) takes center stage after surpassing quarterly expectations following its global tech outage in July. KeyBanc Capital Markets equity research analyst Eric Heath discusses why investorsThis is Yahoo Finances flagship show.Wall Street is tracking a robust GDP revision as well as in video earnings that didn't quite impress investors.Yahoo Finance and how the Jar and the P have more video shares are trading lower despite beating or meeting expectations on nearly every single metric.
Meanwhile, initial jobless claims nearly in line with expectations at 231,000 claims versus the 232,000 expected that down just slightly from the prior week, revise level. Now, they uh said uh Ceo Colle Kress had said that they made some changes to the mask of the, the chip itself.Uh We're going to get it out there.We executed a change to the Blackwell GPU mass to improve production yields.
Now, the valuation when you have a high flyer like NVIDIA could get stretched at times going into the print.Uh what we need is for the fiscal year estimates next year to go up.OK. Therefore, Hopper was out, you know, roughly two years ago uh began shipping in October stock was down 60%.Early next year will be fireworks again for NVIDIA and we will be on track for that 10 trillion.
There's not a lot available for enterprises and start ups right now, which means they're hogging it, they're courting it, Google and face you, Meta and Apple and these others that are buying GP US and custom silicon, they're using it for their own businesses that's key because they're not even at the point yet where they're trying to leverage an ro I on their cloud infrastructure.
All right, Beth Kig, who is the I ound lead tech analyst, Beth, good to catch up with you once again.The company beating Wall Street estimates on sales operating margins and earnings here, the CEO Mark Benioff touting the company's A I initiatives in an interview with Yahoo Finance.
Microsoft has disappointed so many customers with A I that said by the executives from sales force on the earnings call. There was this overhang question of whether or not this print would be enough to really re instill some of that confidence. So how do you see that all playing out when we think about growth through the end of the year and into 2025?And this is the key question because the risks I think are more skewed to the downside.
So there's some question about how much is the labor market loosening, but so far you're not really getting those layoffs. It triggered the so rule which historically has been an excellent barometer for recessions in the post war period. And if the unemployment rate keeps moving up, even if it's for more people coming into the labor force, I think it's gonna be very hard for them not to get worried about, um, the, those recess risks.You could be getting uh good moves up in the unemployment rate.
Uh because I think central banks don't want to lose those hard won gains that they had on inflation from earlier in the cycle.I think again, if the unemployment rate moves up more from here, it will be very hard for them not to move more aggressively see the employment report. And then as we're alluding to really when the home buying market picks up again, when interest rates fall, maybe that could help with appliances as well.
I mean, it's looking to lower consumers with good deals, but that core consumer is that lower income. We are counting down to the open of the trading day and we're going to discuss that with Megan Horman of Verdant capital. Thank you, Ali, I was just watching the Small Caps because they've had kind of a rough go, they've been under performing and meanwhile, the major industries really haven't done much this week.
But now even with NVIDIA down by about 2% during today's trading activity and the major averages seeming to still hold on to gains.I do think there, this rotation has some legs to it. Well, first of all, when it comes to some of these names that have really driven the S and P 500 higher, make sure you're not overweight to where you wanna be.Also have a good amount of cash on the sidelines to be able to put to work.
So I think, um if you look at the S and P 500 we saw it a, you know, a couple of months ago where we had about an eight or 9% decline, we saw small and mid caps down about a 5% decline.Um, but the one thing that we need to see in conjunction with that decline is that they're getting a little bit more realistic on earnings expectations.
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