AI trade to get some positive newsflow over the next 7-10 days, says Bank of America
The stars may be aligning for a move higher in artificial intelligence-related stocks. Bank of America highlighted four events over the next seven-to-10 days that could serve as catalysts for the group. These are: Nvidia 's GTC confercence in Paris (Tuesday-Thursday) AMD 's "Advancing AI 2025" event on Thursday Marvell Technology 's June 17 webinar "on future of custom silicon" Bank of America's "Techtalks expert call on the evolving AI Networking landscape" Analyst Vivek Arya expects Nvidia to discuss "commitments for multi-year AI factory projects" at its Paris tradeshow. "Recall earlier this year the European Union (EU) launched its Invest AI initiative to mobilize €200bn in AI investments over the next decade," he said. At AMD's event, he sees the company laying out specifics for its AI roadmap, while Marvell could raise expectations for its total addressable market during its webinar next week. "We remain bullish on demand trends at data center/AI levered NVDA, AVGO , AMD and MRVL and associated optical, connectivity, foundry, EDA/IP and memory peers," he said. Arya has a buy rating on all four stocks — which have seen blistering gains this quarter. Nvidia and Broadcom are up 32% and 46%, respectively, since the end of March. AMD has climbed 18%, while Marvell is ahead 12%. Those gains have so far helped lift the S & P 500 by 7% in the second quarter, putting it less than 2.5% below its record high set in February. If these events boost the AI trade further, the broad market index could regain its all-time high of 6,147.43. Elsewhere Tuesday morning on Wall Street, Redburn Atlantic lowered its rating on McDonald's to sell from buy, marking the third downgrade for the stock in less than a week. "Weight-loss drugs are reshaping restaurant demand – not only by suppressing appetite, but also through behavioural spillovers. Lower-income users cut fast-food spending by 14%, double that of higher-income users, with the sharpest declines at lunch and dinner," analyst Chris Luyckx wrote.
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