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NVIDIA shares have outperformed the Zacks Semiconductor – General industry over the year-to-date period (+77.2% vs. +54.0%) reflecting the company’s leadership in the artificial intelligence (AI) space.
The data center end-market business is benefiting from the growing demand for generative AI and large language models using graphic processing units (GPUs) based on NVIDIA Hopper and Ampere architectures. A surge in hyperscale demand and higher sell-ins to partners across the Gaming and ProViz end markets following the normalization of channel inventory are acting as tailwinds.
Collaborations with Mercedes-Benz and Audi are likely to advance its presence in the autonomous vehicles and other automotive electronics space. However, its near-term prospects are likely to be hurt by softening IT spending amid macroeconomic headwinds.
(You can read the full research report on NVIDIA here >>>)
Shares of Alphabet have modestly outperformed the Zacks Internet – Services industry over the year-to-date period (+23.1% vs. +20.0%). The company’s first-quarter results were driven by solid momentum in the cloud business. Further, improving Search performance on the back of major Search updates, was a positive.
Also, the strength of YouTube contributed well. Notably, robust cloud division remains the key catalyst. Expanding data centers will continue to bolster its presence in the cloud space. Strengthening generative AI capabilities should aid business growth in the long term. Alphabet’s deepening focus on the wearables category remains a tailwind. Expanding presence in the autonomous driving space is a plus.
However, sluggish Network advertisement business is a negative. Increasing litigation issues and expenses remain concerns. Rising cloud competition from Microsoft (MSFT) and Amazon is a concern.
(You can read the full research report on Alphabet here >>>)
Amazon.com shares have outperformed the Zacks Internet – Commerce industry over the year-to-date period (+18.2% vs. +10.6%) on the back of momentum in its Prime unit and the favorable outlook for its cloud business.
Additionally, the strong adoption rate of AWS is aiding the company’s cloud dominance. Expanding AWS services portfolio is continuously helping Amazon in gaining further momentum among customers. The company’s strong global presence and solid momentum among the small and medium businesses remain tailwinds.
Growing capabilities in grocery, pharmacy, healthcare, and autonomous driving are other positives. Also, deepening focus on generative AI is a major plus. However, adverse macroeconomic challenges remain headwinds. Rising transportation and fulfillment center costs are concerns.
(You can read the full research report on Amazon.com here >>>)
Other noteworthy reports we are featuring today include NextEra Energy, Inc. (NEE), Blackstone Inc. (BX), and Marriott International, Inc. (MAR).
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