Seeking Alpha Author Michael Kramer joins Cheddar to give his top three predictions for 2018 market trends. The first one: Tesla will hit a $100 billion market cap. He explains why he's comparing the auto company to Amazon in his analysis and prediction.
His second prediction is that the U.S. GDP will grow by 4%, which is one percent higher than what President Trump believes it will grow. Kramer says the tax reform bill will have a bigger impact on the economy than people think.
And for this third prediction, Kramer believes the S&P 500 will cross the 3,000 market. That would be an increase of around 20% from current levels, but by looking at trends over the past decade, Kramer firmly believes this is possible by the end of 2018.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
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While Nvidia's meteoric rise led it to briefly dethrone Microsoft as the world's biggest public company, there's a lot more going on in this market than A.I.
The Russian company said in a statement that the Commerce Department's decision would not affect its ability to sell its cybersecurity products in the U.S.
