🎤 Nvidia drops the mic

👂️ And everyone was listening

Wyatt from Alts
February 22, 2024

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*past 24-hour performance

Nvidia's record-breaking earnings crushed expectations, with its shares jumping 9% in after-hours trading.
- Revenue surged by 265% from the previous year.
- Its data center business experienced a staggering 409% growth in fourth-quarter sales, hitting $18.4 billion.
- For context, its entire 2021 revenue was only $16.6 billion.
- Growth last quarter was mainly driven by sales of H100 GPUs used for modern AI workloads.
Minutes from the most recent Federal Reserve meeting in January show them as very cautious to cut rates before inflation sustainably returns to their 2% target.
Japan's Nikkei 225 hit a new all-time high, surpassing its 1989 peak and closing at 38,924.88.
- This is another way of saying the Nikkei has had a 0% ROI over the last 35 years.
Capitol One's acquisition of Discover will have a big impact on consumers.

Given Nvidia’s 🔥 earnings report, the S&P is set to become even more concentrated.

Adding $153 billion in market cap in a day feels like a moon to me!

This is how you dominate a category. Despite a horror-show earnings report, BetterHelp gets nearly as much search traffic as the entire category.

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Earnings, upgrades, and acquisitions

Rivian announced a 2024 production outlook of 57,000 units, 13,000 less than expected. It will cut 10% of staff. Shares tumbled more than 15%.
Rolls-Royce, which was up 200% in 2023, smashed earnings. Shares climbed 10%.
Moderna issued a double beat even though vaccine sales are plummeting. Shares up 5%.
Palo Alto Networks' stock plummeted 28.4% after a strategy shift and reduced 2024 guidance announcement.
Teladoc, the parent company of therapy service BetterHelp, missed earnings estimates and delivered weak guidance. Down 23%.
Vertiv, which produces cooling systems for data centers, doubled Q4 earnings but reported weak guidance. Shares fell then stabilized after-hours.
Bausch + Lomb's shares surged over 11% after Q4 results and 2024 guidance exceeded expectations, fueled by a 67% pharmaceutical sales jump.

Market movers

Microsoft and Intel forged a $15 billion chip production deal, advancing Intel's foundry ambitions.
Following Nvidia's earnings triumph, AI and semiconductor stocks surged; TSMC climbed 2.05% and Super Micro Computer soared 11.42% in extended trading.
BuzzFeed cut 16% of its staff and sold Complex to NTWRK for $108.6 million, aiming for stability.
Spotify stands to benefit from a $540 million EU fine against Apple over antitrust issues.

Shein and Temu are stressing air cargo, shipping 600,000 packages daily to the U.S.
Robots and AI are catalyzing a U.S. productivity boom, addressing worker shortages and bolstering economic resilience.
Paramount Global might be 40% undervalued with a promising plan for a comeback.
3 overlooked semiconductor stocks.
Global debt hit a new high of $313 trillion in 2023.
Three slow-and-steady stocks targeting 50% growth by 2030.

🇩🇪 Germany slashed its growth forecast to 0.2% due to high energy costs, skilled labor shortages, and bureaucratic hurdles.
🇯🇵🇲🇲🇺🇸 A Yakuza leader was charged in the U.S. for attempting to sell nuclear materials from Myanmar to Iran.
🇹🇷 Turkey paused rate hikes, keeping their benchmark at 45%.
🇹🇼🇯🇵 Taiwanese chip firms, including TSMC, are expanding in Japan due to the U.S. push to limit China's semiconductor progress.
🇳🇬 Inflation neared 30% in Nigeria.
🇨🇳 China's childcare costs are among the most expensive in the world.
🇮🇷🇮🇱 Iran accused Israel of a sabotage attack on a natural gas pipeline.

Yields continue to rise as investors come to terms with a hawkish Fed.
Four dividend stocks with solid fundamentals and growth potential.
The concept of "Dividend Kings" can be naive, underperforming the market, and more nuanced strategies.

ETF speculation has turbo-charged Eth to a 30% increase.
BTC is near its all-time high, but where are the retail investors?
South Korea's major political parties are wooing young voters with pro-Bitcion policies.

The world’s most expensive residential property is for sale for $295 million in Naples, Florida.
Passengers on a United flight watched part of the wing fall apart.
Strapping magnets to your head might just cure your depression.

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt