Enthusiasm for the chip maker, whose products are seen as essential to powering AI technology, kept building through the second quarter. Nvidia reported sales and profits in May that blew past Wall Street expectations for the fifth consecutive quarter. The stock rose 37% in the second quarter and is up 149% for the year. Six of the 11 sectors in the index declined in the second quarter, including financials, energy and industrials. “Even if you do a great job in the rest of the portfolio, if you’re not overweight in the same place, you’re just toast."

Source: Mint July 01, 2024 17:14 UTC