubble-speculation-hussman-2024-5">repeatedly outlined</a>, based on a number of market red flags tracked by his firm.For instance, there's the fact that negative market leadership is at a five-year high, with stocks hitting fresh lows quicker than they are breaching new highs."Alone, I view it as a useful but insufficient gauge of market conditions," Hussman said. "In combination with much broader speculative warnings, however, it's one of the 'last straws' I described a few weeks ago."As of Friday, these tracked "warning syndromes" in daily data have catapulted beyond tallies seen in 2000, 2007, late-2018, and early-2020, years that were all associated with a crash."There's nothing magical about these syndromes, but when dozens of them kick in at the same time, we do pay attention," he wrote.While the measures alone are only enough to highlight short-term danger, unfavorable market internals should also serve as a wake up call. Meanwhile, current extremes in market valuation make this a long-term risk as well.According to Hussman's most reliable gauge — the ratio of nonfinancial market capitalization to corporate gross value-added — market valuations exceed even 1929 levels, when the Dow hurtled 89% peak-to-trough."I don't think it's generally possible to identify market peaks and troughs in real-time, but there are unusual points in history when one observes a sudden deluge of conditions that suggest a speculative climax or risk-averse capitulation," he said.While this likely means that further highs in the S&amp;P will be minimal, Hussman's projected correction wouldn't necessarily be immediate, he said. Meanwhile, most of Wall Street remains bullish on the market, and generally expects the index to remain <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-triple-by-2030-tom-lee-fundstrat-2024-6?_gl=1*a80d1d*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcxOTI0NjEzMS4zNTUuMS4xNzE5MjQ2MTM3LjU0LjAuMA..">above 5,000 through this year</a>.<h2 id="d60fe598-14e2-4ac5-a790-8f742704fa81" class="premium">Hussman's track record</h2>For the uninitiated, Hussman has repeatedly made headlines by predicting a <a target="_blank" rel="" href="https://www.businessinsider.com/stock-market-news-john-hussman-says-stocks-at-record-valuations-will-lose-two-thirds-2018-1">stock-market decline</a> exceeding 60% and forecasting a full decade of <a target="_blank" rel="" href="https://www.businessinsider.com/stock-market-news-market-bear-sees-decade-of-stock-losses-wall-street-mad-2017-11">negative equity returns</a>. And as the stock market ground mostly higher, he persisted with his doomsday calls.But before you dismiss Hussman as a wonky perma-bear, consider again his track record. Here are the arguments he's laid out:<ul><li>He predicted in March 2000 that tech stocks would plunge 83%, then the tech-heavy Nasdaq 100 index lost an "improbably precise" 83% during a period from 2000 to 2002.</li><li>He predicted in 2000 that the S&amp;P 500 would likely see negative total returns over the following decade, which it did.</li><li>He predicted in April 2007 that the S&amp;P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009.</li></ul>However, Hussman's recent returns have been less than stellar. His Strategic Growth Fund is down more than 50% since December 2010, through April. The S&amp;P 500, by comparison, is up significantly over the period.

You Searched For "market capitalization" and got 11 results

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