Wall Street Shrugged Off Nvidia’s Poor Showing

Earn While You Learn! ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ [EARN WHILE YOU LEARN! JOIN OUR FREE LIVE TRADING SESSION!]( Hello investor, Wall Street Shrugged Off Nvidia’s Poor Showing What was the market’s reaction to Nvidia’s plunge after its earnings report? So what. At least for now. Wall Street brushed off Nvidia’s decline, as the Dow Jones hit a new all-time high. The Russell 2000 also finished the day in green. Nvidia’s decline was a matter of being priced for perfection. Investors had sky-high expectations, and a slight disappointment led to a small reset in its valuation. Otherwise, it didn’t affect investors’ sentiment on the overall growth prospects for the economy. - “The slide in Nvidia’s shares after the release of its latest consensus-beating results bolsters the argument that it was priced for perfection,” said John Higgins at Capital Economics. - “But that doesn’t mean its party is over, or that the AI bubble is bursting.” The chart below shows how Nvidia’s quarterly growth rate slowed since its peak of 265%. The next quarter is expected to slow further. (Source: Bloomberg) Yesterday also revealed that the GDP grew at a slightly stronger pace in the second quarter than previously reported. Consumer spending was revised higher to make up for a slowdown in other categories. - “The message of this morning’s data is ‘steady as she goes’,” said Chris Larkin at E*Trade from Morgan Stanley. - “The economy doesn’t appear to be falling off a cliff, and in the current market, good news is good. There was nothing here to make the Fed rethink its plan to cut rates next month.” We will get the core personal consumption expenditures price index report. It is the Fed’s preferred inflation gauge, and economists expect it to be close to the 2% level. Some retailers have struggled in their recent earnings reports. Lululemon Athletica, Ulta Beauty, and Dollar General lowered their sales outlook due to lower demand. However, some tech companies remained strong. Dell Technologies reported better-than-expected revenue due to the demand for its servers to power AI projects. Autodesk raised its full-year earnings outlook. So, traders can expect more mixed economic data from now on. 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Below are some of Pure Storage’s hardware offerings: (Source: Pure Storage) Pure Storage’s memory chips are high-end and more expensive than traditional platter-based hard disk drives. But they’re smaller, faster, more power-efficient, and more durable. For example, its product called FlashBlade S allows companies to run massive file and object workloads – such as computational analytics and AI, image search and recognition, electronic design automation, media special effects, high-performance computing and data protection. More importantly, it can be continuously upgraded without disruption. - “One customer who installed Pure to replace a competitor's all-flash product reported a tenfold improvement in performance, while also significantly reducing their labor and energy expenses,” said CEO Charlie Giancarlo. Beyond its hardware business, it offers cloud and artificial intelligence services to help companies save storage space and properly configure their devices. The storage-as-a-service blends on-premise data storage (hardware) with cloud services for those who want to store data seamlessly between hardware and the cloud. (Source: Pure Storage) A massive number of customers: Pure Storage holds more than 13,000 global customers, including about 62% of Fortune 500 companies. Clearly, this validates Pure Storage as a must-have product for modern corporations. (Source: Pure Storage) It has been named a leader in storage for many years by Gartner, saying that customers choose Pure Storage for its hybrid solutions of cloud and hardware approach, simplicity for installation, and pay-as-you-go pricing model. Gigantic market: Nearly every corporation will need to use data, right? It’s inevitable. Therefore, the market is huge for Pure Storage. For now, it puts the Total Addressable Market at $60 billion, which would represent only 4.7% of its FY24 revenue. (Source: Pure Storage) Bottom line: Pure Storage operates in perhaps the most important megatrend in many sectors – data + AI. Its hardware is consistently ranked as number one in the industry, enabling corporations to run large-scale data projects. So, this stock might be a good one to own for the next couple of years. [EARN WHILE YOU LEARN! JOIN OUR FREE LIVE TRADING SESSION!](       © All Rights Reserved, Trade Alliance [Unsubscribe]( | [Manage Preferences](