CNBC's "Fast Money" : All Eyes on Nvidia’s Quarter, Foot Locker Goes Foul, and What’s Driving Netflix Higher? 8/23/23
Aug 23, 2023
Nvidia's strong quarterly results and positive impact on the tech industry. Foot Locker's poor performance and its implications for athletic wear retailers. Analysis of market performance and company stocks. Ongoing strikes in Hollywood and their potential impact. Market outlook for top-down cap stocks and growth prospects of Uber cap stocks.
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Nvidia's Unstoppable Growth
- Nvidia's Q2 results show phenomenal growth, with a substantial jump in revenue and a massive increase in guidance.
- Despite high valuations, Nvidia's growth, driven by AI demand, may justify its current price, although it remains expensive.
Nvidia's Market Dominance
- Nvidia dominates the AI chip market, holding a significant share and effectively setting the stage for long-term success.
- With no close competitors, Nvidia's success hinges on the overall growth of the AI market, which remains uncertain.
Investing in Nvidia
- Wait for a few days to observe stock market reactions before investing in Nvidia.
- Set a stop-loss order around $450 to protect your investment.