Diamonds and Dogs
Nvidia (NVDA) trading at new all-time highs. The chipmaker is up 2% following better than expected earnings. Nvidia easily beat expectations as sales rose 38% to $3.08 billion. Robust sales from data centers led the out performance. While the markets are down for the year, Nvidia is up 50% for the year and up 100% from the March lows. Two recent upgrades with $400 and $410 price targets indicates there is more room to grow. Amazing.
Alibaba (BABA) lower following earnings. The Chinese e-commerce giant is down 4% even though the Chinese retail market is growing close to near pre-pandemic rates. However, investors are concerned the nature of the COVID-19 will slow global growth while simmering tensions between the U.S. and China represents a potential challenge with the possibility of delistings in the US.
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