Intel
INTC:NAS has rallied following the breakout above the $31 resistance. Several analysts have upgraded their price targets, and commentary has generally turned bullish. The trailing stop loss should be lifted to $32.50.
Micron is up 134%
MU:NAS was added to our model portfolio in March 2023 at $56 and is now up 134%. We recommend watching for the next Algo Engine buy signal.
Micron reported 50% sequential data center revenue growth in Q3, driven by AI demand. The company is well-positioned to benefit from the CHIPS Act and plans to expand its manufacturing.
US Earnings
Thursday, July 11 – Delta Air Lines, PepsiCo, and Conagra Brands.
Friday, July 12 – Citigroup, JPMorgan Chase, Bank of New York Mellon, and Wells Fargo.
Raytheon
RTX:NYS is rated a buy with a stop loss at $93.00
GE Healthcare
GEHC:NAS is rated a buy with a stop loss at $74.51
Medical Devices ETF
IHI:ARC is rated a buy with a stop loss at $54.17
Okta
OKTA:NAS is rated a buy with a stop loss at $85.80
AMD
AMD:NAS is rated a buy with a stop loss at $153.64
Intel
Revenue increased from $11.7b in Q1/23 to $12.7b in Q1/24, resulting in 8.6% year-over-year growth.
Intel is now reporting in two major segments – Intel Foundry and Intel Products.
The chart pattern shows support at $30.00
The long-term chart suggests investors should accumulate the stock within the $25 – $35 range and look for a multi-year recovery starting in 2025.
Alibaba
Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary Alibaba’s investments in cloud & AI sets up the company for significant future gains.
We rate Alibaba a buy with a stop loss at $71.80
Level 29 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453
Send our ASX Research to your Inbox
Or start a free thirty day trial for our full service, which includes our ASX Research.