“Nvidia is the number one company right now. The market cap is in the trillions of dollars and it’s bigger now than Apple and Microsoft.” – 03:50
Gabriela Berrospi, CEO & Founder of Latino Wall Street, joins Remy Blaire to discuss the current state of the U.S. stock market, which opens lower on a Monday morning with major stock averages down slightly over 0.1%. The conversation reflects on the recent rally that took place on Friday, where the Dow closed at a record high following dovish comments made by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Symposium. Powell’s monetary stance appears to prioritize stimulating economic growth and maximizing employment over controlling inflation, a shift that has significant implications for investors.
Gabriela highlights the fluctuating probabilities regarding a potential rate cut on September 17th, which had been projected at over 90%. Gabby emphasizes that Powell’s clear indication of a possible rate cut was surprising, especially given his previous tone and the ongoing tension with the administration.
Gabriela expresses her expectations for NVIDIA, which has demonstrated remarkable growth year over year and quarter over quarter, consistently exceeding market expectations. She discusses NVIDIA’s impressive market capitalization, which has now surpassed that of tech giants like Apple and Microsoft.
However, Gabriela also raises concerns about a recent agreement between NVIDIA and the government regarding a percentage of sales from China, which could potentially impact the company’s bottom line. With approximately 20% of NVIDIA’s chip sales coming from China, she questions whether the benefits received from the government will outweigh the financial implications of this agreement.