NVIDIA (NASDAQ: NVDA) isn’t the most upgraded stock at the end of the Q3 earnings reporting season, ending a trend that has been in place for nearly two years. While potentially bad news for the market, the reason why should give investors hope that the rally in equities is broadening and the S&P 500 will sustain its uptrend. NVIDIA, now ranked 12th on MarketBeat’s list of Most Upgraded Stocks, has been supplanted by consumer names and companies well-positioned for the second wave of AI. The second wave of AI is the implementation of AI models and applications, a segment of the industry expected to grow faster and be larger than infrastructure, which was the first wave.
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