00:00 Speaker A
AI powerhouse Nvidia surging to an all-time high, pushing that company’s market cap to about 3.77 trillion dollars. Now cements the company as one of the most valuable companies in the world. That stock grows about 4% to 15431. The record is only the latest milestone for the company has risen more than 60% off an April low. Recent earnings, strong sales were catalyst for bullish sentiment for the tech darling, but today’s gains Nvidia stands as the world’s largest stock. It was interesting, Mark, we were talking earlier the team at Loop Capital, they put out a note, maintain their buy, they took the target at 250 per Bloomberg. That’s a street high, and they told their clients, Nvidia remains essentially a monopoly for critical tech, and it has pricing and margin power. I’m curious though when you look at the charts of Nvidia, what do the technicals tell you?
01:22 Mark
Well, it’s a new all-time high. It’s very difficult to sell a stock like that. I mean, it’s up 28% in the last three months, and actually, that’s more than it’s been up in the last year. So people were called the stock peaked out last summer and went sideways for a period of time, and that’s a lot of these, you know, mag 7 fang stocks do, and then when they start to ascend again and break out to new highs, it generally pays to follow that move. And so, you know, my technical target is right around 165 and then 180. 250 for me would be aggressive, but I do sense that it can continue likely up into the month of August. Uh the fall might be a time when when generally market, you know, we might do we see some consolidation, but uh I don’t see it yet. I I see that Nvidia is able to power the semiconductor sector. Now we have great results out of Micron, of course, what we discussed earlier, and AMD, they’re all you know, surging in a way that really makes semis quite attractive here, and and I still love technology, so uh it’s right to stick with it.
03:15 Speaker A
All right, quite attractive. We’ll leave it there. Thank you, Mark.
