Bubble In AI Stocks Is Still Inflated

Bubble In AI Stocks Is Still Inflated – Here’s Proof

Mar 25, 2024Jeremy ParkinsonFinance0

Image Source: Pixabay

Introduction
Peter Thiel, co-founder of data analytics group Palantir, Amazon founder Jeff Bezos, and Mark Zuckerberg, Meta’s chief executive have sold hundreds of millions of dollars of their companies’ shares this quarter. Could this be a signal that recent stock market exuberance in AI stocks is peaking? Not according to our analysis of the overall situation. Let me explain.According to Ben Silverman. Verity LLC vice-president of research, which tracks insider trading disclosures, insider share sales are seen as a negative data point that investors should be aware of and a report from the University of Delaware maintains that insider sales by high-level execs of large amounts of stock means they have found a better place to deploy their assets than the businesses they are running.” SourceWhile that may, indeed, be the case, from their perspectives, the performance of the top 16 AI stocks in bubble mode – stocks that have appreciated by more than 20% YTD – were UP 3.8% last week, are UP 7.2% MTD and are still UP 50.7% YTD suggesting that the bubble in artificial intelligence stocks continues as outlined in this article.

The 16 AI Stocks Still In Bubble Mode
The 16 AI bubble stocks are ranked below in descending order of their performances last week as well as MTD and YTD:

Arista Networks (ANET): UP 10.3% last week; UP 10.4% MTD; UP 30.1% YTD

Broadcom (AVGO): UP 9.5% last week; UP 4.1% MTD; UP 21.3% YTD

Lam Research (LRCX): UP 7.5% last week; UP 4.2% MTD; UP 24.8% YTD

Nvidia Corporation (NVDA): UP 7.3% last week; UP 19.2% MTD; UP 90.4% YTD

Uber Technologies (UBER): UP 5.5% last week; UP 0.9% MTD; UP 30.3% YTD

Meta Platforms (META): UP 5.3% last week; UP 3.9% MTD; UP 44.0% YTD

Dell Technologies (DELL): UP 4.9% last week; UP 18.6% MTD; UP 46.7% YTD

Spotify Technology (SPOT): UP 3.9% last week; UP 3.3% MTD; UP 41.0% YTD

CrowdStrike Holdings (CRWD): UP 3.8% last week; UP 1.1% MTD; UP 28.3% YTD

Palantir Technologies (PLTR): UP 2.9% last week; DOWN 3.6% MTD; UP 40.8% YTD

Advantest Corporation (ATEYY): DOWN 0.2% last week; DOWN 7.6% MTD; UP 28.6% YTD

Advanced Micro Devices (AMD): DOWN 6.0% last week; DOWN 6.7% MTD; UP 21.9% YTD

D-Wave Quantum (QBTS): DOWN 6.7% last week; UP 4.9% MTD; UP 120.5% YTD

Super Micro Computer (SMCI): DOWN 9.0% last week; UP 12.3% MTD; UP 242.2% YTD

Rigetti Computing (RGTI): DOWN 17.3% last week; DOWN 13.3% MTD; UP 239.6% YTD

SoundHoundAI (SOUN): DOWN 27.7% last week; DOWN 13.3% MTD; UP 293.9% YTD

Summary
On average, the above 16 AI stocks were UP 3.8% last week, are UP 7.2% MTD and are UP 50.7% YTD. In addition, the 91 AI stocks in the AIQ Global X Artificial Intelligence & Technology ETF (AIQ) were UP 2.6%, on average, last week, are UP 2.1% MTD and are UP 9.1% YTD.ConclusionAs we see it from our above analyses the bubble in AI stocks is still inflated.More By This Author:Largest Cannabis MSO Stocks Advanced 8.5%, On Average, Last Week
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