When fantastic is not enough… | MarketTalk: What’s up today? | Swissquote

Show notes

Nvidia generated a record $30bn in sales in Q2 – up by 122%, the profits surged 166% to $16.6bn, the company said that they expect to sell $32.5bn in the current quarter (more than $31.9bn expected by analysts) and announced a $50bn share buyback program. It could hardly do better. But investors focused on Blackwell delay & rising competition.
Elsewhere, Super Micro Computer dived another 20% yesterday after announcing that they will delay filing its annual financial disclosures – a day after Hindenburg threw mud on the company saying that they had ‘glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control failures and customer issues’. The delaying of the report naturally raises the odds that they might be right.
All in all, mood in the Big Tech is not great this morning. But the British and European futures seem little affected by Nvidia news. The futures point at a positive start this morning, and the waning appetite in Big Tech could cause more rotation toward the non-tech sectors as the Fed is on course to start cutting its interest rates in a couple of weeks.
Eyes are on the US GDP update & Eurozone CPI figures for the next two sessions.
Listen to find out more!