Indeed, in the year 2024, the stocks of SoundHound AI (SOUN) skyrocketed by an impressive 836%. This significant increase surpassed the stellar performance of many other prominent names often associated with the AI industry’s success story.
The company offers cutting-edge cloud solutions tailored for artificial intelligence applications, primarily utilizing technology from Nvidia (NVDA). This tech giant offers powerful Graphics Processing Units (GPUs) and various AI tools, making them a key player in driving future technological advancements.
Despite most other stocks in the market recovering from their April and May lows, Apple’s stock has remained largely stable but still showing a decrease of around 15% for the year so far. I believe this lack of growth isn’t a sign of a bargain; rather, it could be indicative of future trends. Consequently, it might be wise to sell off shares before Apple releases its next quarterly earnings report on July 31.
One appealing aspect of PepsiCo is its diverse business focus beyond just selling food. Unlike many competitors, it boasts a broad portfolio that includes leading brands in various sectors. For instance, you may recognize its famous soda beverage line, which dominates the company’s beverage division. However, it also stands as the largest manufacturer of popular snack brands (Frito-Lay), and has a substantial packaged food operation under Quaker Oats. Having a variety of growth opportunities and businesses to rely on during challenging times is advantageous.
For a long time, investors had doubts about whether the company could thrive commercially. Despite their focus on expanding into the commercial sector, their financial performance has traditionally trailed that of their primary government-focused operations.
Although CoreWeave appears to be a precarious business, burdened with debt, and subject to the volatile trends of AI cloud spending, it presents a high risk for investors in the future. On the other hand, I foresee that two companies, Coupang (CPNG) and SoFi Technologies (SOFI), will outgrow CoreWeave within the next decade. Here’s why:
1. Coupang: A leading e-commerce company in China, known for its fast delivery services and strong customer loyalty. With continuous investments in technology and infrastructure, it has the potential to expand globally and capture a significant market share.
2. SoFi Technologies: A digital personal finance company offering products like student loan refinancing, mortgages, and wealth management services. With its innovative approach to financial services and growing user base, SoFi could potentially disrupt traditional banking and gain considerable traction in the coming years.
On Thursday, the U.S. House of Representatives endorsed the Genius Act, which positively impacted the value of Dogecoin and other digital currencies. Although its value has increased somewhat recently, Dogecoin’s price is still about 30% lower compared to its year-to-date valuation.
Then the wheels fell off and heightened volatility kicked in.
In the first quarter, Ackman took some noteworthy actions regarding his capital allocation. He chose to offload shares of Alphabet (Google) and instead invested in Uber Technologies, a company that has seen a 266% increase in value since January 2023. The specifics of these transactions are as follows:
1. Ackman sold shares of Alphabet (GOOGL & GOOG).
2. He purchased stocks in Uber Technologies (UBER).
In simpler terms, a stock split allows corporations to adjust the cost of their individual shares without affecting their total value or business operations. Particularly attractive to common investors, forward splits – which make purchasing a company’s shares less expensive – are frequently used.