Market review from UTEX – week 37
Indices are down, as expected for September. Here are 5 fresh trade ideas to consider!
Last week, the major U.S. indices fell sharply. No surprise, as September is historically one of the weakest months for US markets. The SPY lost more than 3%, the Nasdaq more than 4.5%. The chipmakers that suffered the most were ASML Holding (-15%), Broadcom (-12%) and NVIDIA (-12%).
Bitcoin was not left behind, falling 5% in the last seven days. It is currently trading at $55,300.
On Wednesday, before the market opens, important data will be released on consumer inflation for August, and on Thursday – on producer inflation.
Today, Apple will hold a press conference at its headquarters to unveil new iPhone and Apple Watch models.
Top 5 ideas for the coming week
Oracle (ORCL). One of the largest enterprise software vendors in the world. Reported on September 9 after the close. The stock has gotten close to all-time highs. The company is actively incorporating AI into its products and investing in generative artificial intelligence. Oracle founder Larry Ellison said during the Q4 2024 earnings conference call that they have signed thirty customers for $12.5 billion in AI.
Rubrik (RBRK). The company provides cloud-based data protection solutions. Reported on September 9 after the close. Went public in April, since then the stock has been up in a range of $29 to $37. Expect increased volatility after the report.
GameStop (GME). Retailer of consoles and computer games. Report on Sept. 10 after the close. As always, you can expect anything in the case of this company.
Adobe (ADBE). Developer of Acrobat, Photoshop and dozens of other popular programs. Reporting Sept. 12 after the close. The stock rose 25% during the quarter. Analysts expect Adobe to report revenue and earnings growth (compared to the same period last year), one reason for the gains is increased demand for AI. The company may also talk about its efforts to integrate and monetize AI.
Dave & Buster's Entertainment (PLAY). Restaurant and entertainment company with over 200 locations open to date. Reported on September 10 after market close. Over the past six months, the stock is down 50% and has reached very strong support at $30, which formed in 2021 and has been working on a rebound ever since.
