Food, Glorious Food
Dripping Wet
In the spring of 1987, when I was a wet-behind-the-ears intern at Apple, I distinctly remember my boss complaining to a colleague. Apple had just announced their earnings, and both sales and profits were way above expectations. The stock, to their astonishment, went down instead of up. “What else do they want from us?” he asked rhetorically. Apple had been an absolute darling of Wall Street for the past few years, moving up hundreds of percent, and to them it just didn’t seem……………fair.
So, too, with Nvidia, which just announced their quarterly results and whose data simply blew everyone’s socks off. Revenue beat. Profits beat. Forward-looking projections were increased. It was just sunshine and unicorn farts as far as anyone could see or smell.
Kicking Glass, Taking Names
Anyone care to explain to me why, at a P/E of 80, Corning Glass (GLW) basically goes up every single day of the year except for Saturday and Sunday?
Nvidia Hot Take
This is going to be pretty quick, but I will be back later this afternoon to write more about Nvidia once some of the dust has settled.
After waiting and waiting for their report to come out (for some reason, they missed their traditional 4:20 announcement), the data finally hit, and it looks like the bulls love what they see.
Kenvue Short
As we await the NVDA results, here’s just a quick chart to consider for the near future: Kenvue (KVUE) which has retraced to resistance.
