{"id":69816,"date":"2025-01-09T00:33:06","date_gmt":"2025-01-08T23:33:06","guid":{"rendered":"https:\/\/www.infokuryr.cz\/n\/?p=69816"},"modified":"2025-01-08T16:15:53","modified_gmt":"2025-01-08T15:15:53","slug":"americke-trhy-maji-za-sebou-silny-rok-kteremu-dominovala-umela-inteligence","status":"publish","type":"post","link":"https:\/\/www.infokuryr.cz\/n\/2025\/01\/09\/americke-trhy-maji-za-sebou-silny-rok-kteremu-dominovala-umela-inteligence\/","title":{"rendered":"Americk\u00e9 trhy maj\u00ed za sebou siln\u00fd rok, kter\u00e9mu dominovala um\u011bl\u00e1 inteligence"},"content":{"rendered":"
<\/div>\n

Um\u011bl\u00e1 inteligence (AI) v uplynul\u00e9m roce ovl\u00e1dla akciov\u00e9 trhy a p\u0159inesla technologick\u00fdm gigant\u016fm neb\u00fdval\u00fd r\u016fst. Stala se ned\u00edlnou sou\u010d\u00e1st\u00ed produkt\u016f velk\u00fdch spole\u010dnost\u00ed, ale tak\u00e9 zdrojem obav z nadm\u011brn\u00fdch investic. V roce 2025 se nav\u00edc o\u010dek\u00e1vaj\u00ed dal\u0161\u00ed probl\u00e9my, zejm\u00e9na v d\u016fsledku politiky nov\u00e9 Trumpovy administrativy, kter\u00e1 by mohla m\u00edt z\u00e1sadn\u00ed dopad na ekonomiku USA.<\/p>\n

Um\u011bl\u00e1 inteligence dominovala v roce 2024<\/strong><\/span><\/p>\n

Rok 2024 byl p\u0159edev\u0161\u00edm ve znamen\u00ed um\u011bl\u00e9 inteligence, do kter\u00e9 velk\u00e9 korporace investovaly miliardy dolar\u016f, p\u0159i\u010dem\u017e jej\u00ed vliv se siln\u011b odrazil na cen\u00e1ch akci\u00ed v\u00fdrobc\u016f polovodi\u010d\u016f a firem zam\u011b\u0159en\u00fdch na n\u00e1vrh \u010dip\u016f. Spole\u010dnost NVIDIA, kter\u00e1 v t\u00e9to oblasti t\u00e9m\u011b\u0159 nem\u00e1 konkurenci, za\u017eila bezprecedentn\u00ed r\u016fst. V\u00fdrazn\u00fd \u00fasp\u011bch zaznamenala tak\u00e9 spole\u010dnost TSMC, p\u0159edn\u00ed v\u00fdrobce \u010dip\u016f, jej\u00ed\u017e cena akci\u00ed se b\u011bhem roku zdvojn\u00e1sobila. V\u00fdroba t\u011bchto sou\u010d\u00e1stek nad\u00e1le z\u016fst\u00e1v\u00e1 vysoce koncentrovan\u00e1 na Tchaj-wanu a omezen\u00e1 pouze na n\u011bkolik firem. Za pozornost stoj\u00ed rovn\u011b\u017e britsk\u00e1 spole\u010dnost ARM Holdings, kter\u00e1 navrhuje architektury \u010dip\u016f p\u0159ev\u00e1\u017en\u011b pro mobiln\u00ed za\u0159\u00edzen\u00ed. V lo\u0148sk\u00e9m roce dos\u00e1hla siln\u00e9ho r\u016fstu zisku a s podporou mate\u0159sk\u00e9 spole\u010dnosti SoftBank roz\u0161i\u0159uje sv\u00e9 aktivity v oblasti um\u011bl\u00e9 inteligence.<\/p>\n

Na opa\u010dn\u00e9m konci dodavatelsk\u00e9ho \u0159et\u011bzce se nach\u00e1zej\u00ed spole\u010dnosti jako Microsoft, Apple a Amazon.com. Tyto firmy transformuj\u00ed technologii AI do produkt\u016f pro koncov\u00e9 spot\u0159ebitele, a\u0165 u\u017e jde o software nebo hardware, a v um\u011bl\u00e9 inteligenci vid\u00ed obrovsk\u00fd potenci\u00e1l. Kl\u00ed\u010dov\u00fdmi segmenty jejich finan\u010dn\u00edch zpr\u00e1v jsou produkty a slu\u017eby vyu\u017e\u00edvaj\u00edc\u00ed AI, p\u0159i\u010dem\u017e r\u016fst tr\u017eeb \u010dasto slou\u017e\u00ed jako indik\u00e1tor \u0161ir\u0161\u00ed popt\u00e1vky na trhu. Tr\u017en\u00ed cykly v\u0161ak mohou b\u011bhem roku zp\u016fsobovat v\u00fdkyvy. Investo\u0159i, kte\u0159\u00ed jsou zvykl\u00ed na rychl\u00fd r\u016fst p\u0159\u00edjm\u016f z AI a neust\u00e1l\u00e9 p\u0159ekon\u00e1v\u00e1n\u00ed o\u010dek\u00e1v\u00e1n\u00ed, se za\u010dali ob\u00e1vat nadm\u011brn\u00fdch investic do t\u00e9to technologie bez jasn\u00e9 kr\u00e1tkodob\u00e9 n\u00e1vratnosti. Tyto obavy pravd\u011bpodobn\u011b p\u0159etrvaj\u00ed i v nov\u00e9m roce.<\/p>\n

V\u00fdkonnost akci\u00ed spole\u010dnosti Nvidia za posledn\u00edch 5 let* (zdroj: Investing.com)<\/em><\/p>\n

\"\"<\/em><\/p>\n

V\u00fdkonnost akci\u00ed TSMC za posledn\u00edch 5 let* <\/em>(zdroj: Investing.com)<\/em><\/p>\n

\"\"<\/p>\n

Fed se zapojil do podpory ekonomiky<\/strong><\/span><\/p>\n

Ve st\u0159edu 18. prosince 2024 americk\u00fd Feder\u00e1ln\u00ed rezervn\u00ed syst\u00e9m podle o\u010dek\u00e1v\u00e1n\u00ed sn\u00ed\u017eil hlavn\u00ed \u00farokov\u00e9 sazby o 0,25 %, \u010d\u00edm\u017e je posunul do rozmez\u00ed 4,25 a\u017e 4,5 %. Tento krok odr\u00e1\u017e\u00ed jeho snahu podpo\u0159it hospod\u00e1\u0159sk\u00fd r\u016fst a z\u00e1rove\u0148 pokra\u010dovat v boji proti p\u0159etrv\u00e1vaj\u00edc\u00ed, i kdy\u017e zm\u00edr\u0148uj\u00edc\u00ed se inflaci. Fed zd\u016fraznil, \u017ee inflace se postupn\u011b p\u0159ibli\u017euje jeho 2% c\u00edli, ale st\u00e1le z\u016fst\u00e1v\u00e1 m\u00edrn\u011b nad n\u00edm. To nazna\u010duje, \u017ee pokles cen je pomalej\u0161\u00ed, ne\u017e by bylo ide\u00e1ln\u00ed, co\u017e ospravedl\u0148uje m\u00edrn\u00e9 o\u017eiven\u00ed ekonomiky. Centr\u00e1ln\u00ed banka tak\u00e9 upozornila na p\u0159etrv\u00e1vaj\u00edc\u00ed nejistotu v hospod\u00e1\u0159sk\u00e9m v\u00fdvoji a rizika, kter\u00e1 by mohla ohrozit jej\u00ed c\u00edle pln\u00e9 zam\u011bstnanosti a cenov\u00e9 stability.<\/p>\n

Hospod\u00e1\u0159sk\u00e1 aktivita vyk\u00e1zala p\u016fsobiv\u00fd r\u016fst, ale st\u00e1le se objevuj\u00ed n\u00e1znaky, \u017ee by mohla za\u010d\u00edt oslabovat. Sn\u00ed\u017een\u00edm \u00farokov\u00fdch sazeb se Fed pokusil podpo\u0159it investice a spot\u0159ebitelsk\u00e9 v\u00fddaje sn\u00ed\u017een\u00edm n\u00e1klad\u016f na financov\u00e1n\u00ed pro podniky i dom\u00e1cnosti. Z\u00e1rove\u0148 pokra\u010doval v postupn\u00e9m omezov\u00e1n\u00ed dr\u017eby st\u00e1tn\u00edch dluhopis\u016f a cenn\u00fdch pap\u00edr\u016f kryt\u00fdch hypot\u00e9kami, aby sn\u00ed\u017eil p\u0159ebyte\u010dnou likviditu v ekonomice a zajistil \u00fa\u010dinn\u00e9 prov\u00e1d\u011bn\u00ed m\u011bnov\u00e9 politiky. P\u0159esto Fed nazna\u010dil, \u017ee je p\u0159ipraven p\u0159ehodnotit sv\u016fj p\u0159\u00edstup, pokud to bude situace vy\u017eadovat, co\u017e vyvol\u00e1v\u00e1 obavy z mo\u017en\u00e9ho zv\u00fd\u0161en\u00ed sazeb v pozd\u011bj\u0161\u00ed \u010d\u00e1sti roku.<\/p>\n

Co n\u00e1s \u010dek\u00e1 v roce 2025<\/strong><\/span><\/p>\n

Rok 2025 by mohl p\u0159in\u00e9st v\u00fdznamn\u00e9 zm\u011bny. Nastupuj\u00edc\u00ed Trumpova administrativa v USA se hodl\u00e1 zam\u011b\u0159it na sn\u00ed\u017een\u00ed da\u0148ov\u00e9ho zat\u00ed\u017een\u00ed pr\u00e1vnick\u00fdch osob a uvoln\u011bn\u00ed n\u011bkter\u00fdch tr\u017en\u00edch regulac\u00ed. To by mohlo v\u00e9st k rychlej\u0161\u00edmu hospod\u00e1\u0159sk\u00e9mu r\u016fstu, ale tak\u00e9 ke zv\u00fd\u0161en\u00e9 inflaci. [1] Kl\u00ed\u010dovou ot\u00e1zkou bude zaveden\u00ed slibovan\u00fdch vy\u0161\u0161\u00edch cel na ve\u0161ker\u00fd dovoz, co\u017e n\u011bkte\u0159\u00ed odborn\u00edci pova\u017euj\u00ed za riziko pro dom\u00e1c\u00ed podniky, kter\u00e9 m\u016f\u017ee m\u00edt opa\u010dn\u00fd efekt, ne\u017e jak\u00fd zam\u00fd\u0161leli republik\u00e1ni ve sv\u00fdch z\u00e1m\u011brech.<\/p>\n

Dlouhodob\u00e9 v\u00fdhledy vy\u017eaduj\u00ed pohled nad r\u00e1mec kr\u00e1tkodob\u00e9ho v\u00fdvoje. Navzdory koment\u00e1\u0159\u016fm p\u0159edstavitel\u016f Feder\u00e1ln\u00edho rezervn\u00edho syst\u00e9mu o vy\u0161\u0161\u00ed ne\u017e o\u010dek\u00e1van\u00e9 inflaci z\u016fst\u00e1vaj\u00ed cenov\u00e9 v\u00fdkyvy pod kontrolou. B\u00fdval\u00fd m\u00edstop\u0159edseda Fedu Alan Blinder, nyn\u00ed profesor ekonomie na Princetonsk\u00e9 univerzit\u011b, poznamenal, \u017ee bezprost\u0159edn\u00ed reakce trhu, jako byly ty p\u0159ed V\u00e1nocemi, b\u00fdvaj\u00ed p\u0159ehnan\u00e9 a odtr\u017een\u00e9 od reality. Faktem z\u016fst\u00e1v\u00e1, \u017ee americk\u00e1 ekonomika roste rychleji ne\u017e celosv\u011btov\u00fd trend. Nav\u00edc politick\u00e1 nejistota, kter\u00e1 trhy zat\u011b\u017eovala v uplynul\u00e9m roce, se po prezidentsk\u00fdch volb\u00e1ch zm\u00edrnila.<\/p>\n

David Matulay, analytik spole\u010dnosti<\/strong> InvestingFox<\/strong><\/a><\/em><\/p>\n

* Historick\u00e9 \u00fadaje nejsou z\u00e1rukou budouc\u00ed v\u00fdkonnosti.<\/p>\n

[1] V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed p\u0159edstavuj\u00ed p\u0159edpoklady a sou\u010dasn\u00e1 o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 nemus\u00ed b\u00fdt p\u0159esn\u00e1 nebo vych\u00e1zej\u00ed ze sou\u010dasn\u00fdch ekonomick\u00fdch podm\u00ednek, kter\u00e9 se mohou zm\u011bnit. Tato prohl\u00e1\u0161en\u00ed nejsou z\u00e1rukou budouc\u00ed v\u00fdkonnosti. V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed jsou ze sv\u00e9 podstaty spojena s rizikem a nejistotou, proto\u017ee se t\u00fdkaj\u00ed budouc\u00edch ud\u00e1lost\u00ed a okolnost\u00ed, kter\u00e9 nelze p\u0159edv\u00eddat, a skute\u010dn\u00fd v\u00fdvoj a v\u00fdsledky se mohou podstatn\u011b li\u0161it od t\u011bch, kter\u00e9 jsou vyj\u00e1d\u0159eny nebo nazna\u010deny v jak\u00fdchkoli v\u00fdhledov\u00fdch prohl\u00e1\u0161en\u00edch.<\/p>\n

Pozor! Tento marketingov\u00fd materi\u00e1l nen\u00ed a nesm\u00ed b\u00fdt pova\u017eov\u00e1n za investi\u010dn\u00ed poradenstv\u00ed. Historick\u00e9 \u00fadaje nejsou z\u00e1rukou budouc\u00ed v\u00fdkonnosti. Investov\u00e1n\u00ed v ciz\u00edch m\u011bn\u00e1ch m\u016f\u017ee m\u00edt vliv na v\u00fdnosy v d\u016fsledku kol\u00eds\u00e1n\u00ed m\u011bn. V\u0161echny transakce s cenn\u00fdmi pap\u00edry mohou v\u00e9st k zisk\u016fm i ztr\u00e1t\u00e1m. V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed p\u0159edstavuj\u00ed p\u0159edpoklady a sou\u010dasn\u00e1 o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 nemus\u00ed b\u00fdt p\u0159esn\u00e1 nebo vych\u00e1zej\u00ed ze sou\u010dasn\u00fdch ekonomick\u00fdch podm\u00ednek, kter\u00e9 se mohou zm\u011bnit. Tato prohl\u00e1\u0161en\u00ed nejsou z\u00e1rukou budouc\u00ed v\u00fdkonnosti. InvestingFox je ochrann\u00e1 zn\u00e1mka spole\u010dnosti CAPITAL MARKETS, o.c.p., a.s. regulovan\u00e9 N\u00e1rodn\u00ed bankou Slovenska.<\/p>\n

Zdroje:<\/strong><\/p>\n

https:\/\/www.investing.com\/equities\/nvidia-corp<\/a>
\n<\/u>https:\/\/www.investing.com\/equities\/taiwan-semicond.manufacturing-co<\/a><\/p>\n

https:\/\/www.cnbc.com\/2024\/05\/13\/softbanks-arm-to-launch-ai-chips-by-2025-amid-explosive-demand.html<\/a><\/p>\n

https:\/\/www.reuters.com\/technology\/artificial-intelligence\/meta-microsoft-lift-ai-spending-worrying-wall-street-ahead-amazon-results-2024-10-31\/<\/a><\/p>\n

https:\/\/www.federalreserve.gov\/monetarypolicy\/files\/monetary20241218a1.pdf<\/a><\/p>\n

https:\/\/www.investing.com\/news\/economy-news\/feds-powell-not-ready-to-say-what-trump-policies-will-do-to-economy-3780215<\/a><\/p>\n

https:\/\/www.investing.com\/news\/stock-market-news\/feds-comments-trigger-market-overreaction-says-former-fed-vice-chair-93CH-3781378<\/a><\/p>\n

https:\/\/edition.cnn.com\/2024\/12\/12\/business\/trump-toy-prices-tariffs-inflation\/index.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Um\u011bl\u00e1 inteligence (AI) v uplynul\u00e9m roce ovl\u00e1dla akciov\u00e9 trhy a p\u0159inesla technologick\u00fdm gigant\u016fm neb\u00fdval\u00fd r\u016fst….<\/p>\n","protected":false},"author":2,"featured_media":69819,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[1042,426,45],"_links":{"self":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/69816"}],"collection":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/comments?post=69816"}],"version-history":[{"count":1,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/69816\/revisions"}],"predecessor-version":[{"id":69820,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/posts\/69816\/revisions\/69820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media\/69819"}],"wp:attachment":[{"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/media?parent=69816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/categories?post=69816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infokuryr.cz\/n\/wp-json\/wp\/v2\/tags?post=69816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}