Futures are lifted as Nvidia crushed earnings and guidance. After yesterday's slump the market is driven by the bulls in early trading.
Nvidia (NVDA) reported a killer quarter with a top and bottom beat and guidance of $11 Billion for the current quarter, up from $7B. That's a lot in case you were wondering. The stock surged up to 27% early Thursday and reached a $1 Trillion market cap. $1,000,000,000,000 joining Microsoft (MSFT) and Apple (AAPL) amongst others.
A reason for the surge is that NVDA is the premier producer of GPUs used in AI efforts from Microsoft to Open AI, the company behind Chat GPT. The spike in the stock is very steep and if you're not already in it you might have missed it. If you own it, don't trade it! Take some off the top.
Advanced Micro Devices (AMD) gained 7% on NVDA's quarter but they make CPUs that are not as important as NVDA GPU. They are not the same.
Stocks to Watch
Disney (DIS) continues to be dragged down by analysts. Guardians of the Galaxy 3 needs to perform to kick off any type of momentum.
Snowflake (SNOW) 4 price target reductions with targets at $155-$200.
Happy Investing!
The Punkrock Capitalist
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