This week has seen the biggest set of 'bad news' since April...
And that bad news prompted a very aggressive bid for global bonds with USTs tumbling 8-12bps on the day, leaving the long-end down 9bps on the week (but 2Y +2bps still) Source: www.zerohedge.com, Bloomberg
Nvidia ($NVDA) data center revenue in 2Q was $10.32 billion vs. $3.81 billion y/y, beating estimates of $7.98 billion
In less than a decade, it's gone from a rounding error to the main source of sales. Source: Bloomberg
$NVDA soars ~10% after hours, crushing sky-high expectations “A new computing era has begun" - Co-founder & CEO, Jensen Huang
Still, let's keep in mind that part of the buzz is already baked in the valuation as illustrated below Source: Quartr
$NVDA NVIDIA Q2 FY24 in one chart by App Economy Insight
Nvidia shares climbed 8% in extended trading on Wednesday after the chipmaker beat estimates for the second quarter and issued optimistic guidance for the current period. Nvidia said it expects third-quarter revenue of about $16 billion, higher than $12.61 billion forecast by Refinitiv. Nvidia’s guidance suggests sales will grow 170% on an annual basis in the current quarter. Source: CNBC, App Economy Insight
"Soft landing" narrative is now the consensus. This also happened in 2000 and 2006...
Source: Game of Trades
The Nvidia share shows very well that analysts usually lag behind the share price with their price targets
Source: HolgerZ, Bloomberg
Nice visualization 👇
Source: Blake Millard thru Michel A. Arouet
Stock market (sp500) volatility in 2023 has tracked alongside historical seasonality. A continuation of that trend would imply a spike in volatility is coming...
Source: Liz Young, SoFi, Bloomberg
