AI Stocks & ETFs to Rally on Likely Harris Trade?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 23 2024
0mins
Should l Buy NVDA?
Source: NASDAQ.COM
Tech Stocks Surge: Following President Biden's withdrawal from the presidential race, U.S. tech stocks, particularly NVIDIA, led a recovery with significant gains in the S&P 500 and Nasdaq Composite, driven by renewed interest in artificial intelligence (AI) technologies.
Kamala Harris' Potential Impact: With Biden endorsing Kamala Harris as the Democratic nominee, her strong background in AI policy and support from tech leaders could further boost the tech sector, especially if she gains traction in the upcoming presidential election.
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Analyst Views on NVDA
Wall Street analysts forecast NVDA stock price to rise
41 Analyst Rating
39 Buy
1 Hold
1 Sell
Strong Buy
Current: 215.200
Low
200.00
Averages
264.97
High
352.00
Current: 215.200
Low
200.00
Averages
264.97
High
352.00
About NVDA
NVIDIA Corporation is an artificial intelligence (AI) infrastructure company. The Company is engaged in accelerated computing to help solve the challenging computational problems. Its segments include Compute & Networking and Graphics. The Compute & Networking segment includes its Data Center accelerated computing and networking platforms and AI solutions and software, and automotive platforms and autonomous and electric vehicle solutions, including software. The Graphics segment includes GeForce GPUs for gaming and personal computers (PCs), and Quadro/NVIDIA RTX GPUs for enterprise workstation graphics. Its technology stack includes the foundational NVIDIA CUDA development platform that runs on all NVIDIA GPUs, as well as hundreds of domain-specific software libraries, frameworks, algorithms, software development kits (SDKs), and application programming interfaces (APIs). Its platforms address four markets, which include Data Center, Gaming, Professional Visualization, and Automotive.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Nvidia's AI Demand Continues to Expand
- Revenue Growth Outlook: Nvidia has guided for approximately $78 billion in revenue for Q1 FY2027, reflecting a year-over-year growth rate of 73% to 80%, indicating strong potential for further stock price appreciation driven by AI advancements.
- Strong Market Demand: The anticipated market opportunity for Nvidia's Blackwell and Rubin systems has surged to over $1 trillion, as CEO Jensen Huang highlights a significant increase from the previous $500 billion forecast, showcasing the rapid evolution of AI infrastructure demand.
- Infrastructure Investment: Nvidia plans to invest up to $2.1 billion in data center operator Irena to deploy 5 gigawatts of AI infrastructure, demonstrating the company's proactive strategy to meet the escalating computational needs of AI workloads.
- Diversified Customer Base: While the top five hyperscalers account for 60% of Nvidia's business, the remaining 40% comes from enterprises, sovereign AI projects, and edge computing, providing resilience against spending slowdowns in any single industry segment.
See More
Norway's Wealth Fund Faces Ethical Investment Dilemma
- Ethical Investment Review: Norway's $2.2 trillion wealth fund has paused investments over ethical concerns, with Finance Minister Stoltenberg emphasizing the need for transparency in reasoning, which could impact global ethical investment standards.
- Impact of Investment Suspension: The fund has made no divestments since the suspension, with environmental groups warning that this could lead to a decrease in ethical divestments by other investors globally, as the Norwegian fund has been a benchmark for ethical investing.
- Political Pressure Concerns: There are fears that the fund's ethical divestment rules may be weakened under pressure from U.S. President Trump, despite the Norwegian government denying this; such a situation raises alarms among civil society groups about the loss of transparency affecting public and investor information access.
- Uncertain Future Transparency: The fund's CEO stated that they would reassess transparency issues after the commission's recommendations are published, and while the existence of ethical rules is not in doubt, the decision to pause divestments may affect the fund's broad investment strategy.
See More
Jensen Huang Excluded from Trump's China Delegation
- Executive Absence: Nvidia CEO Jensen Huang was notably excluded from President Trump's China visit, while other top executives like Apple’s Tim Cook and Tesla’s Elon Musk were included, indicating potential sensitivities regarding Nvidia's role in US-China relations.
- Trade War Context: The last meeting between Trump and Chinese President Xi Jinping occurred in October, where they agreed to pause a fierce trade war; Huang's absence could impact Nvidia's future in the Chinese market, particularly in the competitive AI chip sector.
- Market Reaction: Huang's exclusion may raise market concerns about Nvidia's relationship with China, especially given the company's reliance on the Chinese market, potentially leading to short-term negative impacts on its stock price.
- Industry Impact: As a leading AI chip manufacturer, Nvidia's absence could hinder collaboration opportunities with Chinese firms, particularly in the rapidly evolving AI technology landscape, potentially resulting in a loss of market share.
See More
Intel's Stock Surge Reshapes Market Position in the AI Era
- Significant Stock Recovery: Intel's stock has surged over 240% since its removal from the Dow, with a remarkable 377% increase since November 2024, now boasting a market cap exceeding $640 billion, making it the 15th largest component in the S&P 500, indicating a strong market rebound potential.
- Market Share Recovery: Through cost-cutting, restructuring, and new management, Intel has achieved growth in its data center and AI segments, particularly driven by increased demand for central processing units (CPUs), highlighting its increasingly vital role in the AI ecosystem.
- Upgraded Earnings Forecast: Analysts now project Intel's earnings per share to reach $1.53 in fiscal 2027, representing a 40.4% increase from 2026's average estimates, providing a clear runway for high-margin growth, although its valuation has significantly risen with a forward P/E ratio of 115.
- Intensifying Industry Competition: Despite Intel's strong recovery momentum, Nvidia's market cap remains eight times larger than Intel's, and its greater influence in the Dow underscores the need for Intel to continue enhancing its competitiveness to potentially reclaim a spot in the index.
See More
Anthropic Commits $200 Billion to Google Cloud for AI Infrastructure
- Massive Investment Commitment: Anthropic has announced a commitment of $200 billion over five years to Google Cloud for enhanced computing capacity and custom chips, a move that not only highlights the reshaping of hyperscale infrastructure deals in the AI era but also underscores Alphabet's central role in this transformation.
- Deepening Collaboration: With a long history of partnership, Anthropic recently secured an agreement with Broadcom to ensure multiple gigawatts of next-generation TPU capacity coming online by 2027, which not only strengthens its competitive edge in the AI infrastructure market but also lays a foundation for future technological advancements.
- Rapid Cloud Growth: Google Cloud generated $20 billion in revenue in Q1 2026, marking a 63% year-over-year increase, indicating strong enterprise demand for AI infrastructure and data analytics, further enhancing Alphabet's profitability and market share.
- Sustainable Growth Potential: Alphabet's cloud backlog doubled to over $460 billion in Q1, reflecting contractual commitments from customers for future capacity, which not only provides substantial revenue visibility but also secures the company's competitive position amid intense market competition.
See More
Investors Need to Balance Tech Stocks with Consumer Goods
- Consumer Resilience: Amid economic downturns and inflation, companies like Costco, Procter & Gamble, and PepsiCo are viewed as resilient investments that can provide stable returns, enhancing portfolio resilience against market shocks.
- Costco Membership Renewal Rates: In its fiscal Q2 2026 report, Costco reported a global membership renewal rate of 89.7%, with U.S. and Canada rates at 92.1%, indicating strong brand loyalty and potential for further sales growth.
- Strong P&G Earnings: Procter & Gamble's first-quarter revenue of $22.3 billion exceeded expectations of $22.1 billion, with adjusted EPS of $1.99, showcasing stability amid economic uncertainty, while its 69 consecutive years of dividend increases bolster investor confidence.
- PepsiCo's Market Performance: PepsiCo reported Q1 2026 revenue of $19.4 billion, surpassing analyst forecasts, and its 3.7% dividend yield, along with its status as a
See More
Nvidia's AI Demand Continues to Expand
- Revenue Growth Outlook: Nvidia has guided for approximately $78 billion in revenue for Q1 FY2027, reflecting a year-over-year growth rate of 73% to 80%, indicating strong potential for further stock price appreciation driven by AI advancements.
- Strong Market Demand: The anticipated market opportunity for Nvidia's Blackwell and Rubin systems has surged to over $1 trillion, as CEO Jensen Huang highlights a significant increase from the previous $500 billion forecast, showcasing the rapid evolution of AI infrastructure demand.
- Infrastructure Investment: Nvidia plans to invest up to $2.1 billion in data center operator Irena to deploy 5 gigawatts of AI infrastructure, demonstrating the company's proactive strategy to meet the escalating computational needs of AI workloads.
- Diversified Customer Base: While the top five hyperscalers account for 60% of Nvidia's business, the remaining 40% comes from enterprises, sovereign AI projects, and edge computing, providing resilience against spending slowdowns in any single industry segment.
See More
Norway's Wealth Fund Faces Ethical Investment Dilemma
- Ethical Investment Review: Norway's $2.2 trillion wealth fund has paused investments over ethical concerns, with Finance Minister Stoltenberg emphasizing the need for transparency in reasoning, which could impact global ethical investment standards.
- Impact of Investment Suspension: The fund has made no divestments since the suspension, with environmental groups warning that this could lead to a decrease in ethical divestments by other investors globally, as the Norwegian fund has been a benchmark for ethical investing.
- Political Pressure Concerns: There are fears that the fund's ethical divestment rules may be weakened under pressure from U.S. President Trump, despite the Norwegian government denying this; such a situation raises alarms among civil society groups about the loss of transparency affecting public and investor information access.
- Uncertain Future Transparency: The fund's CEO stated that they would reassess transparency issues after the commission's recommendations are published, and while the existence of ethical rules is not in doubt, the decision to pause divestments may affect the fund's broad investment strategy.
See More
Jensen Huang Excluded from Trump's China Delegation
- Executive Absence: Nvidia CEO Jensen Huang was notably excluded from President Trump's China visit, while other top executives like Apple’s Tim Cook and Tesla’s Elon Musk were included, indicating potential sensitivities regarding Nvidia's role in US-China relations.
- Trade War Context: The last meeting between Trump and Chinese President Xi Jinping occurred in October, where they agreed to pause a fierce trade war; Huang's absence could impact Nvidia's future in the Chinese market, particularly in the competitive AI chip sector.
- Market Reaction: Huang's exclusion may raise market concerns about Nvidia's relationship with China, especially given the company's reliance on the Chinese market, potentially leading to short-term negative impacts on its stock price.
- Industry Impact: As a leading AI chip manufacturer, Nvidia's absence could hinder collaboration opportunities with Chinese firms, particularly in the rapidly evolving AI technology landscape, potentially resulting in a loss of market share.
See More
Intel's Stock Surge Reshapes Market Position in the AI Era
- Significant Stock Recovery: Intel's stock has surged over 240% since its removal from the Dow, with a remarkable 377% increase since November 2024, now boasting a market cap exceeding $640 billion, making it the 15th largest component in the S&P 500, indicating a strong market rebound potential.
- Market Share Recovery: Through cost-cutting, restructuring, and new management, Intel has achieved growth in its data center and AI segments, particularly driven by increased demand for central processing units (CPUs), highlighting its increasingly vital role in the AI ecosystem.
- Upgraded Earnings Forecast: Analysts now project Intel's earnings per share to reach $1.53 in fiscal 2027, representing a 40.4% increase from 2026's average estimates, providing a clear runway for high-margin growth, although its valuation has significantly risen with a forward P/E ratio of 115.
- Intensifying Industry Competition: Despite Intel's strong recovery momentum, Nvidia's market cap remains eight times larger than Intel's, and its greater influence in the Dow underscores the need for Intel to continue enhancing its competitiveness to potentially reclaim a spot in the index.
See More
Anthropic Commits $200 Billion to Google Cloud for AI Infrastructure
- Massive Investment Commitment: Anthropic has announced a commitment of $200 billion over five years to Google Cloud for enhanced computing capacity and custom chips, a move that not only highlights the reshaping of hyperscale infrastructure deals in the AI era but also underscores Alphabet's central role in this transformation.
- Deepening Collaboration: With a long history of partnership, Anthropic recently secured an agreement with Broadcom to ensure multiple gigawatts of next-generation TPU capacity coming online by 2027, which not only strengthens its competitive edge in the AI infrastructure market but also lays a foundation for future technological advancements.
- Rapid Cloud Growth: Google Cloud generated $20 billion in revenue in Q1 2026, marking a 63% year-over-year increase, indicating strong enterprise demand for AI infrastructure and data analytics, further enhancing Alphabet's profitability and market share.
- Sustainable Growth Potential: Alphabet's cloud backlog doubled to over $460 billion in Q1, reflecting contractual commitments from customers for future capacity, which not only provides substantial revenue visibility but also secures the company's competitive position amid intense market competition.
See More
Investors Need to Balance Tech Stocks with Consumer Goods
- Consumer Resilience: Amid economic downturns and inflation, companies like Costco, Procter & Gamble, and PepsiCo are viewed as resilient investments that can provide stable returns, enhancing portfolio resilience against market shocks.
- Costco Membership Renewal Rates: In its fiscal Q2 2026 report, Costco reported a global membership renewal rate of 89.7%, with U.S. and Canada rates at 92.1%, indicating strong brand loyalty and potential for further sales growth.
- Strong P&G Earnings: Procter & Gamble's first-quarter revenue of $22.3 billion exceeded expectations of $22.1 billion, with adjusted EPS of $1.99, showcasing stability amid economic uncertainty, while its 69 consecutive years of dividend increases bolster investor confidence.
- PepsiCo's Market Performance: PepsiCo reported Q1 2026 revenue of $19.4 billion, surpassing analyst forecasts, and its 3.7% dividend yield, along with its status as a
See More
