Wall Street’s attention this week will be squarely on Nvidia (NVDA), as the chipmaker gears up for its latest quarterly results. A key inflation gauge and another reading on economic growth will also grab some of the spotlight.
Nvidia (NVDA), the world’s largest publicly listed company by market cap, will announce fiscal second quarter results on Wednesday. Its reports have become market-moving events, and its blockbuster quarterly performances have spoiled investors. With the artificial intelligence trade back in play, Nvidia’s (NVDA) commentary on its AI chips and on China will be closely watched.
On the economic calendar, Thursday will see the first revision for second quarter gross domestic product (GDP) growth. And then on Friday, market participants will receive the July reading for the core personal consumption expenditures price index – widely seen as the Federal Reserve’s preferred inflation gauge.
Investing Group Spotlight
These days, it seems everyone, from Wall Street to Main Street, is singing the praises of artificial intelligence-themed investment opportunities. Andres Cardenal has been investing in AI from its infancy, and staying ahead of the technology curve seems to be built into his DNA. Through his Seeking Alpha Investing Group, The Data Driven Investor, Andres has beaten key tech benchmarks like Cathie Woods’ ARK Innovation ETF (ARKK) by a cumulative 78% going back to 2018. This is achieved via high-conviction, well-researched long-term growth ideas and disciplined risk management picked up during Andres’ 25 years working with hedge funds, family offices, and asset managers across the Americas.
Two of Andres’ current top ideas:
Alibaba (BABA) (Free write-up)
BABA’s AI products have delivered triple-digit Y/Y growth for seven consecutive quarters, the cloud business is accelerating, and the company is boosting performance in commerce and advertising by infusing AI into these segments. Nevertheless, investors seem to be missing the forest for the trees, with the stock trading at just 13.8x forward earnings estimates.
Micron (MU) (Free write-up)
While most of the focus in AI investing has been on large language models and the software side of the business, the most potent phase of the AI revolution will be robotics, as this means AI getting involved in the physical world. As robots require strong memory for tasks like object recognition and autonomous decision-making, MU is perfectly positioned to benefit. At just 9.6x forward earnings estimates, MU is simply too cheap to ignore.
These two ideas really only scratch the surface. The Data Driven Investor includes dozens of current recommendations across Andres’ Real Money Portfolios, clear entry and exit points, and disciplined risk management to help investors better weather market storms. Andres is currently offering a 20% discount for first-time subscribers. Learn More >>
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