U.S. Stock Market Midday Update: Credo Tech up 7.11%

U.S. Stock Market Midday Update

Credo Tech, up 7.11%, has seen a 138.30% increase over the past six months. Based on recent key news:

1. On August 28, Mizuho analysts maintained an outperform rating on Credo Technology Group, with a target price of $135. This news boosted market confidence and drove the stock price up.

2. On August 26, Credo reached a settlement with Volex, resolving a patent infringement dispute over active cables. This news eliminated legal uncertainties, benefiting the stock price.

3. On August 28, significant capital inflows into options trading for Credo Technology Group indicated bullish sentiment in the market, further pushing up the stock price. The technology sector performed strongly overall, with noticeable capital inflows.

Stocks with High Trading Volume in the Industry

Nvidia fell 1.24%, with a trading volume of $27.1 billion. According to recent key news:

1. On August 28, Nvidia announced third-quarter sales expectations of $54 billion, below some analysts' expectations of $60 billion, leading to a post-market drop of about 4% in stock price.

2. On August 28, Nvidia reported data center revenue of $41.1 billion, below the expected $41.3 billion. Although overall revenue exceeded expectations, the market reacted lukewarmly, causing the stock price to decline.

3. On August 28, Nvidia approved a $60 billion stock buyback plan. Although this move aimed to boost the stock price, it failed to offset market uncertainties regarding its outlook. AI demand remains strong, but geopolitical risks are increasing.

AMD fell 0.10%, with a trading volume of $3.383 billion. Based on recent important news:

1. On August 26, Trump announced that the U.S. government would invest $8.9 billion in Intel, raising its valuation floor, which led to a drop in AMD's stock price. Analysts believe AMD is undervalued and expect sales to increase by $6.6 billion by 2027.

2. On August 26, AMD announced a partnership with IBM to develop next-generation computing architecture, combining quantum computing and supercomputing technologies, which boosted the stock price.

3. On August 27, Wall Street analysts upgraded AMD's rating to buy due to the rising adoption rate of its AI chips, driving the stock price up. The semiconductor industry performed strongly overall, with robust AI demand.

Broadcom rose 2.51%, with a trading volume of $2.248 billion. According to recent important news:

1. On August 28, UBS raised Broadcom's target price to $345, reflecting optimism about its AI business. Broadcom is expected to release its financial report on September 4, with anticipated revenue growth of 21% year-over-year, boosting the stock price. Source: Dolphin Research

2. On August 27, Broadcom showcased AI integrations and new security tools developed in collaboration with Nvidia at VMware Explore, driving the stock price up Source: Market Information

3. On August 26, Broadcom was selected by Walmart as a strategic supplier of virtualization software solutions, boosting market confidence. Source: Market Information

Stocks Ranked Among the Top by Market Capitalization

TSMC fell 0.74%, with a market capitalization of $1.23 trillion. According to recent important news:

1. On August 28, the TSMC 2-nanometer technology leak case attracted market attention. Despite swift judicial handling, the stock price was still affected by the performance of international clients and macroeconomic uncertainties, falling by 2.52%. Data source: IT Home.

2. On August 27, TSMC's stock price was influenced by Nvidia's earnings report, with the stock price dropping over 3% in after-hours trading due to uncertainties in the Chinese market and slowing growth in the data center business. Data source: Legal Person Analysis.

3. On August 25, TSMC's stock price rose as concerns over U.S. government equity investment were alleviated, with market capitalization rebounding to NT$30.21 trillion. Data source: Foreign Media Reports