Bubble In AI Stocks Began To Re-Inflate This Past Week

Last week I concluded that the 21 large cap ($2B+ in market capitalization) artificial intelligence (AI) stocks I follow (see here) were NOT in a bubble despite having jumped 26.3%, on average, in May. This past week, however, the bubble began to re-inflate. Below are the details. 

Of those 21 AI stocks, all but 3 advanced further last week, ranging from +0.8% to +20.3%. Nine of those advanced by 6% or more; their performances are as follows for the week, in descending order, and since the bubble began inflating at the end of April (i.e. 7 weeks ago).

  1. C3.AI (AI): UP 20.3% last week; UP 149.7% in last 7 weeks
  2. Palo Alto Networks (PANW): UP 11.0% last week; UP 35.1% in last 7 weeks
  3. SentinelOne (S): UP 10.6% last week; UP 0.1% in last 7 weeks
  4. NVIDIA (NVDA): UP 10.1% last week; UP 53.9% in last 7 weeks
  5. Advantest Corporation (ATEYY): UP 8.9% last week; UP 79.9% in last 7 weeks
  6. Palantir Technologies (PLTR): UP 8.5% last week; UP 110.3% in last 7 weeks
  7. Broadcom (AVGO): UP 7.9% last week; UP 38.6% in last 7 weeks
  8. Tesla (TSLA): UP 6.6% last week; UP 58.6% in last 7 weeks
  9. ServiceNow (NOW): UP 6.0% last week; UP 23.1% in last 7 weeks

On average, the above 9 stocks were up 8.6% last week and are up 41.8% since the end of April.

Nine of the remaining 12 AI stocks on our list - Lam Research (LRCX), Synopsys (SNPS), ASML Holding (ASML), Netflix (NFLX), Taiwan Semiconductor (TSM), Marvell Technology (MRVL) Bentley Systems (BSY) and Applied Materials (AMAT) -  were only up 1.1%, on average, last week but remain up 19.8%, on average, since the bubble began to inflate 7 weeks ago.  The remaining 3 AI stocks, Advanced Micro Devices (AMD), Super Micro Computer (SMCI) and Integral Ad Science (IAS), while down 9.1% last week, on average, are still up 75.0%, on average, in the last 7 weeks.


In total, the 21 AI stocks we watch advanced 3.6%, on average, last week and are up 31.9%, on average, in the last 7 weeks.

The Global X Artificial Intelligence and Technology ETF (AIQ), which invests in 93 stocks of companies operating across development and utilization of artificial intelligence technology in their products and services, advanced 4.7% last week and is now up 18.7% in the last 7 weeks.

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Disclosure: None

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Adam Reynolds 5 months ago Member's comment

AI is definitely the future.