How to Fix Apple… and a New Price Target for Nvidia
Alex Moschina|March 9, 2024
Big Tech continues to buoy the markets… and dominate the investing conversation.
So far this year, the tech-heavy Nasdaq has crushed every other major index. Even the well-publicized drops of Apple (AAPL) and Alphabet (GOOG) couldn’t drag it down.
Shah spoke about the former on Fox Business this week.
“Apple is on a downward trajectory that I don’t think is going to get fixed anytime soon,” Shah said. “Not until they have a refresh cycle that includes AI incorporation in a broad sense, throughout smartphones and throughout their entire ecosystem.”
AI remains the focus of investors – not to mention businesses that are scrambling to incorporate the technology into their daily operations.
In fact, Nvidia (NVDA) has been largely responsible for propping up the Nasdaq when its tech brethren – like Apple and Alphabet – take hits.
It’s a trend Shah expects to continue, as he outlined in yesterday’s edition of Total Wealth.
While other analysts see Nvidia’s explosive rise over the past year as overblown, Manward’s Chief Investment Strategist thinks the company’s growth potential and its position within the tech sector make it well worth the premium investors are now paying.
“I’m assigning a 50x multiple on forward earnings based on investors showing their willingness to pay a premium for shares that consistently overdeliver,” Shah wrote.
If you missed it, you can read how high Shah expects Nvidia to go here.
And we can’t talk about Big Tech without talking about the biggest tech of all… crypto!
Hopefully you saw my note yesterday regarding our upcoming live session with Robert. On Tuesday at 2 p.m., ET, he will be leading us through a discussion about Ethereum’s next big upgrade and what it could mean for select cryptocurrencies.
I hope to see you in the chat.
Along those same lines, Robert’s Total Wealth contribution this week focused on a reader question about crypto mining stocks.
It’s an attractive area for investors right now as Bitcoin continues to soar to new all-time highs. In terms of gains, Ethereum and many lesser-known cryptocurrencies are not far behind.
The benefit of mining stocks, of course, is that you don’t have to leave the stock market to invest in them.
They also offer a unique “leveraged” way to play the crypto markets.
You can read Robert’s full thoughts on the topic here.
And again, don’t forget to join us at next week’s live session. We’re really looking forward to it.
I’ll have more for you on Monday about what to expect and how to access the event.
Until then, feel free to keep sending us your crypto questions here.
And keep scrolling for links to all our other great content from this week, including a fresh Dealmaker’s Diary from Alpesh.
Spoiler alert: The stock he covered this week is in… drumroll please… tech.
You’ll find the link to that (and more) below.
Alex Moschina
Alex Moschina is the associate publisher of Manward Press. A gifted writer, editor and financial researcher, Alex’s career in publishing began more than a decade ago when he worked at one of the world’s leading providers of academic research and reference materials. Alex first cut his teeth in the realm of investing when he joined the team at White Cap Research in 2010. There he was charged with covering emerging market trends and investment opportunities. A stint as senior managing editor and editorial director at the prestigious Oxford Club followed. A frequent speaker at conferences and events, Alex has led educational workshops across the U.S. and Canada.
