Market Analysis by covering: NVIDIA Corporation, NASDAQ Composite, Palantir Technologies Inc. Read 's Market Analysis on Investing.com
Gold prices jump to near 3-week high amid US shutdown progressFor a limited time, get an InvestingPro subscription at the lowest price of the year with our Early Bird Black Friday discount The renewed optimism came from progress in Washington toward ending the longest government shutdown in US history.
A compromise to restore federal funding cleared its first hurdle in the Senate on Sunday evening, though final approval from Congress is still pending. The rebound in technology stocks also came from bargain hunting, as many investors saw last week’s sharp decline as a buying opportunity. The Nasdaq fell just over 3% last week, while Nvidia dropped 7% andGiven Monday’s strong rebound, buying major tech stocks during market dips still appears to be a worthwhile strategy. Nvidia and Palantir look like promising picks in this regard, though investors should tread carefully. Both stocks remain highly valued based on InvestingPro’s Fair Value estimates, which suggest a potential downside risk of about 9% for Nvidia and more than 50% for Palantir.Using Investing.com’s screener, we looked for other major US technology stocks that have dropped sharply in recent weeks but still appear undervalued compared to their estimated fair value. The goal was to identify companies that analysts believe have solid rebound potential based on both price weakness and strong fundamentals.Although the basic functions of the Investing.com screener are available free of charge, in this search we used metrics reserved for InvestingPro, Pro+ plan subscribers. Not a member yet? Take advantage of the Early Bird Black Friday discount and subscribe to InvestingPro NOW! These stocks, which have dropped between 5.9% and 20.5% over the past month, now appear undervalued by 12% to 62% based on InvestingPro Fair Value. Analysts, meanwhile, see upside potential ranging from 27.9% to 42.7%.These large US technology stocks, which have struggled recently, may now be well placed to outperform as market sentiment improves. Hopes of a government reopening, expectations of a Fed rate cut, strong third-quarter results, and typical year-end optimism all suggest potential for solid gains in the weeks ahead — both for the stocks highlighted here and for the broader tech sector. For those with different strategies, the screener also provides over 20 preconfigured searches tailored to various investment styles and goals. If you’re not yet an InvestingPro subscriber and want to explore the opportunities mentioned in this article along with access to InvestingPro tools, you can now take advantage of an exclusive 55% early bird Black Friday discount by clicking the button below.Finally, please note that the features mentioned in this article are far from being the only InvestingPro tools useful for market success. In fact, InvestingPro offers a wide range of tools that enable investors to always know how to react in the stock market, regardless of market conditions. These include:10 years of historical financial data for thousands of global stocks.And many other tools that help tens of thousands of investors outperform the market every day!This article is written for informational purposes only. It is not intended to encourage the purchase of assets in any way, nor does it constitute a solicitation, offer, recommendation, or suggestion to invest. I would like to remind you that all assets are evaluated from multiple perspectives and are highly risky, so any investment decision and the associated risk belong to the investor. We also do not provide any investment advisory services.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. 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