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🔹 Blue 'Chip' Stocks
One billionaire investor is still bullish on some of the hottest names in the market.
Brooks Dyroff
January 23, 2024
Happy Tuesday Zingers! There were a lot of incredible athletic feats last weekend. Benzinga’s own Detroit Lions won their first playoff game in more than 30 years. Patrick Mahomes and the Kansas City Chiefs went on to win their 6th straight AFC Championship game. But the most impressive? I’d have to go with the man who ran an entire marathon while chainsmoking cigarettes. He finished in 3 hours in 33 minutes.
But please — and I really do mean this — do not try that at home.
Today, we’re taking a look at why some investors see more upside for blue “chip” stocks like NVIDIA and AMD, details on the SEC’s X hack and more.
And, did someone forward you this email? Click here to subscribe to this Benzinga newsletter and more.
MARKET SNAPSHOT
Yesterday: It’s a strange time when all-time records are “just another day.” The S&P 500 and Dow both set new records again. Can it continue?
On Our Radar: Some big-hitters will report earnings today. We’ll hear from $RTX, $JNJ, $GE and more before the open, then $NFLX will report after the bell.
TOP STORY
Briefly: Breyer Capital founder and CEO Jim Breyer named two companies he believes are positioned to reap the benefits of widespread AI adoption.
So Basically: Breyer highlighted healthcare applications, particularly drug discovery and development, as some of the most significant use cases for AI.
So Then: Breyer noted that advanced healthcare-focused AI applications, including imaging and data optimization, require high-end hardware from two names that may sound familiar: NVIDIA and AMD.
So What? Breyer touted NVIDIA as an "underappreciated AI story" in early 2023. The stock went on to gain more than 230% on the year. Now he expects the company to continue to thrive. Will he be proven right again?
What Next: Check out the full story here.
PRESENTED BY LASER PHOTONICS
In the world of manufacturing, safety is everything. That is why the EPA and OSHA implement such strict rules and regulations. With sand-blasting and other industrial technologies coming under more and more criticism, laser technology is positioned as the best alternative.
Laser Photonics Corporation (NASDAQ: LASE) has developed a safe, cost-effective and time-efficient alternative to sandblasting. Laser Photonics’ CleanTech lasers are known for their advanced dual-axis technology and cutting-edge safety features that have contributed to the company’s reputation as a world-class laser solution provider.
FIVE ZINGERS
Marchin’ On: Traders are losing faith the Fed will cut rates in March. But they’re still betting on six cuts by the end of the year.
Skrttt: Vroom stock was doing more skrttting than vrooming yesterday. Shares dropped more than 40% after the close.
Cramer Charm: Cramer is bearish on Bitcoin at $40k and some crypto traders are thanking him for the potential jinx.
Sky Wars: We examined Southwest Airlines’ stock compared to United. Here’s which company offers more upside.
Homewreckers: Here’s why one analyst is getting bearish on homebuilders such as Toll Brothers.
ONE FOR THE ROAD
Briefly: The fake tweet sent by the SEC’s official X account announcing the approval of spot Bitcoin ETFs was the result of a “SIM swap” attack.
A What? SIM swaps typically involve cybercriminals convincing a mobile service provider to transfer control of a phone number to a new SIM card, enabling them to reset passwords and hijack accounts.
What Else: This kind of attack is not uncommon in the crypto world. Last September, Ethereum co-founder Vitalik Buterin lost access to his X account, leading to over $691,000 stolen from his followers through a malicious link.
What Next: Read the full story here.
PRESENTED BY LASER PHOTONICS
In the world of manufacturing, safety is everything. That is why the EPA and OSHA implement such strict rules and regulations. With sand-blasting and other industrial technologies coming under more and more criticism, laser technology is positioned as the best alternative.
Laser Photonics Corporation (NASDAQ: LASE) has developed a safe, cost-effective and time-efficient alternative to sandblasting. Laser Photonics’ CleanTech lasers are known for their advanced dual-axis technology and cutting-edge safety features that have contributed to the company’s reputation as a world-class laser solution provider.