Wall Street Bounces Back in November

Wall Street has kicked off November on a positive note, leaving behind the spooks of October with a strong performance yesterday. The S&P 500, Dow Jones, and NASDAQ all saw gains, with the S&P 500 up by 0.4%, the Dow rising by 0.7%, and the NASDAQ jumping by 0.8%.

The Battle of the Magnificent Seven

Investors have been closely watching the earnings results of the "Magnificent Seven" companies this season. Meta Platforms, Inc. (META) and Microsoft Corporation (MSFT) raised concerns with their aggressive increase in AI spending. Now the question on everyone’s mind is: who will emerge as the true king of "The Magnificent Seven"?

• NVIDIA Corporation (NVDA) is currently a red-hot company with a market cap of $3.3 trillion, making it the second-largest company in the S&P 500 after Apple Inc. (AAPL).
• Stay tuned for NVIDIA’s earnings announcement on November 21 to see how it stacks up against the competition.
  

  Apple and Amazon’s Earnings Performance
  

  This week, Apple and Amazon released their earnings reports, shedding light on their performance in the AI race and overall market trends.

  Amazon: Cloud Dominance
  

• Amazon reported impressive results, beating analyst expectations with $1.43 earnings per share on $158.9 billion in revenue.
• Amazon Web Services (AWS) continues to drive sales and profit for the company, with $27.45 billion in revenue for the quarter.
• New AI-powered features like Rufus and Project Amelia showcase Amazon’s commitment to innovation in the AI space.
• CEO Andy Jassy’s announcement of increased spending on AI infrastructure highlights Amazon’s focus on future growth.
  

  Apple: Resilience Amid Challenges
  

• Despite a hefty tax payment to the EU, Apple exceeded Wall Street’s expectations with $1.64 earnings per share on $94.9 billion in revenue.
• Strong growth in iPhone sales and the introduction of new AI features signal Apple’s resilience in the market.
• Tim Cook’s strategic pivot towards India reflects Apple’s efforts to navigate challenges in certain regions.
• Apple’s revenue growth projection for the next quarter disappointed some investors, leading to a slight decline in stock value.
  

  Investment Insights: Amazon vs. Apple
  

• Investors reacted positively to Amazon’s earnings, while Apple faced mixed reviews due to its revenue growth projection.
• Apple’s AI monetization strategy appears stronger than Microsoft’s, indicating future potential.
• Both Amazon and Apple receive a "Hold" rating from the Stock Grader, suggesting cautious investment decisions.
• Market dynamics and AI innovation will continue to shape the performance of these tech giants in the long run.
  

  Prepare for Market Volatility
  

  As the US presidential election approaches, market volatility is on the horizon. Learn how to navigate potential chaos and profit from market shifts with expert insights.

• Attend the "The Day After Summit" for essential tips on adapting to post-election market conditions.
• Discover opportunities for significant profits during uncertain times.
• Stay informed and prepared for market fluctuations to maximize your investment strategy.

  Don’t miss out on valuable investment insights and opportunities. Stay ahead of the curve with expert advice and strategic planning.

  Sincerely,
  Louis Navellier
  Editor, Market360

  Disclosure: The Editor holds positions in Microsoft Corporation (MSFT) and NVIDIA Corporation (NVDA) at the time of this communication.