Nasdaq 100 Falls as Hot PCE Inflation Stirs Rate-Hike Bets: Stock Market Today

Big Tech Will Spend $745 Billion on AI This Year. These Stocks Get Paid on Every Dollar.

Amazon, Alphabet, Microsoft, and Meta are projected to spend $745 billion on capital expenditures this year, primarily for data center infrastructure. Hardware suppliers Nvidia, Broadcom, and Arista Networks are positioned to benefit from this spending through GPU sales, custom AI chips, and networking equipment. Nvidia trades at an attractive 14x forward P/E, Broadcom at 18x with strong AI revenue growth projections, while Arista commands a premium 38x valuation despite deployment risks.

Anglogold Ashanti shares are trading higher after Goldman Sachs initiated coverage on the stock with a Buy rating and announced a $104 price target.

This Eloxx Pharmaceuticals Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Thursday

Analysts initiated coverage: Neutral on RDW, Overweight on ELOX, Buys on SGHT and AU, and Market Perform on FFIN.

Goldman Sachs Initiates Coverage On Anglogold Ashanti with Buy Rating, Announces Price Target of $104

Goldman Sachs analyst Matt Greene initiates coverage on Anglogold Ashanti (NYSE:AU) with a Buy rating and announces Price Target of $104.

Shares of consumer discretionary retail companies are trading higher. Retreating bond yields and investors trimming exposure to AI-exposed tech names are helping drive the rebound following marked declines for the sector in August and September.

Truist Securities Maintains Buy on Boston Scientific, Lowers Price Target to $51

Truist Securities analyst Richard Newitter maintains Boston Scientific (NYSE:BSX) with a Buy and lowers the price target from $57 to $51.