After finding strong support at $170, Nvidia (SYM: NVDA) continues to ramp higher.
Last trading at $190 in premarket, NVDA is up on news that it agreed to pay $20 billion to acquire assets from Groq, an AI startup. From here, given the strength of the AI boom, we’d like to see NVDA closer to $200 before the year is over.
Helping, just days ago, Barclays upgraded NVDA to a buy on stronger AI spending.
“We are OW as the company has long-term sustainable growth led by a large lead in GPUs for AI in DC, with further Edge opportunities (autos, robots, etc.) and a competitive moat around a large portion of the market,” said the firm, as quoted by CNBC.
Even better, Wedbush’s Dan Ives says NVDA could see $250 by the end of 2026. In fact, he argues that the market is still underestimating how critical NVDA is to AI.
“The reality is there's one chip in the world, fueling the AI revolution, and that's Nvidia. And I think as it plays out, numbers are significantly underestimated. I think 15% to 20% at a minimum going into 2026. You put that together, I think we're looking at a $250 stock in a base case to end 2026,” said Ives, as quoted by Yahoo Finance.
Nike (SYM: NKE)
Nike is still showing big signs of life after plummeting on weak Chinese sales and guidance.
“However, Apple’s Tim Cook sees value, having just bought $3 million worth of Nike stock at the bottom of trend. Cook, who has been on the NKE board since 2005, bought 50,000 shares at an average price of $58.97 a share. Robert Swan, another Nike director, bought about $500,000 of stock on Dec. 22 at an average price of $57.54,” we noted just last week.
Technically, after catching support at $56.99, Nike is just starting to pivot higher again. Last trading at $60, we’d like to see it refill its bearish gap at around $66 initially. Nike is also just starting to pivot from oversold reads on RSI, MACD, and Williams’ %R.
Albemarle (SYM: ALB)
Albemarle had an incredible year.
Since bottoming out at around $50 in April, the lithium giant exploded to $149. It could race even higher, especially with Ganfeng Lithium Chairman LI Liangbin noting that demand could rise 30% to 50% next year.
In addition, according to Sprott, the rebound in lithium “is being driven by robust demand growth and ongoing inventory reduction, alongside regulatory tightening, including the shutdown of a major Chinese lithium mine by Contemporary Amperex Technology Co. Ltd. (CATL) and new government measures aimed at preventing producers from selling lithium at unsustainably low prices. The increased recognition of lithium as a critical mineral, combined with Western concerns over China’s control of global supply chains, is bolstering the sector outside of China.”
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Written by Ian Cooper