Jan 08, 2025 (MENAFN via COMTEX) --
(MENAFN - Baystreet) On Monday's trading session, Nasdaq (QQQ) opened on strong relative volume. Although the technology-heavy index topped 20,000, it closed up by 1.24%, or at 19,865. The annual Computer Electronics Show (CES) in Las Vegas created a bullish sentiment. Traders may create enough momentum to erase last week's losses.
Nvidia (NVDA) gained 3.43%, setting up a breakout to a sustained, all-time high. CEO Jensen Huang delivered a keynote address on Monday at 6:20 p.m. PST. At the event, PC gaming enthusiasts are looking forward to the newest graphics card releases. Nvidia's stock performance lifted Micron (MU) by 10.45%, Advanced Micro Devices (AMD) by 3.33%, Alphabet (GOOG), and Meta Platforms (META).
In the current quarter, Nvidia will increase production of the Blackwell AI servers. Analysts like Ruben Roy at Stiefel believe those chips are a $100 billion addressable market for the company.
Markets are speculating that Nvidia may announce a standalone CPU. Even though this expands its TAM, this market is potentially saturated. Qualcomm (QCOM) has yet to build a meaningful market share to take on Intel (INTC) and AMD's market.
Nvidia has a market capitalization higher than that of Apple (AAPL). The title for the biggest firm may cycle between the two firms, depending on the market's sentiment.
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COMTEX_461658886/2604/2025-01-08T01:30:39
