The stock market closed mixed on Black Friday due to low volume. Trading was muted as markets reopened following the Thanksgiving holiday on Thursday.
Overall, S&P 500 was up 0.1% to 4,559, while NASDAQ declined 0.1% to 14,251.
Tweet of the Day
Over the past decade, Google's search revenues have surged ~5x (+17% CAGR) driven primarily by +13% CAGR in revenue per search result page, rather than a +4% CAGR in the number of search result pages displayed.
Increase in revenue per page is largely due to 1) higher ad load and… pic.twitter.com/mo2w2nQgKn
— Vivek Goyal (@Goyal_Vivek) November 20, 2023
Chart of the Day
Here is the one-year chart of Vertiv (VRT) as of November 1, 2023, when the stock was at $40.
Vertiv provides hardware, software, and services infrastructure for data centers, communication networks, and commercial & industrial applications. The company provides AC and DC power management products, thermal management products, integrated rack solutions, and management systems for maintaining these systems.
Vertiv is seeing robust market demand as the industry is gearing up to deploy data center infrastructure needed to meet the computer capacity that AI is demanding. Last quarter, the company delivered great results as profit grew 126% on 18% revenue growth. Management expects even better tailwinds from AI in 2024. In addition, many data centers are being designed to be multi-purpose. As the only pure-play data center infrastructure company, Vertiv is in a unique position to meet the varied needs of AI and data companies.
VRT is part of our Growth Portfolio.
