As the new year of 2024 begins, technology stocks in the US stock market have experienced a brief retreat and are once again soaring before the earnings season, with several major Nasdaq stocks reclaiming the lost ground from the bear market of 2022.
On Friday, Meta Platforms' stock price rose by 2%, continuing its upward trend of over 200% in 2023, indicating that investors are satisfied with Meta Platforms' ongoing measures of staff reduction and cost-cutting.
Moreover, Meta Platforms has also taken a leading position in the latest artificial intelligence competition, thanks to its long-term technological accumulation. Mark Zuckerberg's enthusiasm for artificial intelligence seems to impress investors more than investing in the metaverse.
Earlier this week, Zuckerberg stated on Instagram Reels that Meta Platforms will have 350,000 NVIDIA H100 GPUs by the end of the year. If other GPUs are included, Meta Platforms will have nearly the equivalent of 600,000 H100 GPUs:
&#34;Meta Platforms' new goal is AGI. To achieve this goal, we will need approximately 350,000 NVIDIA H100 GPUs by the end of this year. If we include other GPUs, the total computing power will be equivalent to nearly 600,000 H100 GPUs.&#34;
Currently, Meta Platforms' stock price has fully rebounded from the bear market of 2022. In that year, the stock plummeted by 64% to its lowest point since 2016.
However, Meta Platforms Platforms Platforms Platforms Platforms Platforms Platforms has not yet surpassed its previous high set during the tech stock bull market in September 2021. At that time, Meta Platforms Platforms Platforms Platforms Platforms Platforms Platforms had a market value of nearly $1.1 trillion, while its current market value is less than $1 trillion.
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Meta Platforms Platforms Platforms Platforms Platforms Platforms Platforms will announce its Q4 2023 earnings report on February 1st.
In addition to Meta Platforms Platforms Platforms Platforms Platforms Platforms Platforms, Supermicro's performance on Friday was also impressive, with a 36% surge in a single day, reaching a new all-time high.
The company stated that its second fiscal quarter revenue as of December 31st will reach $3.6 billion to $3.65 billion, significantly higher than the previous expectation of $2.7 billion to $2.9 billion. Adjusted earnings per share are expected to be between $5.40 and $5.55, higher than the previous expectation of $4.40 to $4.48, surpassing Wall Street analysts' expectations of $3.06 billion.
Supermicro is one of the most outstanding tech stocks in 2022 and 2023, with a surge of 246% last year and a 87% increase the year before. Since the end of 2018, Supermicro's stock price has increased nearly 30 times. If you had invested $10,000 in Supermicro stocks five years ago, your holdings would be worth nearly $300,000 today.
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Supermicro manufactures and sells computers to enterprises for website servers, data storage, and AI training. According to a report from Wedbush analysts on Friday, the significant increase in Supermicro's sales is mainly due to the surge in demand for NVIDIA GPUs from large companies.
Based on Supermicro's performance guidance, the company expects its second fiscal quarter revenue to double compared to the same period last year. Supermicro's complete earnings report is scheduled to be released later this month.

NVDA

After a gloomy start to the year for US tech stocks, they have once again rallied together, with several major Nasdaq heavyweights reclaiming lost ground from the 2022 bear market.

New highs! The hot trend is not only limited to NVIDIA and AMD, but also includes Meta Platforms and Supermicro.