Benzinga - by Michael Cohen, Benzinga Editor.
Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.
The S&P 500 wrapped up 2023 with a 24% gain, driven by slowing inflation, a strong economy, and the Federal Reserve's hints at ending its rate increases. Despite a slight decline on the final trading day, finishing at 4,769.83, the index nearly reached a record high, falling short by just under 0.2%.
The year concluded positively, with the index experiencing its most extended period of consecutive gains since 2004.
The surge was partly attributed to the strong performance of Big Tech stocks and growing excitement around artificial intelligence, propelling the Nasdaq Composite to its most successful year since 2020.
Both the Dow and Nasdaq also finished the week on an upbeat note, achieving their longest weekly winning streaks since 2019.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.
The Bulls "Microsoft's 'iPhone Moment': Bullish Analyst Hikes Price Target To $450 On Potential $25B AI Revenue Boost From Co-Pilot AI," by Shanthi Rexaline, highlights Daniel Ives' upgraded price target for Microsoft Corp. (NASDAQ: MSFT), driven by its AI advancements and potential $25 billion revenue increase from its Co-Pilot chatbot.
"Cathie Wood Outlines Role Of Bitcoin Post-ETF Approval, Praises 21Shares: 'The Plumbing Works'," by Khyathi Dalal, reports on Cathie Wood's optimism about the potential SEC approval of a spot Bitcoin ETF and her collaboration with 21Shares on Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC) futures ETF products.
"'Promising Sign For DOGE': Analyst Says Steady Increase In Dogecoin Addresses Could Set Stage For Rally," by Mehab Qureshi, discusses Ali Martinez's analysis that the surge in new Dogecoin (CRYPTO: DOGE) addresses may be a precursor to a potential rally for the meme crypto.
For additional bullish calls of the past week, check out the following:
Crypto Analyst Says This 'Ethereum Killer' Will Get Him Rich In 2024: 'My Thesis On Solana Was..'
EXCLUSIVE: Gene Munster Predicts 1990s-Like Surge In Tech Stocks, Cautions Against AI's 'Bubble-Like' Environment
Tesla Could Start 2024 With A Bang: India Division, Manufacturing Facility Rumors Heat Up
The Bears "Tesla Investor Ross Gerber Worries CEO Musk's 'Extreme' Behavior Could Hit Sales And Damage Brand," by Anan Ashraf, discusses Ross Gerber's concerns that Elon Musk's controversial actions might negatively impact Tesla Inc. (NASDAQ: TSLA) sales and brand reputation, despite his continued bullish stance on the company.
"How A Late-Night Email To Tim Cook 10 Years Ago Possibly Triggered Masimo's Battle To Get Apple Watch," by Ramakrishnan M, delves into the legal battle between Masimo Corporation (NASDAQ: MASI) and Apple Inc. (NASDAQ: AAPL) over alleged patent infringement and talent poaching related to the Apple Watch's blood-oxygen monitoring feature.
"Plug Power's Rocky Road As Hydrogen Dreams Face Financial And Regulatory Challenges," by Surbhi Jain, examines the struggles of Plug Power Inc (NASDAQ: PLUG), including financial woes, project delays, and regulatory issues, casting doubt on its ambitious hydrogen ecosystem plans.
For more bearish takes, be sure to see these posts:
Semiconductor Stocks Soar To All-Time Highs: On Track For Strongest Year Since 2008, But Are They Too Expensive Now?
Meta's Chief AI Scientist Yann LeCun Throws Shade At OpenAI, Says 'Research World Doesn't Care Too Much' About The ChatGPT Creator
'Rapid Descent': Mortgage Rates Are Shocking Experts. Is Housing Getting More Affordable?
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