3M stock just had its best day on record, leaving investors slack-jawed. They aren’t exactly sure why. The answer is surprisingly simple though: It’s growth. 3M stock gained 23% on Friday after reporting better-than-expected second-quarter earnings. It was the best one-day move for the stock on record, according to Dow Jones Market Data. They looked
The market cap of AI chip maker Nvidia passed $3 trillion in the second quarter. Because microchips are made from silica, it’s tempting to say that Nvidia’s entire capitalization is built on sand. But nothing is firmer than Wall Street’s belief in artificial intelligence. The behemoth’s stock surged 37% in the past three months and
Enthusiasm about artificial intelligence has fueled a good portion of the stock market’s rally in recent years. That’s unlikely to change soon, but investor interest could move from company to company, at least temporarily. The Magnificent Seven—Google parent Alphabet , Amazon.com , Apple , Facebook parent Meta Platforms, Microsoft , Nvidia , and Tesla —that
The world’s largest hedge fund recently loaded up on shares of some members of the Magnificent Seven tech stocks, and halved an investment in a Chinese maker of electric vehicles. Bridgewater Associates made a big bet on Apple stock, more than doubled its stake in Nvidia shares, tripled an investment in Microsoft stock, and cut
Instacart Stock Jumps on More Buyback News. Why Investors Are Bullish.
Shares of Instacart parent Maplebear jumped 9% on Thursday as investors cheered on news of more buybacks from the grocery delivery firm. Instacart’s board approved another $500 million new share repurchase program on June 2, according to a regulatory filing on Thursday. Buybacks are usually a sign of management’s optimism in the company’s growth potential