Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Top AI Add On Plays After Nvidia’s Strong Earnings Report

by May 25, 2023
May 25, 2023
Top AI Add On Plays After Nvidia’s Strong Earnings Report

Shares of Nvidia (NVDA) soared today after the company reported earnings that were well above estimates. Most impressive however, was the company’s estimates for next quarter’s revenues which was more than 50% above Wall Street estimates. NVDA cited surging demand for its chips that help with artificial intelligence applications and the stock is poised to trade higher. Subscribers to my MEM Edge Report will be familiar with NVDA as we added the stock to our Suggested Holdings List last January where we’ve since provided buy signal alerts.

In addition to Nvidia, those wanting to participate in the AI driven growth trend can look to companies that provide products to the company which is a leader in AI.  Taiwan Semiconductor (TSM) is one such company.  As the most advanced chipmaker in the world, they  manufacture the chips used by NVDA and TSM gets a cut of whatever Nvidia makes.

DAILY CHART OF TAIWAN SEMICONDUCTOR (TSM)

Taiwan Semiconductor (TSM) Gapped up 12% on very heavy volume today. The high volume indicates that the stock is being accumulated and it often points to further upside.

Netherlands based Semiconductor Equipment manufacturer ASML (ASML) is the only company in the world that can make its extreme ultraviolet (EUV) lithography machine. This tool is required by companies such as TSM and other chipmakers in the AI space. ASML broke out of a 4-month base on heavy volume today. Base breakouts often precede lengthier uptrends and the longer the base, the longer the advance out of that base.

DAILY CHART OF ASML HOLDING (ASML)

With each of these companies being in the Semiconductor industry, you’ll want to keep an eye on a Semiconductor ETF such as SOXX. In the chart below, you’ll see positive momentum in the group with a positive RSI and MACD as well. Semi stocks are highly cyclical and can pull back amid any hints of an economic slowdown. A break below the 50-day moving average coupled with a negative RSI or MACD would indicate a reversal of the current uptrend.

DAILY CHART OF iSHARES SEMICONDUCTOR ETF

Warmly,

Mary Ellen McGonagle, MEM Investment Research

*This article was published earlier today at SimplerTrading.com

0
FacebookTwitterGoogle +Pinterest
previous post
GNG TV: “Building” Go Trends in US Equities
next post
Use ADX to Define WHAT to Do

You may also like

A Strong Week: Stocks, Gold, and Crypto’s Robust...

October 18, 2024

Weak September Rotation – What Does it Mean...

August 28, 2024

Finding Pure Strength Using the PMO (DP Trading...

January 22, 2024

Is This the Confidence Trap That Could Wreck...

April 15, 2025

Be Careful With These Topping Candles

February 2, 2025

Fresh Trade Opportunities as Market Eases Up on...

December 2, 2023

Week Ahead: NIFTY May Stay Vulnerable At Higher...

October 7, 2023

Where Are We? Can We Say This Is...

May 14, 2023

Week Ahead: Festive & Truncated Week May See...

October 23, 2022

Is This The Magic Upward Break Everybody Was...

May 17, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • FAST distribution and IA

      June 7, 2025
    • Why Independent Digital Platforms Are Gaining Ground Among UK Entrepreneurs

      June 7, 2025
    • Is Decentralisation the Future of Online Services in the UK?

      June 7, 2025
    • TSA tells Americans their Costco cards won’t fly at airport security despite love for hot dogs

      June 7, 2025
    • Trump announces China will restart rare earth mineral shipments to US after productive call

      June 7, 2025
    • Musk feud presents ‘unprecedented’ dynamic compared to past Trump disputes: expert

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,558)
    • Stocks (3,134)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved