Marvell Technology saw a rise of about 8% after hours following a better-than-expected revenue report in the latest quarter. However, the stock is still down 18% from its March high. The VanEck Semiconductor ETF (SMH) is currently 16% from the July 11 high, with a year-to-date increase of 36%. Marvell holds a significant position as the 17th largest holding in the SMH, making up 1.78% of the ETF’s portfolio.
Nvidia reported doubling revenue from the year-ago period, causing a 16.5% decline from the June 20 high. On Friday, CNBC will delve into the cooling technology industry for chipmakers like Nvidia, highlighting companies such as Vertiv, Schneider Electric, and nVent Electric. While Vertiv is 27% down from the May high, it has seen a 66% increase in 2024. Schneider Electric is currently 2% down from the May high, with a 26% increase in 2024. Similarly, nVent Electric is 23% down from the May high but has seen a 13% rise in 2024.
CNBC will report on tensions in China’s “iPhone City” over concerns about businesses moving to other parts of the world, including India. Apple shares are currently 3% down from the July 15 high, showing a 20% increase in the last three months.
Big tech names like Apple and Nvidia have shown interest in OpenAI. Microsoft, already involved, is 12% down from the July 5 high, with a 10% growth in 2024. Social media platform X is attracting attention in San Francisco, with other companies adjusting office spaces for artificial intelligence ventures. Office real estate investment trusts like BXP and CBRE have hit new highs, with BXP up 30% and CBRE up 33% in the last three months.
A French software maker is set to release a new video game, “Star Wars Outlaws,” on Friday. The company is down 26% so far this year, while Electronic Arts is 2% down from the July 31 high, showing a 14% increase in the last three months. Despite the tech trends, the 30-stock Dow reached a record high, with non-tech companies like Nike, McDonald’s, Walmart, Coca-Cola, 3M, Travelers, and JPMorgan leading the pack in monthly gains.
The stock market is a dynamic environment influenced by various factors such as earnings reports, global trends, and technological advancements. Keeping a close eye on these developments can provide valuable insights for investors and traders looking to navigate the ever-changing landscape of the financial world.