$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
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)
Vietnamese EV maker VinFast is now worth more than Ford and GM after Nasdaq debut - CNBC article
VinFast’s shares jumped some 270% after its U.S. trading debut, vaulting its total market value past some of the world’s largest automakers. On Tuesday, the Vietnamese #electricvehicle maker listed on Nasdaq following the completion of its merger with the U.S.-listed #SPAC (special purpose acquisition company) Black Spade Acquisition. Shares of VinFast closed at $37.06 on Tuesday — 270% higher than Black Spade Acquisition’s IPO price of $10. Following the market debut, VinFast is now currently worth $85 billion, according to CNBC calculations. The SPAC merger previously valued VinFast at approximately $23 billion, according to a June filing with U.S. securities regulator. Source: CNBC
China asks some Funds to avoid net equity sales as Markets sink
Chinese authorities asked some investment funds this week to avoid being net sellers of equities, as a rout in the nation’s financial markets deepened. Stock exchanges issued the so-called window guidance to several large mutual fund houses, telling them to refrain for a day from selling more onshore shares.
BofA’s private clients have been dumping growth stocks while loading on Japan equities
Source: The Daily Shot, BofA
