Hedge funds have significantly increased their exposure to Nvidia, driven by the AI boom, while reducing stakes in AMD. This shift highlights the growing confidence in Nvidia's market leadership.
Arista Networks outpaced Q1 earnings and revenue expectations and announced a new $1.2 billion stock buyback. Shares rose 7% in extended trading as the company provided guidance slightly above Wall Street forecasts.
Despite recent rebounds, JPMorgan cautions that the stock market may face additional declines, driven by enduring inflation, high equity valuations, and shifting expectations regarding Federal Reserve rate cuts.
Apple Inc. has removed several major social media applications, including WhatsApp and Threads by Meta Platforms Inc., from its Chinese app store in compliance with directives from the Chinese government, citing national security concerns.
In a dynamic week for the stock market, the Dow Jones and S&P 500 reached record highs, while tech leaders like Nvidia (NVDA) saw adjustments. Investors await the impact of PCE inflation data and upcoming EV makers' reports.
