tesla (TSLA), match group (Michi), Google parent company alphabet (Google), adobe (adobe) and Arista Networks (ANET) was the top gainer on the S&P 500 index on the stock market today. super microcomputer (SMCI) is a new member of the S&P 500 and had the worst performance on Monday.
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Google, Adobe, Arista Networks, and Super Micro are all considered AI stocks.
Tesla shares rose 6.3% to 173.88 on Monday, after falling 6.7% last week and 13.5% the week before. The EV giant will raise the list price of the Model Y in the US and Europe on April 1st, but inventory prices have already fallen significantly. Tesla bulls touting the latest fully self-driving beta may also have pushed TSLA stock above the technical rally. Tesla was the worst performing S&P 500 index in 2024 as of March 15th.
Match stock rose 4.7% to 35.13, but remains below its 50-day and 200-day lines. The stock rebounded from its 2024 lows late last week amid talk of a new acquisition for the dating site operator.
Google stock rose 4.6% to 147.68, rebounding above its 50-day moving average and sparking an early entry. GOOGL stock is approaching a consolidated buy point at 153.78.Stock prices soared following the news that apple (AAPL) is in talks with peer company Magnificent Seven to use Google’s Gemini AI engine on the iPhone. Apple stock rose 0.6% to close near its intraday low.
Adobe jumped 4.35% to 513.86, but remains below all moving averages. Shares fell 13.7% on Friday after the software maker issued a weak outlook.
Arista Networks stock rose 4.2% to 289.32, rebounding from its 21-day line and clearing a very short trend line, presenting an aggressive entry. ANET stock is still below the new flat-to-base buy point of 292.66, but it set a new closing price record.
S&P 500 losers
Supermicro shares fell on Monday, dropping 6.4% to 1,000.68. During the day, SMCI stock fell below its 21-day moving average for the first time in two months, but closed above that short-term level. The AI server maker joined the S&P 500 before the start of trading on Monday. The stock was above the 1,000 level on March 4 following the news that Supermicro would be added to the benchmark index. SMCI stock is up 252% year to date in 2024.Supermicro stocks fell just before Nvidia (NVDA) announced a new AI chip after the market close, and CEO Jensen Huang gave a keynote speech at the company’s GTC conference.
SMCI stock fell steadily in late trading.
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Tesla crashed in 2024, but at least it got cheaper, right?
