Stocks So Far in 2023
What is it?
This is the Vanguard Total World Stock Index ETF (VT) as of Thursday evening after the markets closed. VT is shown on a daily candlestick chart beginning around the start of the year.
Why does it matter?
As we can see, prices have risen since the start of the year. So far they peaked on February 2, 2023. Since then the value of VT has come down slightly. We will be tracking if the price moves closer to $85 per share like it was at the beginning of the year. Alternatively, if the price shoots up above $95 per share that would be a new high for the year and a sign of continuing appreciation.
Nvidia Gains More Traction as AI Evolves
What is it?
Nvidia had some bad news last week when it reported a 21% year-over-year revenue decline for its fourth quarter on Wednesday. However, as mentioned in previous market insights, bad news isn’t always all bad. Nvidia actually outperformed the broader market following their earnings report and comments by their CEO. “Shares of the graphics chip maker Nvidia (NVDA) rose more than 14% Thursday.”*
Why does it matter?
Nvidia isn’t seeing great returns from the past year, but they are well positioned to grow. Demand for “heavy-duty processing power that Nvidia’s chips are more than well suited for” is increasing with the growth of AI. Along with that, Nvidia is also involved in cloud computing, gaming, and data centers.* Their CEO sees the present time as an “inflection point” for AI as growth is expected to speed up.*
Other articles we found interesting this week:
‘This is ruining electric cars’: A top YouTuber calls out one of the biggest drawbacks of EVs
Bonds Are Right and Stocks are Wrong, Here is What You Should Do About It – BlackRock
Futures slide on caution ahead of inflation data
Current 401(k) portfolio
Our last 401(k) portfolio reallocation: 5/19/2022.
Want more information?
The weekly market insight provides a window into the process we use in our investment management process. At Breakaway, we believe markets are always changing and require a nimble yet data-oriented approach.
Our process attempts to identify trends and momentum in the financial markets. With that information, we align our clients’ portfolio accordingly in the hope to help our clients accomplish their life goals while attempting to lower the risk of a large drop in their portfolio.
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Sources:
*Daniel Howley. “Nvidia is tying its future to AI at just the right time”. 2/23/23. https://news.yahoo.com/nvidia-is-tying-its-future-to-ai-at-just-the-right-time-195455376.html
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