How do I reconcile this:
With this — the last five days?
I reconcile it thus: Many institutions have made good money this year on NVDA. Most have doubled their investment.
By selling now, they’re simply “locking” in their profits. They’re not making a judgment on Nvidia’s earnings — present or future.
Every analyst and news media has been ecstatic. For example, Louis Navellier wrote his subscribers:
The bottom line: While Wall Street was clearly looking for more of a blowout result, I am ecstatic with NVIDIA’s results. This stock is a game changer, and you should just own as much as you can – and that means today’s dip is a buying opportunity.
Cramer also intoned that Nvidia is a stock you should own, not trade. He said he’d never seen a stock in his 43 years of investing as impressive as Nvidia.
The press was also kind to the company. Here are two cover pages from yesterday:
The best part of all the gufufu over Nvidia’s earnings announcement was an interview Bloomberg TV did with Jensen:
Jensen is calm, full of impressive stories and explanations.
I’m not selling my Nvidia shares. Neither should you. If you have some cash, buy some more shares.
The analysts on Wall Street have targets way, way above where the stock is presently trading.
Favorite New Yorker cartoons
Tennis is an amazing sport
The U.S. Open is playing. Watch it on ESPN, 2 and 3, etc.
Last night a Dutchman who had recently said he was about to give up professional tennis because he was doing so badly, beat Carlos Alcaraz, who was one of the favorites to win. Here’s Carlos press conference trying to explain why “Sh*t happens.”
I’ll be back. That a promise and a threat. –
If you know any friends who’d like to receive this blog, email me. — Harry Newton
