SPDR S&P 500 ETF Trust Sees Inflows Amid AI Focus

SPDR S&P 500 ETF Trust ( $SPY ) has fallen by 0.50% in the past week. It has experienced a 5-day net inflow of $3.07 billion.
This is due, in part, to market sentiment on some of the ETF’s largest holdings. For example:

• Nvidia Corporation stayed firmly in the market’s AI spotlight this week, with investors weighing how long its explosive data‑center growth can last. The chipmaker’s latest quarter showed accelerating revenue and fatter margins as its new Blackwell GB200/GB300 platforms ramp, and management now sees roughly $500 billion of data‑center orders for Blackwell and next‑gen Rubin systems through 2025–26. Wall Street broadly views the stock as undervalued relative to this growth: consensus calls NVDA a Strong Buy, with an average price target around $263 implying just over 40% upside, and some top analysts see as much as 90% upside if AI spending remains robust. Even in more cautious scenarios, bears still forecast modest gains, arguing that concerns over “circular” AI deals and an eventual slowdown in capex may temper returns rather than derail Nvidia’s dominant position at the center of the global AI build‑out.
• Apple Inc spent the week walking a tightrope between regulatory risk and investor optimism. India’s Competition Commission issued a final warning in a long‑running antitrust probe into Apple’s App Store practices, accusing the company of stalling the investigation by withholding financial data and formal objections; Apple is fighting back in the Delhi High Court, arguing that potential fines—estimated at up to $38 billion if calculated on global revenue—would be excessive and that the antitrust case should pause until that issue is settled. Despite the overhang in one of Apple’s key growth markets, analysts maintain a Moderate Buy stance on the stock, with an average price target near $299.69 suggesting about 15% upside as Wall Street continues to bet that Apple’s services ecosystem, strong cash flow and product pipeline will outweigh the drag from possible penalties or tighter App Store rules.
• Microsoft remained a core AI proxy for investors, thanks to its deep financial and technical ties to OpenAI and a broader internal shift toward AI‑driven operations. OpenAI, heavily backed by Microsoft’s capital and Azure cloud, expanded its lower‑priced ChatGPT Go plan to more than 170 countries and is preparing to test interactive ads in both the free and Go tiers, moves aimed at pushing annual revenue from over $13 billion today toward a projected $100 billion by 2027 and reinforcing Azure’s role as the backbone of this growth. Inside Microsoft, the company is closing traditional campus libraries in the U.S., Europe and Asia in favor of AI‑supported digital learning spaces, even as its Xbox console business shows flat hardware sales late in the current cycle. Overlaying the story is legal noise: a federal judge has cleared Elon Musk’s lawsuit against OpenAI and Microsoft for an April jury trial, with OpenAI warning backers to expect headline‑grabbing claims, though it argues the financial stakes are limited. Wall Street so far is looking past these risks, keeping a Strong Buy rating on Microsoft shares and an average price target around $631—roughly 36% upside—as investors focus on the potential upside from AI monetization across Azure, productivity software and its stake in OpenAI.