Copper Stocks In Focus
JPMorgan highlighted three companies as regional picks among copper stocks. It called Teck Resources (TECK) its "top pick" in North America. It also selected Anglo American (NGLOY) and Sandfire, which is traded on the Australian Securities Exchange.
Other major copper stocks include Freeport-McMoRan (FCX) and Southern Copper (SCCO).
Investor's Business Daily added Freeport-McMoRan to its SwingTrader list on Thursday.
Nvidia Aims To Cut Power Usage
Nvidia's shift to copper from optics was a major topic of discussion earlier this week at the Optical Fiber Communication 2024 conference in San Diego, Evercore ISI analyst Amit Daryanani said in a client note Wednesday.
"Nvidia's recent announcement that they plan to use a significant amount of copper to network GPUs at distances of less than 1 meter was the subject of significant debate, but the power and cost benefits make it clear copper will be used as much as possible," Daryanani said.
Nvidia noted that using copper instead of optics saves 20 kilowatts of power per server rack.
"A key enabler of using more copper is liquid cooling, which allows more GPUs (graphics processing units) to be packed into a single rack," he said.
Of the major copper stocks listed here, Southern Copper has been the best performer lately. It has an IBD Relative Strength Rating of 89 out of 99.
On March 13, Southern Copper stock broke out of a flat base at a buy point of 88.40, according to IBD MarketSurge charts. On the stock market today, Southern Copper stock rose 2.1% to
