AroniSmartIntelligence™ in Action: Stock Performance and Momentum Analysis of stocks in Tech, Oil, EV, Financials, Pharmaceuticals, Semiconductors industries in Q3 2023
Stocks across industries have been experiencing an upward momentum since the beginning of Q3 2023. Some stocks have completely recouped the losses and reached their high levels observed in 2022. Technology, Beverages, and Semi-conductors stocks including Apple Inc. (NYSE: AAPL), Meta (NYSE: META), Nvidia (NYSE: NVDA), Advanced Micro Devices(AMD), Tesla(NYSE :TSLA), The Home Depot (NYSE: HD), Lowes (NYSE: LOW), Pepsi Cola (NYSE: PEP) and Exxon (NYSE: XOM) have been delivering strong returns in Q3 2023, similar to those in the year 2021 and Q1 2022. The oil industry has remained resilient during the period, with Crude Oil (CL=F) and Exxon Mobil Corporation (XOM) around the levels reached in late 2022. Banking and Pharmaceuticals stocks have remained almost flat or experienced some headwinds. The stock market indices have shown similar trends and patterns. The stock market appears to face off the previous increasing market volatility, inflation, world events, and other dynamics since late Q2 2022. AroniSmart™ team, leveraging the Machine Learning Time Series capabilities, including Support Vector Machine, and Dominance Analysis of AroniSmartIntelligence™ and AroniSmartInvest™, has looked at the trends of the stock price of AAPL vs the stock prices of 20 selected companies and market indices between Q4 2021 and Q3 2023 and came up with insights and projections on the dynamics. The insights are presented below (for disclaimer and terms, check AroniSoft website).