BREAKING: Super Micro Computer, $SMCI, has now lost one third of its value since the February 16th top.
In less than 2 full trading days, $SMCI has lost ~$20 billion in market cap. Still, the stock is trading at levels seen just 5 trading days ago. Even with the decline since Friday, $SMCI is currently up a massive 160% in 2024. Source: The Kobeissi Letter
On this day in 1959 the Dow Jones closed above 600 points for the first time ever
Source :history
If history is any indication, and if we are in a tech bubble, then we still have room left to run, according to Bank of America
source : BofA, barchart
Big Tech Concentration in one chart
The spread of Nasdaq 100 over Nasdaq Composite is near ATH! Source: Bloomberg, HolgerZ
Nvidia’s $NVDA February rally to the $720+ range has taken the stock above the average target price estimate, which sits at just under $700.
"Money time" is on Wednesday (earnings results)... Source: Bloomberg
Magnificent 7 profits now exceed almost every country in the world
The so-called “Magnificent 7” now wields greater financial might than almost every other major country in the world, according to new Deutsche Bank research. The meteoric rise in the profits and market capitalizations of the Magnificent 7 U.S. tech behemoths - Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla — outstrip those of all listed companies in almost every G20 country, the bank said in a research note Tuesday. Of the non-U.S. G20 countries, only China and Japan (and the latter, only just) have greater profits when their listed companies are combined. source : cnbc
China and US elections reiterate the durability of the onshoring theme.
Source: Goldman Sachs
The trend is your friend...
Source: Goldman Sachs, TME
