NVIDIA Corporation (NVDA) Stock Forecasts

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The second quarter of 2024 was rewarding for equity investors, as the S&P 500 rose another 4% and is up nearly 15% so far this year. Growth was the segment leader in the second quarter, as the S&P 500 Growth Index rose about 8% over the period, while the S&P 500 Value Index fell slightly. Leading sectors included information technology and communications services, while sectors in the red over the past three months included real estate, materials, industrials, financials, and energy. The average stock in the Argus Universe of Coverage fell 2.4% during the quarter, while the median stock fell 3.0%. The average BUY-rated stock fell 0.7%, while the average HOLD-rated stock rose 6.7%. Will the rally broaden in 2H24, or will investors continue to focus on the technology and communications groups? Will small caps pick up the pace (the Russell 2000 rose 1.8% in 1H24), or is the current bull market rally due for a pause, with some profit taking in play? Given falling interest rates, we expect growth stocks to continue to drive the bull market, while the risk of recession remains a