Wall Street's AI-Driven Rally in 2023
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 hours ago
0mins
Source: NASDAQ.COM
- AI Technology Drives Market: Since the beginning of 2023, Wall Street has experienced a remarkable rally primarily driven by the global artificial intelligence technology boom, which is expected to have profound implications for related industries.
- Archer-Daniels-Midland Growth: Zacks Rank #2 Archer-Daniels-Midland is projected to achieve revenue and earnings growth rates of 6.5% and 32.4% for 2023, respectively, driven by a rebound in its human nutrition segment and strong North American demand.
- Casey's General Stores Strong Performance: Zacks Rank #2 Casey's General Stores anticipates revenue and earnings growth rates of 10.8% and 12.4% for 2023, respectively, with resilient inside sales and a high-margin product mix enhancing its profitability.
- Ross Stores Expansion Plans: Zacks Rank #2 Ross Stores expects revenue and earnings growth rates of 8.2% and 15.6% for 2023, respectively, as its effective retail model and expansion plans are set to further enhance market share and profitability.
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Analyst Views on NUE
Wall Street analysts forecast NUE stock price to fall
10 Analyst Rating
8 Buy
2 Hold
0 Sell
Strong Buy
Current: 249.300
Low
168.00
Averages
179.00
High
200.00
Current: 249.300
Low
168.00
Averages
179.00
High
200.00
About NUE
Nucor Corporation is a manufacturer of steel and steel products, with operating facilities in the United States, Canada and Mexico. The Company also produces and procures ferrous and non-ferrous materials primarily for use in its steel manufacturing business. Its segments include steel mills, steel products and raw materials. Its products include carbon and alloy steel in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel racking; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; insulated metal panels; overhead doors; steel grating; wire and wire mesh; and utility structures. The Company, through The David J. Joseph Company and its affiliates, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap.
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.
Wall Street's AI-Driven Rally in 2023
- AI Technology Drives Market: Since the beginning of 2023, Wall Street has experienced a remarkable rally primarily driven by the global artificial intelligence technology boom, which is expected to have profound implications for related industries.
- Archer-Daniels-Midland Growth: Zacks Rank #2 Archer-Daniels-Midland is projected to achieve revenue and earnings growth rates of 6.5% and 32.4% for 2023, respectively, driven by a rebound in its human nutrition segment and strong North American demand.
- Casey's General Stores Strong Performance: Zacks Rank #2 Casey's General Stores anticipates revenue and earnings growth rates of 10.8% and 12.4% for 2023, respectively, with resilient inside sales and a high-margin product mix enhancing its profitability.
- Ross Stores Expansion Plans: Zacks Rank #2 Ross Stores expects revenue and earnings growth rates of 8.2% and 15.6% for 2023, respectively, as its effective retail model and expansion plans are set to further enhance market share and profitability.
See More
Two Dividend Kings Recommended by Buffett
- Coca-Cola's Brand Power: Coca-Cola, ranked as the sixth most valuable brand by Forbes in 2020, leverages its strong brand influence and pricing power to maintain a significant presence in retail markets, ensuring stable dividend returns with a 63-year streak of payout increases and a current yield of 2.6%.
- Diversified Beverage Portfolio: Beyond sodas, Coca-Cola has expanded into sports drinks and ready-to-drink alcohol, launching brands like BODYARMOUR and Vitaminwater to adapt to changing consumer tastes, thereby enhancing its market competitiveness and revenue streams.
- Nucor's Sales Surge: Nucor Steel reported a remarkable increase in net sales to $9.4 billion in Q1 2026, up from $7.8 billion a year earlier, with net earnings soaring from $156 million in 2025 to $743 million, reflecting strong demand in construction and infrastructure sectors.
- Future Growth Potential: Nucor's ongoing growth in the data center sector serves as a catalyst for its divisions, and despite a dividend yield of less than 1%, its stock price has surged 113% over the past year, indicating potential returns for investors willing to take on higher risks.
See More
Friday Market Watch: Earnings Reports and Stock Movements
- Workday Earnings Beat: Workday reported earnings that exceeded expectations on both revenue and profit, leading to a stock price increase of over 7%, while also raising its full-year margin outlook, indicating the effectiveness of its AI strategy and potentially attracting more investor interest.
- Deckers Sales Growth: Deckers Outdoor reported a 14.5% increase in Hoka sales and a 9.2% increase in Ugg sales, although its stock fell about 2.5%, the company provided full-year guidance above Wall Street expectations, indicating strong market demand.
- Take-Two Stock Rally: Take-Two Interactive shares rose over 3% after reaffirming that Grand Theft Auto VI will be released in November, despite facing multiple delays, this news may restore market confidence in its future revenues.
- Zoom Guidance Raised: Zoom Communication's earnings beat expectations, with a stock price increase of over 7% and an upgraded full-year guidance, leading KeyBanc to raise its rating from sell to hold, reflecting improved profitability and steady market performance.
See More
Bank of America: Investment Strategies Amid Persistent Inflation
- Persistent Inflation: According to Bank of America, the consumer price index rose 0.6% in April, bringing the annual rate to 3.8%, the highest since May 2023, indicating that inflation remains far from the Federal Reserve's 2% target, necessitating a reassessment of asset allocations by investors to navigate the high inflation environment.
- Commodity Investment Opportunities: Bank of America's strategists highlighted that commodities have performed well, with copper reaching a record high this week and oil prices remaining elevated due to the Iran conflict, recommending investors consider stock ETFs in metals and mining, such as the iShares U.S. Basic Materials ETF (IYM), which is up over 20% year to date.
- Small Cap Value Investments: The bank touted U.S. small cap value stocks as one of the least expensive trades, even after returning 15% to 17% year to date, while also mentioning international small cap value, specifically the Avantis International Small Cap Value ETF (AVDV), which is up 17% in 2026.
- Nuclear Energy Investment Outlook: Bank of America's commodities team forecasts uranium prices to reach $135 by 2027, challenging historical highs, and recommends the Global X Uranium ETF (URA) as a play on this theme, which has risen 22% this year and offers a current dividend yield of nearly 4%.
See More
Analysis of High Dividend ETF Investment Strategies
- FDVV ETF Overview: The Fidelity High Dividend ETF has achieved an average annual return of 13.3% since its launch in September 2016, with a current dividend yield of 2.8%, highlighting its appeal in high-dividend investing, although its top four holdings are all tech stocks, which may impact investors' diversification strategies.
- NOBL ETF Advantages: The ProShares S&P 500 Dividend Aristocrats ETF consists of 69 companies that have paid and increased dividends for at least 25 years, offering a dividend yield of 2.09%, nearly double that of the S&P 500 index, and its P/E ratio of 21 is lower than the S&P 500's 31.9, indicating strong fundamentals.
- Fee Comparison: FDVV has an expense ratio of 0.15%, while NOBL charges 0.35%, making FDVV more cost-effective, appealing to long-term investors seeking low-cost high-dividend investment options.
- Investment Recommendation: Although both ETFs have underperformed the S&P 500 index in recent years, FDVV may be more suitable for investors looking to diversify within high-dividend stocks due to its lower fees and higher dividend yield.
See More
Roundhill Memory ETF DRAM Attracts Over $5 Billion in Investments
- Memory Supercycle: The Roundhill Memory ETF (DRAM) attracted over $5 billion in investments within a month, including $1.1 billion on Thursday alone, indicating strong market demand for memory stocks driven by surging AI computing needs.
- Core Holdings Performance: The ETF's core holdings feature leading memory manufacturers like SK Hynix, Micron, and Samsung, allowing investors to gain broad exposure to these high-growth companies, including those not listed on U.S. exchanges.
- Market Reaction: Micron's stock surged over 200 points in a week, climbing from $542 to $747, reflecting optimistic market expectations for memory product demand, with a price-to-earnings ratio of only 9 times projected earnings for the next 12 months, highlighting its appeal as a quality stock.
- Investment Opportunities: Despite waning interest in data center stocks, investors can still capitalize on potential gains in the memory and cooling sectors by purchasing instruments like the DRAM ETF, especially as major tech companies continue to invest heavily in data centers.
See More
Wall Street's AI-Driven Rally in 2023
- AI Technology Drives Market: Since the beginning of 2023, Wall Street has experienced a remarkable rally primarily driven by the global artificial intelligence technology boom, which is expected to have profound implications for related industries.
- Archer-Daniels-Midland Growth: Zacks Rank #2 Archer-Daniels-Midland is projected to achieve revenue and earnings growth rates of 6.5% and 32.4% for 2023, respectively, driven by a rebound in its human nutrition segment and strong North American demand.
- Casey's General Stores Strong Performance: Zacks Rank #2 Casey's General Stores anticipates revenue and earnings growth rates of 10.8% and 12.4% for 2023, respectively, with resilient inside sales and a high-margin product mix enhancing its profitability.
- Ross Stores Expansion Plans: Zacks Rank #2 Ross Stores expects revenue and earnings growth rates of 8.2% and 15.6% for 2023, respectively, as its effective retail model and expansion plans are set to further enhance market share and profitability.
See More
Two Dividend Kings Recommended by Buffett
- Coca-Cola's Brand Power: Coca-Cola, ranked as the sixth most valuable brand by Forbes in 2020, leverages its strong brand influence and pricing power to maintain a significant presence in retail markets, ensuring stable dividend returns with a 63-year streak of payout increases and a current yield of 2.6%.
- Diversified Beverage Portfolio: Beyond sodas, Coca-Cola has expanded into sports drinks and ready-to-drink alcohol, launching brands like BODYARMOUR and Vitaminwater to adapt to changing consumer tastes, thereby enhancing its market competitiveness and revenue streams.
- Nucor's Sales Surge: Nucor Steel reported a remarkable increase in net sales to $9.4 billion in Q1 2026, up from $7.8 billion a year earlier, with net earnings soaring from $156 million in 2025 to $743 million, reflecting strong demand in construction and infrastructure sectors.
- Future Growth Potential: Nucor's ongoing growth in the data center sector serves as a catalyst for its divisions, and despite a dividend yield of less than 1%, its stock price has surged 113% over the past year, indicating potential returns for investors willing to take on higher risks.
See More
Friday Market Watch: Earnings Reports and Stock Movements
- Workday Earnings Beat: Workday reported earnings that exceeded expectations on both revenue and profit, leading to a stock price increase of over 7%, while also raising its full-year margin outlook, indicating the effectiveness of its AI strategy and potentially attracting more investor interest.
- Deckers Sales Growth: Deckers Outdoor reported a 14.5% increase in Hoka sales and a 9.2% increase in Ugg sales, although its stock fell about 2.5%, the company provided full-year guidance above Wall Street expectations, indicating strong market demand.
- Take-Two Stock Rally: Take-Two Interactive shares rose over 3% after reaffirming that Grand Theft Auto VI will be released in November, despite facing multiple delays, this news may restore market confidence in its future revenues.
- Zoom Guidance Raised: Zoom Communication's earnings beat expectations, with a stock price increase of over 7% and an upgraded full-year guidance, leading KeyBanc to raise its rating from sell to hold, reflecting improved profitability and steady market performance.
See More
Bank of America: Investment Strategies Amid Persistent Inflation
- Persistent Inflation: According to Bank of America, the consumer price index rose 0.6% in April, bringing the annual rate to 3.8%, the highest since May 2023, indicating that inflation remains far from the Federal Reserve's 2% target, necessitating a reassessment of asset allocations by investors to navigate the high inflation environment.
- Commodity Investment Opportunities: Bank of America's strategists highlighted that commodities have performed well, with copper reaching a record high this week and oil prices remaining elevated due to the Iran conflict, recommending investors consider stock ETFs in metals and mining, such as the iShares U.S. Basic Materials ETF (IYM), which is up over 20% year to date.
- Small Cap Value Investments: The bank touted U.S. small cap value stocks as one of the least expensive trades, even after returning 15% to 17% year to date, while also mentioning international small cap value, specifically the Avantis International Small Cap Value ETF (AVDV), which is up 17% in 2026.
- Nuclear Energy Investment Outlook: Bank of America's commodities team forecasts uranium prices to reach $135 by 2027, challenging historical highs, and recommends the Global X Uranium ETF (URA) as a play on this theme, which has risen 22% this year and offers a current dividend yield of nearly 4%.
See More
Analysis of High Dividend ETF Investment Strategies
- FDVV ETF Overview: The Fidelity High Dividend ETF has achieved an average annual return of 13.3% since its launch in September 2016, with a current dividend yield of 2.8%, highlighting its appeal in high-dividend investing, although its top four holdings are all tech stocks, which may impact investors' diversification strategies.
- NOBL ETF Advantages: The ProShares S&P 500 Dividend Aristocrats ETF consists of 69 companies that have paid and increased dividends for at least 25 years, offering a dividend yield of 2.09%, nearly double that of the S&P 500 index, and its P/E ratio of 21 is lower than the S&P 500's 31.9, indicating strong fundamentals.
- Fee Comparison: FDVV has an expense ratio of 0.15%, while NOBL charges 0.35%, making FDVV more cost-effective, appealing to long-term investors seeking low-cost high-dividend investment options.
- Investment Recommendation: Although both ETFs have underperformed the S&P 500 index in recent years, FDVV may be more suitable for investors looking to diversify within high-dividend stocks due to its lower fees and higher dividend yield.
See More
Roundhill Memory ETF DRAM Attracts Over $5 Billion in Investments
- Memory Supercycle: The Roundhill Memory ETF (DRAM) attracted over $5 billion in investments within a month, including $1.1 billion on Thursday alone, indicating strong market demand for memory stocks driven by surging AI computing needs.
- Core Holdings Performance: The ETF's core holdings feature leading memory manufacturers like SK Hynix, Micron, and Samsung, allowing investors to gain broad exposure to these high-growth companies, including those not listed on U.S. exchanges.
- Market Reaction: Micron's stock surged over 200 points in a week, climbing from $542 to $747, reflecting optimistic market expectations for memory product demand, with a price-to-earnings ratio of only 9 times projected earnings for the next 12 months, highlighting its appeal as a quality stock.
- Investment Opportunities: Despite waning interest in data center stocks, investors can still capitalize on potential gains in the memory and cooling sectors by purchasing instruments like the DRAM ETF, especially as major tech companies continue to invest heavily in data centers.
See More
