AI & Bitcoin Boom: Bullish & Bearish Stock Picks for the Week

The FTSE 100, FTSE 250, and the FTSE All-Share Index all recorded gains last week, with the Dow Jones Industrial Average up nearly 1.3%, the Nasdaq Composite gaining 1.4%, and the S&P 500 rising 1.45%.

Stocks moved higher on Friday morning after Federal Reserve Chair Jerome Powell hinted at potential interest rate decreases during his speech at Jackson Hole. He stated that "the time has come for policy to adjust" but refrained from specifying the timing or extent of any rate cuts, emphasising a data-driven approach.

The anticipation of lower interest rates contributed to a drop in the US dollar, which reached its lowest level in over a year, boosting interest-rate-sensitive sectors such as small-cap stocks, real estate, and regional banks.

Benzinga provides daily reports on the stocks most popular with investors. Here are a few of the most bullish and bearish posts from the past week that are worth revisiting.

The Bulls

Goldman Sachs Is Bullish On Nvidia Ahead Of Earnings: Risk-Reward For AI Stock ‘Favorable’ by Piero Cingari details Goldman Sachs' optimistic outlook on Nvidia Corp. (NVDA), driven by strong demand for artificial intelligence (AI) and Data Center growth. The report suggests a potential for an 89% stock price increase, despite risks from delayed GPU launches.

‘Make As Much Money As Possible' Before AI ‘Renaissance,' Says Raoul Pal, Who Sees Bitcoin As ‘The Standout Asset’ by Khyathi Dalal, features Raoul Pal's advice to capitalise on assets like Bitcoin (BTC/USD) before AI and robotics reshape the economy. Pal emphasises Bitcoin's historical outperformance amid ongoing currency devaluation.

Broadcom Secures Major Wins With OpenAI, Google, Meta As It Targets $150B AI Market by Surbhi Jain highlights Broadcom Inc. (AVGO) securing critical AI ASIC partnerships with OpenAI, Google parent Alphabet Inc. (GOOGL), and Meta Platforms Inc. (META), positioning itself to capitalise on a $150 billion AI market.

The Bears

Tesla Shares ‘Kind Of Dead In The Water’ Until This Happens, Says Portfolio Manager, Blames CEO Elon Musk For Alienating Customers ‘Super Important To Him’ by Shanthi Rexaline discusses Bill Davis of Hennessy Stance ESG ETF expressing concerns about Tesla Inc. (TSLA) due to its absence in the low-cost electric vehicle (EV) segment and Elon Musk's leadership. Davis suggests the stock may remain stagnant until Tesla addresses these issues.

Intel Board Member Lip-Bu Tan Resigns Amid Chipmaker’s Struggle With Cost Cuts by Anusuya Lahiri reports that Lip-Bu Tan has resigned from Intel Corp.'s (INTC) board to reprioritise commitments. The company faces challenges with its £8 billion cost-reduction plan amidst a 39% stock decline over the past year.

Snowflake Investors ‘Further Confused’ After Q2 Earnings: One Analyst Says They Know Why by Priya Nigam explains why Snowflake Inc. (SNOW) shares dropped 13.5%. Analysts pointed to mixed signals from management's guidance despite strong quarterly results, leaving investors puzzled over the company's growth outlook.

For more bullish and bearish takes, check out these posts:

Amazon’s ‘Multi-Billion Dollar Run Rate’ In AI Drives Strategist To Double Down On Stock

Gold ‘Is Getting Its Moment In The Sun’ And Experts Say The Record High Prices Could Climb Even Higher: Here’s The Case For Even More Glittering Gains

Carvana Defies The Odds With 217% YTD Rally: Is The Comeback Story Real?

Peter Schiff Warns Dollar On ‘Verge Of A Total Collapse’ As Greenback Succumbs To Rising Rate Cut Bets

Fisker Recalls Nearly 8K Ocean SUVs Over Risks Of Reduced Braking Performance

Boeing’s 777X Faces Yet Another Setback: Structural Cracks Reportedly Force Grounding Of Test Fleet

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