Two Hot AI Stocks Lead S&P 500 Monday

Super Micro Computer (SMCI), Micron Technology (MU), Constellation Energy (CEG), Dexcom (DXCM) and Moderna (MRNA) were the top S&P 500 index gainers on the stock market today.



decisions on interest rates impact both the economy and the stock market. IBD News Editor Ed Carson shares how reactions by each can differ and what investors need to know.” vid-name=”Fed Interest Rate Decisions: Market Influence And Investor Psychology Impact Of Cuts And Hikes” vid-cat=”Industry Insights” vid-date=”03/20/2024″ vid-date-tmsp=”1710938202″ vid-image=”https://www.investors.com/wp-content/uploads/2024/03/cReAVOpP-640×360.jpg” vid-authors=”MEREDITH HEYMAN”>
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Super Micro stock leapt 7.2% to 1,042.79, vaulting back above the 21-day line and the 1,000. The AI server maker uses chips from Nvidia (NVDA) and others.

SMCI stock is easily top performer in the S&P 500, surging 267.3% in 2024. (Nvidia stock, in second place, is up 92%.) The Nvidia partner joined the S&P 500 before the open on March 18, tumbling 9% in its first week.

Super Micro is on the IBD Big Cap 20.

Micron stock umped 6.2% to 117.04, continuing its powerful move last week following a surprise profit and bullish guidance thanks to AI tailwinds. The memory-chip giant is now up 37.25% in 2024. That’s No. 6 in the S&P 500 this year.

Dexcom stock gained 5.2% to 140.10, decisively clearing a mini-consolidation within the buy zone of a flat base. While extended from the flat base’s 132.03 buy point, investors could treat 137.93 as an alternate or add-on entry. DXCM stock is on IBD Leaderboard.

Constellation Energy stock popped 5.1% to 187.26, hitting a record high, clearing a very short consolidation. CEG stock skyrocketed on earnings in late February. Constellation Energy is big electric utility, but it’s a tangential AI play as booming data centers have a voracious demand for energy. Constellation Energy stock is up 60.2% this year, behind only Super Micro and Nvidia stock within the S&P 500.Moderna stock rose 4.7% to 11.38, moving toward a 114.25 buy point from a cup-with-handle base. Shares were actionable Monday from breaking the downtrend of the handle.

Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson.

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