The Cedears of the technology sector registered strong increases of up to 31% among the most traded papers on the Buenos Aires stock market.
The top five most profitable companies in the past 30 days were three tech giants and two software makers. It seems that there is a common thread in all these increases and it is the artificial intelligence. At the same time, all nine ETFs advanced to almost 18%.
Thus the podium, in the local stock market, was headed by Advanced Micro Devices that climbed 31%. then followed him Alphabet with 29%behind the GOAL with 26.7% and Nvidia with 24.5%. The last place of the five big winners went to Microsoft with 22%.
It should be noted that nvidia is a company that at the moment leads the market for AI chipsand AMDfor its part, is waiting since it is expected that challenge Nvidia’s position with a chip called the MI300.
In fact on Wall Street, Nvidia is one of the shares most chosen by investorsshares of the Santa Clara-based chipmaker are up 116% since the start of the year, making them one of the best investments of 2023 in the S&P 500.
For his part, alphabethas just participated last week in a developer conference where he presented his tools for AI. Something similar happened with Goal that presented the investments and innovations in Artificial intelligence for businesses that come to their platforms.
Among the novelties is the IA Sandbox. It’s all about new tools and features included in generative ads based on Artificial Intelligence and machine learning.
It is because of that the five largest companies in the S&P 500 have a combined market capitalization of nearly $9 trillionor nearly 25% of the benchmark. These are Apple, Microsoft, Alphabet, Amazon and Nvidia.
As to the Cedears ETFs among those that rose the most in the last month, it is not surprising that the ARK of innovation led the increases with 17.6%, followed by the MSCI Brazil (+17%), and later the QQQ that replicates the Nasdaq technology index with 15.6%.
Source: Ambito
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