$NVDL (2x Nvidia ETF) went from 0 to 1,452% return in 350 days since launching..
The ETF now has $2.7b in assets and $1b/day volume. Source: Eric Balchunas, Bloomberg
The Semiconductor Index, $SOX, relative to the S&P 500 has once again exceeded Dot-com bubble levels.
The Semis vs S&P 500 ratio has roughly doubled in just 2 years. This comes after a massive semiconductor sector rally of 85% compared to a 35% gain in the S&P 500. The rally has been led by NVIDIA, $NVDA, which has seen a 560% surge during this time. Meanwhile, the top 10% of stocks in the US now reflect ~75% of the entire market, the most since The Great Depression of 1929-1939. Source: The Kobeissi Letter, Bloomberg
The higher a stock's price goes, the more expensive it gets. Right? Well, not always.
A year ago, when NVDA was selling at $277, its earnings per share was $0.82 and its P/E ratio was 147x Today, NVDA's share price is up +284% to $1,064.... BUT... Its earnings per share is up +629% to $5.98. Its P/E has fallen to 62x... forward P/E is now at 30x So, NVDA is CHEAPER today than it was a year ago. Source: Adam Khoo Trader, Piranha Profits
A key point on Nvidia story: $NVDA CEO Jensen Huang doesn't lack demand. What he lacks is supply.
In an exclusive interview following last week's earnings Huang said demand for its programs will soon outstrip supply, with the complexity of these chips also challenging the company's efforts to keep pace. Source: Yahoo Finance
Nvidia vs US energy sector...
At $2.6 trillion, Nvidia's market cap is now over $900 billion higher than all of the companies in the S&P 500 Energy sector ... combined. The net income of the Energy sector is $128 billion vs. $43 billion for Nvidia. $NVDA $XLE Source: Charlie Bilello
THE TATTOO FACTOR...
Source: Gurgavin
Thursday's US stock market heat map. $NVDA is literally holding up the entire market.
Source: The Kobeissi Letter
Nvidia is bigger than entire German stock market, the entire Australian market or the entire Korean market.
Canada and Saudi are within reach. Source: Bloomberg
