Seven major stocks—— amazon.com (Amazon), apple (AAPL), Google parent company letter (Google), meta platform (Mehta), Microsoft (Microsoft Corporation), Nvidia (NVDA) and Tesla (Tesla)—November overall is looking pretty good so far.
As the Nasdaq index performs Follow-up day Indexes on November 1 and the S&P 500 on November 2, the Big Seven are driving the newly confirmed market rally.
Large-cap stocks are the big winners in 2023, with the S&P 500 up more than 5.3% so far this month. All stocks except Google stock and Tesla beat the Nasdaq’s 7.4% gain in November. All of these stocks are major components of the S&P 500 and Nasdaq.
While Nvidia and Microsoft are at the forefront of the AI craze, Meta, Google and Amazon are pushing their own AI developments, and Tesla has also claimed to have AI intentions. Apple has not signaled its artificial intelligence ambitions, although CEO Tim Cook said the company is “investing quite a bit” in it.
Apple stock, Meta Platforms, Nvidia and Microsoft are all in buy range. AMZN stock falls somewhere in between Buy pointsGoogle stock is recovering after a brutal post-earnings selloff.
Tesla stock is the only one still viable.
Amazon stock, Microsoft, Nvidia and Meta platforms are all listed IBD rankings.META stock is now online swing traderMSFT stock is located at IBD Long-Term Leader Nvidia stock and Microsoft are on the list IBD50MSFT stock and Meta platforms are located at IBD Large Cap 20.
Top 7 Stock Performances
|stock ticker||company||Stock gains in November||year-to-date earnings|
|S&P 500 Index||5.3%||15%|
S&P 500: Apple Stock
Apple shares have risen 9.2% so far in November. After hitting multi-month lows on October 26, the iPhone giant has rebounded. Despite lower holiday quarter revenue guidance, AAPL stock regained its 50-day line on Nov. 2 as the S&P 500 ushered in a follow-on move.
On November 6, Apple stock price rebounded from the 50-day line and just crossed the downward sloping trend line, providing an early entry opportunity. Two trading days later, the Dow Jones technology giant hit a new short-term high of $182.34. Apple shares can still take action from these entries.
Ideally, Apple stock will form a handle before consolidating, lowering the official buy point from the current level of 198.23.
Apple shares are up 43.5% so far in 2023.
One concern is growth. Apple’s fourth-quarter profit rose 13%, the second consecutive quarter of accelerated growth. But revenue has fallen for four consecutive quarters compared with the same period last year.
Amazon’s stock price bottomed on October 26, just before third-quarter earnings were released. The stock price rebounded on the performance and was slightly above the 50-day moving average at the end of last month.
In November, Amazon’s stock price rose 7.9%. On Nasdaq’s FTD on November 1, the stock decisively broke through the 50-day moving average, breaking through 134.48 points in early trading. Amazon has been climbing towards an official 145.86 buy point, but is now slightly beyond 145.86. Get in early.
this relative strength line It’s at a 52-week high on the weekly chart.
In 2023, Amazon’s stock price rose 70.9%.
Amazon’s sales growth has picked up slightly in the past two quarters, reaching 13% in the third quarter. Earnings per share rose sequentially from 3 cents in the fourth quarter of 2022 to 31 cents in the first quarter, 65 cents in the second quarter and 94 cents in the third quarter.
Google shares rose 6.9% in November, but fell 5.2% in October, especially due to disappointing growth in Google Cloud, falling 9.9% in the week ended October 27.
Since then, the stock price has rebounded. GOOGL stock is currently slightly below its 50-day line. The internet giant has a buy point of 141.22 flat baseA decisive move above the 50-day moving average could allow Google stock to break above the short-term trendline for early entry.
GOOGL shares have risen 50.3% this year.
Google’s profit and sales growth have picked up over the past three quarters, reaching 42% and 11% respectively in the third quarter.
Meta shares are up 9.1% so far this month.
Shares bottomed on Oct. 26 amid caution about advertising revenue starting in the fourth quarter. But the social media chart closed well below the lows.
On November 1, Meta stock rallied above its 50-day moving average and just cleared the short-term trendline, providing an early entry opportunity. The stock price continues to climb. On November 10, Meta retook its old buy point of 326.20 which was still available to investors. Investors could also use the October 12 high of 330.54 as an alternative entry point into a short consolidation that was slightly deeper than enough to constitute a flat bottom.
The RS line is at a two-year high.
Meta stock soared 173.2% in 2023, becoming the S&P 500’s second-biggest gainer.
Meta earnings rebounded due to rebounding advertising revenue and cost controls. Earnings per share soared 168% from the same period last year, accelerating growth for the third consecutive quarter. Sales surged 23%, achieving greater sales growth for the third consecutive quarter.
Microsoft shares have risen 9.3% so far in November.
The stock price bottomed out in late September and rebounded. On November 1, Microsoft’s stock price broke through short-term highs and trend lines, providing early entry opportunities. The stock price continues to rise. On November 10, Microsoft’s stock price exceeded 366.78 points bottom of cup Buy some.
The RS line has been making new highs over the past few weeks.
One issue worthy of attention is that Microsoft’s stock price is 11.2% higher than its 50-day moving average. Investors can wait and see whether the stock price pauses for a few days, perhaps forming a high that allows the 50-day moving average to recover.
MSFT shares have risen 54.1% this year.
Microsoft’s profit and sales growth accelerated for three consecutive quarters, reaching 27% and 13% respectively.
On Wednesday, the Dow Jones tech giant will announce its The latest advances in artificial intelligence at the Ignite 2023 event on Wednesday. There are reports that Microsoft may launch its own AI chip to reduce its dependence on Nvidia GPUs.
Nvidia shares have soared 18.5% so far in November.
Shares bottomed on October 31, hitting a five-month low, but closed nearer the session high. Since then, NVDA stock has risen every day in November.
On November 3, this AI chip leader regained its 50-day line. On November 8, NVIDIA’s stock price broke through the downward sloping trend line, providing an opportunity for early entry. On November 10, the stock price closed at 476.09, the buying point above the double bottom.
The RS line is at all-time highs.
One problem with Nvidia stock’s chart is that the recent rally has come on lower than average volume. Nov. 9 was the first positive day on strong volume in more than two months, and the stock closed near its session low.
NVDA shares have surged 230.7% in 2023, making it the best-performing stock in the S&P 500 this year.
Nvidia’s growth is growing rapidly. Second-quarter profits soared 429% and revenue soared 101%. Investors may be hoping for another strong showing in its third-quarter report due out on November 21.
S&P 500: Tesla Stock
Tesla’s stock price rebounded 6.9% in November, but had fallen for three consecutive months, including a 19.7% plunge in October.
The stock price bottomed on October 31 and closed higher that day. For several days, Tesla’s stock price has been fluctuating near the 200-day line, but it has never cleared decisively. The stock price fell sharply on November 9 and then rebounded slightly the next day.
On top of that, the electric vehicle giant is the only top seven stock that’s not in the buy range or close to it. The RS line is just above five-month highs.
TSLA shares have risen 74.3% this year.
Tesla’s third-quarter profit plunged 37% to 66 cents per share, the lowest level in two years. Revenue growth slowed to only 9%. It is expected that fourth-quarter and full-year profits will fall sharply. A Cyber The truck delivery event is scheduled for November 30, but CEO Elon Musk has made it clear that the cars won’t bring financial benefits for quite some time.
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