The stock market evolves according to trends and fashionable expressions. There was in particular the GAFAM, then investors spoke of the “Magnificent 7” to designate the tech giants. But a wind of change is blowing on Wall Street: Broadcom joins the club of companies whose capitalization exceeds a trillion dollars, which allows fans of acronyms to have a field day since they ended up finding BATMMAAN . The perfect opportunity to discuss the world of the Dark Knight… or, more seriously, booming technological stocks.
With an acronym like that, it’s difficult to resist the temptation to talk about Batman, the masked hero recently played by Robert Pattinson. However, despite the rich news surrounding Gotham’s vigilante, I must remain faithful to my mission: deciphering stock market trends. So, let me put away my mask and costume, to get back to what investors really care about: artificial intelligence (AI).
The change in dynamics crystallized last Friday, after the publication of Broadcom’s results. The American firm confirmed investors’ appetite for AI and semiconductors, thus consolidating a new trend called BATMMAAN: Broadcom, Apple, Tesla, Microsoft, Meta, Amazon, Alphabet, Nvidia. An acronym that is starting to invade the press, to the point that we hope not to come close to overdosing on the batman.
Previously we had the Magnificent 7, a list of 7 technology stocks (a list similar to the one above without Broadcom) at the center of growth and investment. Now we say goodbye to the Magnificent 7, and welcome to BATMMAAN, a refreshing nickname for a group of companies at the center of stock market attention. With an impressive performance of +27% for Broadcom over the last few days, doubt about a possible sector rotation has dissipated: AI is far from having said its last word.
Nvidia’s recent decline (-3% over the same period) had raised questions about the sustainability of prospects in the semiconductor sector. But Broadcom reacted like a masked hero, reassuring investors about the future of tech.
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