Image Source: Pixabay

Introduction

Peter Thiel, co-founder of data analytics group Palantir, Amazon founder Jeff Bezos, and Mark Zuckerberg, Meta’s chief executive have sold hundreds of millions of dollars of their companies’ shares this quarter. Could this be a signal that recent stock market exuberance in AI stocks is peaking? Not according to our analysis of the overall situation. Let me explain.

According to Ben Silverman. Verity LLC vice-president of research, which tracks insider trading disclosures, insider share sales are seen as a negative data point that investors should be aware of and a report from the University of Delaware maintains that insider sales by high-level execs of large amounts of stock means they have found a better place to deploy their assets than the businesses they are running.” Source

While that may, indeed, be the case, from their perspectives, the performance of the top 16 AI stocks in bubble mode - stocks that have appreciated by more than 20% YTD - were UP 3.8% last week, are UP 7.2% MTD and are still UP 50.7% YTD suggesting that the bubble in artificial intelligence stocks continues as outlined in this article.

The 16 AI Stocks Still In Bubble Mode

The 16 AI bubble stocks are ranked below in descending order of their performances last week as well as MTD and YTD:

1. Arista Networks (ANET): UP 10.3% last week; UP 10.4% MTD; UP 30.1% YTD
2. Broadcom (AVGO): UP 9.5% last week; UP 4.1% MTD; UP 21.3% YTD
3. Lam Research (LRCX): UP 7.5% last week; UP 4.2% MTD; UP 24.8% YTD
4. Nvidia Corporation (NVDA): UP 7.3% last week; UP 19.2% MTD; UP 90.4% YTD
5. Uber Technologies (UBER): UP 5.5% last week; UP 0.9% MTD; UP 30.3% YTD
6. Meta Platforms (META): UP 5.3% last week; UP 3.9% MTD; UP 44.0% YTD
7. Dell Technologies (DELL): UP 4.9% last week; UP 18.6% MTD; UP 46.7% YTD
8. Spotify Technology (SPOT): UP 3.9% last week; UP 3.3% MTD; UP 41.0% YTD
9. CrowdStrike Holdings (CRWD): UP 3.8% last week; UP 1.1% MTD; UP 28.3% YTD
10. Palantir Technologies (PLTR): UP 2.9% last week; DOWN 3.6% MTD; UP 40.8% YTD
11. Advantest Corporation (ATEYY): DOWN 0.2% last week; DOWN 7.6% MTD; UP 28.6% YTD
12. Advanced Micro Devices (AMD): DOWN 6.0% last week; DOWN 6.7% MTD; UP 21.9% YTD
13. D-Wave Quantum (QBTS): DOWN 6.7% last week; UP 4.9% MTD; UP 120.5% YTD
14. Super Micro Computer (SMCI): DOWN 9.0% last week; UP 12.3% MTD; UP 242.2% YTD
15.  Rigetti Computing (RGTI): DOWN 17.3% last week; DOWN 13.3% MTD; UP 239.6% YTD
16. SoundHoundAI (SOUN): DOWN 27.7% last week; DOWN 13.3% MTD; UP 293.9% YTD

Summary

On average, the above 16 AI stocks were UP 3.8% last week, are UP 7.2% MTD and are UP 50.7% YTD. In addition, the 91 AI stocks in the AIQ Global X Artificial Intelligence & Technology ETF (AIQ) were UP 2.6%, on average, last week, are UP 2.1% MTD and are UP 9.1% YTD.

Conclusion

As we see it from our above analyses the bubble in AI stocks is still inflated.

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