In this edition we cover the equity market’s monster, Nvidia Corp., which reports earnings on Wednesday and explain why it’s even more important than you think. Google’s “Code Red” in response to ChatGPT is also discussed and the diversion covers new developments in poetry .) in July 2017 called “’The smartest company in the world’: Why this stock could be a solid bet for future riches.” Did I buy any? No. This cements me firmly as NOT the smartest investor in the world.
BofA Securities equity-linked analyst Gonzalo Asis explained why in a Monday research report. He said Nvidia drove 20 per cent of the entire S&P 500’s return over the past 12 months. It is forecast to determine 25 per cent of the entire benchmark’s profit growth for the third quarter. He concludes that “with the market taking a breather last week following the election rally, we believe NVDA earnings can dictate the near-term direction of the market.
There are also broader trends that Nvidia’s earnings report might affect. BofA’s own quantitative U.S. equity strategist Savita Subramanian is noting a record valuation discount between the conventional, Magnificent Seven-dominated market cap weighted S&P 500 and the equal weighted benchmark. Nvidia, as the most magnificent of the seven, could hasten the trend away from recent technology market leadership.
But, younger cohorts are increasingly using TikTok, Meta and GPT “at the top of the e-commerce research funnel,” according to Mr. Nowak. Innovations in visual search like Amazon StyleSnap, which takes an image and finds similar products for sale, have shown significant growth.
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