Foreign stocks: AI – justified boom or bubble?

The AI boom continues, with the Nasdaq 100 trading close to its all-time high. Now the first quarterly figures are coming in. They should show whether the boom has a basis – or whether the skeptics and crash prophets are right. 
 

October 23, 2025. FRANKFURT (Frankfurt Stock Exchange). “The AI bubble will burst,” “Waiting for the big implosion,” “Fear of a stock market crash” – concerns about the increasingly highly valued tech sector are growing. At 24,937 points on Thursday morning, the Nasdaq 100 is not far from the record high it reached just under two weeks ago. Since the beginning of the year, the US tech index has risen by almost 18 percent, and over a three-year period, it has more than doubled. Trading in foreign stocks on the Frankfurt Stock Exchange therefore continues to focus primarily on tech stocks. Nvidia is once again at the top of the turnover list. Alphabet, Tesla, Apple, and Amazon are also doing well, as are Microsoft and Palantir.

Tesla (US88160R1014) was the first of the “Magnificent Seven” to present its figures yesterday evening. Although Tesla sold more cars than ever before between June and September, it still suffered a slump in profits. The share price fell and now stands at $439, or €363 on the Frankfurt Stock Exchange. At $470.75, Tesla had reached its highest level since its record high of just over $488 in December 2024 at the beginning of the month. 

Apple at all-time high, Netflix misses earnings expectations

Apple (US0378331005) will not report until next week. However, the stock has already climbed to a new high in US dollars this week. This was driven by signs of rapprochement in the tariff dispute between the US and China and positive analyst comments. Netflix (US64110L1061) is now far from its record highs. The streaming provider presented its third-quarter figures on Tuesday this week. “Netflix missed its profit expectations,” explains Marc Richter. The reason: unexpected costs from a tax dispute in Brazil. “The stock subsequently lost a good 6 percent of its value in after-hours trading in the US,” reports the trader. On the Frankfurt Stock Exchange, Netflix reached an all-time high of just under €1,140 in June, but is currently trading at only €973.  

“However, if you look deeper into Netflix's figures, you can see some positive developments,” adds Richter. With the launch of several profitable series and live sports, viewer numbers and revenues rose by 17 percent year-on-year to US$11.5 billion. Netflix is well on track to offer streaming services to a billion viewers soon. “New subscription models are also playing into Netflix's hands.”

“Hardly anyone is asking critical questions about Nvidia”

Sales peaks Nvidia (US67066G1040) reached new highs just under two weeks ago – in euros and US dollars. Many expect even higher prices and are now looking ahead to November 11, the day the quarterly figures are released. Cantor Fitzgerald is particularly confident at the moment. The US broker has raised its price target from $240 to $300. The share currently costs $180 or €155.