Nvidia, $NVDA, has added nearly $250 billion in market cap so far today.
This puts the stock on track to post the biggest single-day market cap gain in stock market history. The previous record? It was Meta, $META, just 20 days ago after reporting their quarterly earnings. Nvidia is now just 5% away from being the third US company with a $2 trillion+ market cap. Big tech stocks are getting bigger. Source: The Kobeissi Letter, Bloomberg
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Source : Bloomberg
European stocks are hitting all-time highs, following Japan!
source : bloomberg
Germany’s manufacturing downturn unexpectedly deepens amid falling demand at home and abroad.
S&P Global’s PMI for the country’s industrial sector dropped to 42.3 from 45.5 the previous month – well below any economist estimate in a Bloomberg survey. The picture was brighter in France, where the contraction eased much more than analysts had predicted. Companies reported improving demand while expanding their workforce. Source: Bloomberg, HolgerZ
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To put things into perspective. As Nvidia's profits have risen faster than its share price in recent years, share is trading at a P/E ratio of ~30.
But of course, this is also due to the high margins. If they were to be disrupted at some point due to increasing competition, the low valuations would be over. Source: Bloomberg, HolgerZ
