The second half of 2024 has turned out to be a solid one for Zoom Communications (NASDAQ: ZM), as shares of the online communications platform provider have shot up roughly 44% since the beginning of July (as of this writing).

Nvidia stock has been on a disappointing run since its earnings last week but the good vibes looked set to return in a holiday-shortened session Friday.

It's been an excellent year for stock market investors. The S&P 500 index has delivered an excellent 26% return thus far in 2024, driven by resilient macroeconomic conditions, record corporate earnings, and growing optimism about artificial intelligence's (AI) transformative potential across the economy.

Analysts have been busy updating their discounted cash flow models and price targets for Nvidia (NVDA) after the most important AI company in the world failed to give the sort of blow-out revenue guidance Wall Street has come to expect.