$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
Warren Buffett's Berkshire Hathaway reported $1 trillion of assets for the first time last quarter
That's roughly triple the assets of Apple, 10 times Tesla's figure, and 20 times Nvidia's total. Berkshire's assets have ballooned 33,000-fold under Buffett, from under $30 million when he started. Source: business insider
Eli Lilly stock hit a new record high yesterday as the company continues to record a surge in sales for its buzzy diabetes drug Mounjaro
Sales of Mounjaro, which has also gained popularity for weight loss, came in at $979.7 million for the second quarter, up from $16 million a year earlier when it was introduced (2Q results were publichsed 2 weeks ago). That helped the drug company post higher-than-expected sales for the second quarter. Novo Nordisk is also surfing on the strong demand for a similar weight loss blockbuster
Orange juice futures are trading like a meme stock! The surge is mainly driven by #supply driven (exarcebated by speculators positioning). The 2 supply issues are the following:
1/ Extreme weather intensified by global heating ravaged this season’s crop of the citrus fruit: last year Florida, which produces more than 90% of the US’s orange juice supply, was hit by Hurricane Ian, Hurricane Nicole and freezing conditions in quick succession, devastating orange producers in the Sunshine State. 2/ A bacterial disease -> Florida Producers battled an incurable citrus greening disease that is spread by an invasive insect, rendering fruit unusable. Most infected trees die within a few years, and some producers said they were giving up farming and selling their land. Industry figures said US orange production would reach its lowest level for more than a century. Source: The Guardian, Longview Economics
48pct of global stocks are BELOW pre-covid levels
Source: BofA
The generative AI software market is forecast to rapidly grow from $1.5B in 2022 to nearly $280B in 2032
Representing a 69% CAGR – driven by AI assistants and workload infrastructure software, which could contribute $160B combined. Source: Bloomberg, Beth Kindig Potential winners? $META $ADBE $NVDA $MSFT (not an investment recommendation)
At least a positive (contrarian) news
The SPX Put to call ratio is at its highest since the SVB banking crisis. In a short term view, the 'PUT BUS' is getting crowded and a crowded trade is usually not a good trade. Source: JC Investment
Bitcoin trading volume just hit the lowest point ever recorded
Source: Bitcoin news
