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Nvidia's GTC 2024 event, termed the 'AI Woodstock', is anticipated to showcase groundbreaking AI innovations, driving significant analyst enthusiasm. Wedbush analyst Daniel Ives predicts the event will catalyze over $1 trillion in AI investments over the next decade, marking a pivotal moment in the AI Revolution. The introduction of the Blackwell B100 AI chip is highlighted as a key milestone. Major tech companies like Microsoft, Alphabet, Amazon, Oracle, and Meta are noted for their transformative AI investments. The AI sector's growth is expected to significantly impact IT budgets and spur additional spending across software, IT services, and infrastructure. The article also mentions the positive outlook for cloud cybersecurity firms like Zscaler, CrowdStrike, and Palo Alto Networks due to increased AI adoption. Analysts from Truist Securities and HSBC have raised their price targets for Nvidia, reflecting a bullish sentiment on the stock.

Portfolio Pulse from Anusuya Lahiri

March 18, 2024 | 4:56 pm

TDOC

Teladoc Health (NYSE:TDOC) has seen a decrease in short interest, with 19.23 million shares sold short, representing 13.21% of its float. This is a decline of 16.34% from its last report, indicating a potential shift in market sentiment towards the stock. The current short interest suggests a more bullish outlook compared to the peer group average of 4.77% short interest as a percentage of float.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 4:45 pm

ACGL

Arch Capital Group (NYSE:ACGL) has seen a 9.18% increase in short interest since its last report, with 3.41 million shares sold short, representing 1.07% of its float. The short interest now takes approximately 2.04 days to cover. This rise in short interest indicates a more bearish market sentiment towards ACGL, although it has less short interest compared to its peer group average of 1.90%. The increase in short interest can be a complex indicator, potentially bullish under certain conditions.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 4:45 pm

BTCUSD

ETHUSD

Bitcoin sentiment remains bullish with investors betting on prices reaching $100K-$150K, despite recent volatility. QCP Capital's report highlights increased buying activity for Bitcoin put options and long-dated calls, indicating a return of investor greed. Conversely, Ethereum shows signs of investor nervousness with negative perpetual funding rates and a downside skew in risk reversals. QCP also introduces a 'Fear + Greed' trade idea for Bitcoin, offering a fixed weekly coupon and downside protection.

Portfolio Pulse from Murtuza Merchant

March 18, 2024 | 4:41 pm

RIOT

Deep-pocketed investors have shown a bullish sentiment towards Riot Platforms (NASDAQ:RIOT), with a significant move in options trading detected by Benzinga. The activity includes 13 extraordinary options activities, with a lean towards bullish sentiment (53%) over bearish (46%). Notable options activity includes both calls and puts with strike prices ranging from $10.0 to $40.0. Riot Platforms, a Bitcoin mining company, has seen its stock price decrease by -1.21%, with an average analyst price target of $19.6. The next earnings report is expected in 51 days.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 4:31 pm

MARA

Whales have shown a bullish stance on Marathon Digital Holdings (MARA), with 63% of detected options trades being bullish. The trades indicate a targeted price range of $12.5 to $50.0 for MARA over the last 3 months. Significant options trades include both puts and calls, with varying sentiments and strike prices. MARA focuses on mining digital assets and its stock price is currently at $18.99, down by -1.71%. Analysts have an average target price of $31.67 for MARA, with ratings from Neutral to Buy.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 4:31 pm

NKE

Over the past 15 years, Nike (NYSE:NKE) has delivered an average annual return of 15.52%, outperforming the market by 2.37% annually. A $100 investment in NKE 15 years ago would be worth $834.08 today. Nike's market capitalization currently stands at $149.80 billion.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 4:30 pm

AZO

Over the past 15 years, AutoZone (NYSE:AZO) has produced an average annual return of 22.0%, outperforming the market by 8.84% on an annualized basis. A $100 investment in AZO 15 years ago would be worth $1,964.93 today, showcasing the impact of compounded returns on cash growth. AutoZone's current market capitalization stands at $54.09 billion.

Portfolio Pulse from Benzinga Insights

March 18, 2024 | 4:30 pm

LTCUSD

Litecoin (LTC) is trading lower by 3.7% to $82.03, influenced by a pullback in Bitcoin after it hit a new all-time high. Bitcoin's performance often affects the broader cryptocurrency market, including Litecoin, as investors adjust their positions based on Bitcoin's movements.

Portfolio Pulse from Henry Khederian

March 18, 2024 | 4:30 pm

BCH

Bitcoin Cash (CRYPTO: BCH) is trading lower by 4% to $385.94, influenced by a pullback in Bitcoin after it hit a new all-time high. The lower liquidity of Bitcoin Cash compared to Bitcoin may lead to more significant price declines. Additionally, psychological effects from Bitcoin's new highs may cause investors to sell off altcoins like Bitcoin Cash.

Portfolio Pulse from Henry Khederian

March 18, 2024 | 4:29 pm