Let's Get Rich: What was hot this week

Top 5 Stocks This Week 

1 min read

The technology sector's landscape is being dramatically reshaped in 2024, with five key players leading the AI revolution in unexpected ways.

While media attention centers on ChatGPT and generative AI applications, a more significant transformation is underway.

Apple, Tesla, Amazon, Microsoft, and Nvidia are strategically positioning themselves for long-term AI dominance through foundational changes that many traditional market analyses have yet to fully capture.

Here's our analysis of the critical developments investors should watch:

Apple's Record Momentum

While Apple's 21st record close this year has grabbed headlines, the real story lies beneath the surface.

The company's seemingly modest ChatGPT integration masks a more ambitious AI strategy: transforming its $48 billion services business into an AI powerhouse.

Unlike competitors racing to release standalone AI products, Apple is quietly weaving AI capabilities into its ecosystem, potentially creating a moat that even Google and Microsoft can't cross.

The stock's 12% rally since November isn't just about market momentum—it reflects growing recognition that Apple's 2 billion active devices could become the world's largest AI distribution network overnight.

This explains why 26 of 29 analysts remain bullish despite concerns about iPhone sales plateauing.

Tesla's Cybercab Announcement

Elon Musk's electric vehicle giant has made waves in the market with its recent Cybercab announcement. The self-driving taxi, set to launch its full service in 2025, has propelled Tesla's stock to new heights, breaking the $400 barrier for the first time since January 2022

This surge comes alongside revelations about significant production cost reductions for the Cybercab. The stock's momentum has caught the attention of analysts, with Deutsche Bank raising its price target to $370 and recommending a buy.

Tesla's ambitious plans for autonomous transportation align with expectations of eased restrictions under the incoming U.S. administration, potentially paving the way for long-term growth in the self-driving vehicle market.

Amazon's AI Breakthroughs

Bucking the broader market's downturn, Amazon's stock hit another record high, climbing 1.1% to $220.55 on Thursday.

This surge was fueled by groundbreaking AI initiatives, including the "Rainier" supercomputer project and the launch of the "Ultraserver" system.

The e-commerce giant's shares have outpaced the S&P 500's return, boasting a year-to-date gain of about 45%

With the measuring principle projecting an upside target of $250, Amazon's AI-driven momentum appears poised to continue, potentially offering investors both short-term gains and long-term growth opportunities in the evolving AI landscape.

Microsoft and Nvidia's AI Growth

Reaching a 4.5-month high of $445, Microsoft's stock has been buoyed by reports of potential access to pivotal AI technologies from OpenAI.

With an average 12-month price target of $497, the tech giant's AI advancements position it for future growth. Meanwhile, Nvidia continues to dominate the GPU market, crucial for AI and machine learning applications, despite recent volatility.

Both companies are key players in the ongoing AI boom, with Microsoft's stock poised to potentially align with market indices that have reached all-time highs, and Nvidia's long-term prospects remaining strong due to growing demand for AI technologies across various sectors.

Top Cryptocurrencies to Watch 

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As the cryptocurrency market continues to evolve in 2024, investors are closely watching a diverse range of digital assets, from established giants like Bitcoin and Ethereum to emerging players such as Solana, Sui, and JetBolt, each offering unique features and potential for growth.

Bitcoin's 2024 Milestones

Reaching a record-breaking all-time high of $103,992.99 on December 5, 2024, Bitcoin solidified its dominance in the cryptocurrency market. Its increasing adoption by institutional investors and its unexpected role in U.S. presidential debates have further elevated its prominence this year. These milestones underscore Bitcoin's continued relevance as a leading digital asset, even amidst a rapidly diversifying market landscape

Ethereum's Growth and ETFs

Ethereum's transition to a Proof-of-Stake mechanism and the approval of spot Ether ETFs in 2024 have significantly boosted its market performance.

With a year-over-year return of +81.68%, Ethereum continues to dominate the decentralized application and smart contract space, solidifying its position as a critical player in blockchain innovation

Solana and Sui Performance

Boasting a remarkable +661.98% year-over-year return, Solana has cemented its reputation for high-speed, low-cost transactions, positioning itself as a formidable competitor to Ethereum.

Meanwhile, Sui, developed by former Meta engineers, has surged with a 306.4% increase in 2024, demonstrating its potential as a major player in the blockchain space.

Emerging Altcoin JetBolt

JetBolt has captured attention in 2024 with its innovative zero-gas technology, enabling seamless transactions without fees.

Its user-friendly staking platform has further fueled investor interest, leading to the sale of over 66 million tokens during its ongoing presale.

Positioned as a promising altcoin, JetBolt is leveraging these features to carve out a niche in the competitive cryptocurrency market.

Top 5 Meme Coins

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As the crypto market braces for potential bullish trends in December 2024, meme coins are capturing investors' attention with their unique blend of humor and investment potential.

From established favorites like Dogecoin and Shiba Inu to newcomers like BTFD Coin, these digital assets are offering intriguing opportunities for those seeking both entertainment and financial growth in the cryptocurrency space.

BTFD Coin Overview

BTFD Coin (BTFD) is emerging as a standout meme coin in December 2024, redefining the landscape with its innovative approach.

This newcomer offers a unique blend of entertainment and financial incentives through its Play-to-Earn (P2E) gaming platform and an impressive 90% APY staking program.

Currently in its presale phase, BTFD has already raised over $3.6 million, signaling strong investor interest.

• Key features: P2E game, high staking rewards, and community-driven development

• Short-term outlook: Expected to see significant price increases post-presale

• Long-term potential: Analysts predict a listing price of $0.0006, with substantial growth prospects

• Unique selling point: Combines meme coin appeal with practical utility and high-yield opportunities

Dogecoin and Shiba Inu

Dogecoin and Shiba Inu continue to hold their positions as leading meme coins in December 2024, each with its unique appeal.

Dogecoin, the original meme cryptocurrency, maintains its popularity through widespread adoption and celebrity endorsements, with analysts projecting a potential value between $0.25 and $1.44 by 2025.

Shiba Inu, evolving beyond its meme origins, has developed a multifunctional ecosystem, including the launch of Shibarium, its Layer-2 solution.

• Dogecoin drivers: Social media presence, growing merchant acceptance

• Shiba Inu catalysts: Increased network activity, community initiatives

• Short-term outlook: Both coins show bullish indicators, with Shiba Inu poised for a potential price rally

• Long-term potential: Shiba Inu price predictions range from $0.000040 to $0.000060 by 2025

• Challenges: Dogecoin faces inflationary supply issues, while Shiba Inu contends with high competition in the expanding ecosystem space.

Pepe Coin Highlights

Inspired by the iconic Pepe the Frog meme, Pepe Coin has emerged as a deflationary token on the Ethereum blockchain, capturing the attention of meme coin enthusiasts.

Its recent performance has been driven by overall crypto market trends and significant whale accumulation, contributing to a bullish short-term outlook.

Analysts predict substantial growth for Pepe Coin by 2025 and beyond, although investors should be aware of its high volatility risks.

• No official utility, relying primarily on community enthusiasm and meme culture

• Deflationary tokenomics aim to increase scarcity over time

• Faces regulatory uncertainties common to meme coins

• Potential for rapid price movements due to its meme-driven nature

Floki Inu Ecosystem

Inspired by Elon Musk's Shiba Inu dog, Floki Inu has evolved from a simple meme coin into a multifaceted ecosystem.

The project's expansion into DeFi and NFTs, coupled with its deflationary tokenomics, has fueled investor interest and bullish short-term expectations.

While long-term projections suggest potential growth, with estimates reaching around $0.0033 by 2030, Floki Inu faces regulatory risks common to the meme coin sector.

• Community-driven initiatives and partnerships boost engagement.

• Valhalla, Floki's flagship metaverse game, adds utility to the ecosystem.

• FlokiFi, the project's DeFi arm, aims to provide additional financial services.

• Balancing meme appeal with real-world applications remains a key challenge.

Thought-Provoking Tweets and Insights

1. Keith Gill's Cryptic GameStop Post

   Keith Gill, known as "Roaring Kitty," posted a cryptic image resembling a Time magazine cover from 2006 with a computer screen.

   This led to a 6% surge in GameStop's stock, reminiscent of the 2021 meme stock frenzy.

   Reuters

   Thought: Gill's influence on retail investors highlights the ongoing impact of social media on stock markets, raising questions about market dynamics and investor behavior.

2. David Sacks Appointed as AI and Crypto Czar

   President-elect Donald Trump announced venture capitalist David Sacks as the new White House chief for AI and cryptocurrency policies. The Wall Street Journal

   Thought: This appointment signals a significant shift in U.S. tech policy, potentially fostering innovation and clearer regulations in AI and crypto sectors.

3. Teenager's $50,000 Memecoin Maneuver

   A California teenager created and promoted his own cryptocurrency, Gen Z Quant, making over $50,000 before cashing out, causing the coin's value to plummet.

   Wired

   Thought: This incident underscores the ethical and regulatory challenges in the unregulated memecoin market, highlighting the need for investor protection.

4. Bitcoin Surpasses $100,000

   Bitcoin's price exceeded $100,000 for the first time, driven by optimism over easing regulatory headwinds and significant institutional adoption. Financial Times

   Thought: This milestone reflects growing acceptance of cryptocurrencies in mainstream finance, prompting discussions on their future role in the global economy.

5. Mainstream Adoption of Memecoins

   The rise of memecoins like PNUT indicates a shift in financial markets influenced by viral internet culture and digital assets.

   Financial Times

   Thought: This trend highlights how digital communities and liquidity can drive asset prices, echoing historical financial manias and raising concerns about market stability.

1  Risk Disclaimer: Market analysis provided is for informational purposes only. Cryptocurrency and meme asset investments carry significant risks. Past performance does not indicate future returns.