Watch These Stocks: Nvidia, Microstrategy, And Boeing

11/23/2024 6:42:05 AM

(MENAFN- Baystreet) Investors heavily exposed to artificial intelligence suppliers will watch Nvidia (NVDA) today. Tomorrow after markets close, Nvidia will post quarterly results.

Over the weekend, the bearish media tried to question the impact of Nvidia's business in China. They speculated that existing trade sanctions hurt revenue. Still, Nvidia continued to post revenue that exceeded the most optimistic analyst's expectations. On Monday, the firm said that it is partnering with Alphabet (GOOG) to design quantum AI processors.

Google Quantum AI uses a hybrid quantum-classical computing platform, along with the NVIDIA Eos supercomputer. The partnership increases Nvidia's total addressable market for GPU-based computing products.

Microstrategy (MSTR) nearly doubled in value in the last few months. Even after announcing a $1.75 billion convertible senior notes offering, MSTR stock will likely keep rising. The notes offer zero (0%) interest. MSTR stock needs bitcoin (BTC-USD) prices to continue to rise. Otherwise, its rally would stall.

Boeing (BA) has yet to end its downtrend. The firm plans to cut 2,200 workers in Washington State. The firm will also cut 400 staff of its professional aerospace labor union.
These cuts are part of its 10% workforce reduction. After its workers held a strike and negotiated higher wages, Boeing may need to increase its job cut.

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