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NVIDIA: The Magnificent One

January 14th, 2024:


"Nvidia Corp. is off to its strongest-ever start to a year by one measure...the artificial-intelligence darling has added roughly $128 billion in market capitalization after rising about 10% this month, an unprecedented gain in value in the first nine trading days of the year for the company"


"Nvidia this year is easily outpacing the broader market and the rest of the so-called Magnificent Seven megacap technology stocks. That’s making it a major bright spot as the S&P 500 Index has stalled near record highs amid questions around corporate profits and the timing of anticipated Federal Reserve interest-rate cuts"



FR Opinion:

It was a bright spot for sure so far this year. But is it really a "bright spot" going forward when the best performing large cap stock of the past year goes late stage parabolic in the new year?


Here we see the % performance of the six $trillion+ market cap stocks - all of which are Tech stocks. Nvidia is up +230%. Whereas the rest of the field is up somewhere between 40-65%. Basically clustered around 50%:







In other words, similar to the way that most pundits view the Fed capitulating and beginning to ease in 2024 as fantastic news, "we" are a bit more circumspect when we see "good news" that is more than likely priced in to markets.


Then again, I have to admit I never thought we would see this again:


Booyah Skidaddy!





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