) to reclaim the top spot. Moor Insights & Strategy founder, CEO, and chief analyst Patrick Moorhead emphasizes that Nvidia's continued dominance hinges on"then this whole gravy train comes to a screeching halt."" investors should consider trimming some of their gains in these areas and reallocating into sectors like industrials, energy, and healthcare.
In addition, it's S and P rebalance day with the tectonic shift in apple versus in video holdings and video has been setting records for options activity and all in all.
And that is because you do tend to see a little bit of an opportunity to sell off and some of the biggest players in the stock market heading into a triple which day. And we do need to be very careful and look for what I call the precursors of something that could pull back. So what they're doing is they're enabling companies like H Pe Dell Technologies and pure storage and Lenovo to build that out.This is what it was all about.And it's interesting in your notes to us, you explained that this is a private cloud play how bullish of a signal is that for the chip sector in general, but specifically here for NVIDIA.
Yeah, some of the earlier data center uh chips that NVIDIA had, they might sell for 5 $10,000 a piece.Uh It's probably over 1000% gross margin, but the longevity here, so you've got co two levels of competition first. But anyway, all these things considered Patrick, it's been one of the most overcrowded or de facto as Goldman Sachs has called it A I trades here.
And we see, keep seeing positive news coming out from NVIDIA with its partners, Patrick Moorhead, who was the more insights and strategy founder, Ceo and chief analyst, Patrick.Sarepta shares surging after receiving expanded us approval from the FDA for its muscular dystrophy drug Yahoo Finance's Angelique Kani has all the details on this one.
And this is coming from Gilead seeing some really positive results from early trials with regards to an HIV drug.It's a twice yearly shot, uh has proven 100% efficacious in women in a study, a late stage study in Africa that's for women and adolescent girls. We've got the analyst behind it in this hour and stay tuned for our 10 a.m. hour of catalysts where we'll bring you a day in the life of Boston fed President Susan Collins, you won't want to miss it.
I've already seen a lot of the promotional elements going on, uh, around, uh, Cindy mclaughlin who of course is with new balance.I mean, golf is the one area where I think the US with their own kind of annexation to apparel has missed the mark.But anyway, all these things considered, it's because Ralph Lauren didn't want that contract um because of a Ryder Cup debacle.
The company is saying in a statement that headwinds due to quote widespread inflationary pressures, higher interest rates and tighten lending standards continued to impact sales.Um, ultimately, they bought 314,000 vehicles from consumers and dealers that was actually lower.They said that was impacted by lower year over year seasonal appreciation here.It was kind of a pick what data point you want to prove your narrative print.
You can see that over the past three months is down 14% year to date down just 7% after having a little bit of a run over the March and April months there.Of course, after originally plunging on news of its plans for a one for 30 reverse stock split, the move set to go into effect after the market closed on June 24th shares of Nicola are down over 60% so far this year pre market.
And as some contacts here, this is the company that provides battery and hydrogen fuel cell electric vehicles.And this comes amid a week that we've seen a couple of lines that have been negative for just the broader EV industry. You're seeing that here today at the gate down, but fractional gains over the course of this week, Mattie, should we take a look at the Dow 30 components?It's interesting to see Microsoft continuing to kind of have hold over this market.
So what I would might expect from here is just a little bit of a pause, some sideways action and then uh usually the trend resumes, but it doesn't always have to app end that way.So let's skip over to the semiconductors here, arm down 3% as well. All right, Jared, thanks as always, really appreciate it and great point on the kind of bifurcation that we see in the software and chips sectors as well there.
And, and you know, if you could pick the top and a momentum market before you have a halfway decent correction, it would make it a lot easier. But we think we'll probably have a bumpy road that will provide some opportunities and equities between now and then, Scott Big themes are typically easy for investors to try and wrap their minds around what what the runway might look like.
So I think it's going to revolve around inflation staying higher for longer and then at some point, you know, consumers are starting to back off.So I think it'll be a combination of higher inflation and a slower economy that'll spook, spook a few people and cause a little bit of money to come out of the market and give you that opportunity, Scott with the opportunities.Meta getting a bullish call from Keybank will speak to the analyst behind it.
So as you really refine what type of ads people are seeing, provide them more relevant ads that really boosts the return for the advertiser and encourages them to spend a little bit more on ads, which is what we're seeing in that pricing trend right now. Um Just because they all have short form video apps and that time spent will go back to the Instagrams, the uh Facebook reels, the youtube shorts, so on and so forth.
So it seems like there could be some type of potential play where they would see even more of those core users say. So you can actually view Spotify as a beneficiary from this too where if uh tiktok, you know, is held up on the US side on the social front, you're certainly not going to see a music app here anytime soon.Ok, Justin Patterson, key bank managing director, thanks so much, Justin, appreciate the breakdown and walking us through both Meta and Spotify here this morning.Hacks cause a lot of problems, auto retailers across the US.
So that's something that we were discussing yesterday just with regard to some of the opportunity within cyberspace or cybersecurity investments, particularly, there are two that continue to come to mind for me over the years, I've been tracking Cibr and then H AC K as well. So it's interesting to see kind of that upside movement coming from the those names given that the uh, cyber security question continues to be a big problem in the overall market space.Right.We don't have the final word on what that was but seems like it was probably a cyber attack.Well, coming up here, we're gonna dive deeper into the catalyst, moving markets later.Canadian investors can hold undervalued TSX dividend stocks in a TFSA and benefit from outsized gains 2024 and beyond.
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