Thu, Dec 1, 2022 6:45 AM
Apple never wanted to remove Twitter from App Store: Elon Musk
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The Nasdaq Composite has surged 19% in 2024, driven by tech stocks and artificial intelligence euphoria. Tesla's shares, however, are down 20% due to concerns about EV demand and competition. Ark Invest's Cathie Wood predicts Tesla's stock will reach $2,600 by 2029, implying 1,300% upside. Her bullish thesis centers on Tesla's Robotaxi initiative, which could generate high-margin revenue.
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Tech stocks, particularly those in AI, have seen significant growth this year, with the S&P 500 up 15%. However, many are trading at a premium, making Intel and Alphabet attractive alternatives. Intel's stock has declined 38% this year, but its recent restructuring and promising AI developments make it a potential potential bargain with a lower forward P/E ratio than Nvidia and AMD.
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Rivian Automotive and Volkswagen are forming a joint venture, with Volkswagen investing up to $5 billion in Rivian, including a $1 billion unsecured loan and $2 billion in cash and loans. This deal values Rivian at nearly 4x trailing sales, and one analyst predicts Rivian stock could jump 36% to $20 a share in the next 12 months, citing the significant influx of capital to support Rivian's EV.
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