Tesla's 9-Day Winning Streak In Question As Nvidia, Apple, Microsoft, And Other Mag 7 Stocks Rise, Forecasts Gary Black (CORRECTED)
Portfolio Pulse from Benzinga Neuro
Tesla is on an 8-day winning streak with a 36% increase, outperforming the Nasdaq 100's 4% rise. Gary Black predicts the streak could extend to 9 days. Other 'Magnificent 7' stocks like Apple, Amazon, Meta, Alphabet, Microsoft, and Nvidia also saw gains. Analysts may revise Tesla's earnings estimates and price targets positively. Despite bullish sentiment, some analysts remain skeptical about Tesla's valuation.
July 08, 2024 | 2:17 am
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POSITIVE IMPACT
Apple saw a 7% increase during the same period as Tesla's 8-day winning streak. The positive performance of 'Magnificent 7' stocks, including Apple, indicates a favorable market sentiment.
Apple's 7% increase during the same period as Tesla's winning streak suggests a positive market sentiment, likely leading to short-term gains.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Amazon saw a 7% increase during the same period as Tesla's 8-day winning streak. The positive performance of 'Magnificent 7' stocks, including Amazon, indicates a favorable market sentiment.
Amazon's 7% increase during the same period as Tesla's winning streak suggests a positive market sentiment, likely leading to short-term gains.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Bitdeer secured a leading ASIC market position with the acquisition of FreeChain. This strategic move could enhance Bitdeer's market presence and growth potential.
Bitdeer's acquisition of FreeChain to secure a leading ASIC market position suggests potential growth and market presence enhancement, likely leading to short-term gains.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Alphabet saw a 5% increase during the same period as Tesla's 8-day winning streak. The positive performance of 'Magnificent 7' stocks, including Alphabet, indicates a favorable market sentiment.
Alphabet's 5% increase during the same period as Tesla's winning streak suggests a positive market sentiment, likely leading to short-term gains.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Meta Platforms saw a 7% increase during the same period as Tesla's 8-day winning streak. The positive performance of 'Magnificent 7' stocks, including Meta, indicates a favorable market sentiment.
Meta's 7% increase during the same period as Tesla's winning streak suggests a positive market sentiment, likely leading to short-term gains.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Microsoft saw a 4% increase during the same period as Tesla's 8-day winning streak. The positive performance of 'Magnificent 7' stocks, including Microsoft, indicates a favorable market sentiment.
Microsoft's 4% increase during the same period as Tesla's winning streak suggests a positive market sentiment, likely leading to short-term gains.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nvidia saw a 1% increase during the same period as Tesla's 8-day winning streak. The positive performance of 'Magnificent 7' stocks, including Nvidia, indicates a favorable market sentiment.
Nvidia's 1% increase during the same period as Tesla's winning streak suggests a positive market sentiment, likely leading to short-term gains.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Tesla has experienced an 8-day winning streak with a 36% increase, significantly outperforming the Nasdaq 100. Gary Black predicts the streak could extend to 9 days. Analysts may revise earnings estimates and price targets positively.
Tesla's significant outperformance and potential for continued gains, along with possible positive revisions in earnings estimates and price targets, suggest a likely short-term price increase.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100