Scottish Mortgage shares: set to surge ahead of Anthropic, SpaceX IPOs
Scottish Mortgage Investment Trust share price has been in a strong bull run this year, and this rally may gain momentum in the coming months, helped by some of its top constituent companies. SMT stock jumped to 1,513p, its highest level since November 2021, and by 138% from its lowest point in 2023,
SMT share price to benefit from the SpaceX IPO
Scottish Mortgage stock has major catalysts in the coming months. The most important one is the upcoming SpaceX IPO, which will happen in June this year.
This will be an important event as analysts predict that the company will attract a market capitalization of over $1 trillion. Some analysts believe that SpaceX will ultimately reach a valuation of over $5 trillion over time.
Scottish Mortgage was one of the earliest investors in SpaceX. It invested about 151 million pounds in the company, an amount whose value has jumped to over $2 billion today. This value will continue growing once the company goes public.
Scottish Mortgage has a stake in Anthropic
The other bullish catalyst for the SMT share price is its investment in Anthropic, one of the fastest-growing companies in the world. Anthropic now accounts for 2.1% of its portfolio.
In a statement last week, Anthropic said that it raised $30 billion at a $900 billion valuation. This happened three months after it raised funds at a $385 billion valuation.
Anthropic has become one of the fastest-growing companies in the world, with the company launching new products each week. Mythos, its most advanced model, has also led to substantial concerns globally.
Therefore, it is easy to imagine a situation where Anthropic becomes the fastest company to hit a $1 trillion valuation mark. Such a move would raise the possibility that it will one day become the biggest company in the world.
Stripe’s valuation continues soaring
Anthropic and SpaceX are not the only companies boosting the Scottish Mortgage Investment Trust this year. Stripe, which the company invested in a few years ago, has become one of the biggest unicorns in the world.
Its valuation has jumped to $159 billion, much higher than its previous valuation of over $95 billion. This growth happened as the company’s transaction volume soared by 35% to over $1.9 trillion last year.
SMT share price will likely react positively when the company confirms its IPO date in the coming years.
NVIDIA, TSMC, Bytedance, Amazon, and ASML
Scottish Mortgage share price will also benefit from its top portfolio companies. For example, it has large stakes in companies like NVIDIA, Taiwan Semiconductor, ByteDance, Amazon, and ASML.
NVIDIA stock will likely continue doing well in the coming months, helped by its cheaper valuation and its strong revenue growth. Its upcoming results are expected to show that its revenue jumped to $80 billion in the first quarter.
Taiwan Semiconductor has become one of the most important companies in the world because it manufactures chips for the biggest semiconductor firms. It also makes chips for companies like Google, Amazon, and Microsoft.
ASML, the Dutch company, is also a monopoly in the manufacture of products that makes semiconductors.
Scottish Mortgage share price technical analysis
SMT stock chart | Source: TradingView
The weekly chart reveals that the SMT stock has jumped in the past few years, moving from a low of 604p in April 2023 to the current 1,440p. It is slowly forming a cup-and-handle pattern whose upper side is at 1,513p. A C&H is one of the most bullish continuation patterns in technical analysis.
The stock formed a golden cross pattern in April 2024 as the 50-day and 200-day moving averages crossed each other. Therefore, the stock will likely continue rising as bulls target the key resistance at 1,513p. A move above that level will point to more gains to 1,600p.
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