Investment Insights
Good..Enough | CIO Insights
Sunil Garg Managing Director, Chief Investment Officer
Not surprisingly, NVDA, not only did it beat consensus, guidance also surpassed expectations - and of course 70% growth is nothing to scoff at. More importantly, share price reaction, up 5% after/pre-market (at time of writing), was better than last few earnings releases.
Yesterday (see note Firework?) we talked about NVDA igniting tech and semis from it's slumber - initial share price reactions across the AI infrastructure ecosystem kindle optimism. Helping tech overall is also strong showing by CRWD and, hold your breath, by CRM!
PCE report, headline basis held steady and mostly met expectations.
Follow through is critical - trade with the direction - and if tech holds into the weekend, expect more upside.
Core PCE - steady/ meeting expectations
SMH/SPY - Can NVDA reverse the underperformance?
