One thing is crystal clear to me, NVIDIA has bounced incredibly well off its 2022 lows, to the tune of nearly 150%! What a trade...
I missed it.
In addition, check out the double bottom that I marked on the chart. In hindsight, it looks so obvious. It's important to use these long-term charts to learn and get better. Had you zoomed out, you may have seen this low from a mile away.
Next time...
But now it appears that NVIDIA is being talked about everywhere as it marches forward. This post is designed to explain why I think NVIDIA has too much resistance ahead - don't chase! But also why the market sees its potential.
Let's get to it:
Nevertheless, NVIDIA, thanks to the speed of its recent bounce, is now the 7th largest company on Earth. Will it pass Buffett and Berkshire Hathaway next?
The list looks like this:
Apple - $2.6 trillion
Microsoft - $2.1 trillion
Saudi Aramco - $2.1 trillion
Alphabet (Google) - $1.3 trillion
Amazon - $1.1 trillion
Berkshire Hathaway - $715.4 billion
NVIDIA - $685.5 billion
Tesla - $576.4 billion
Meta (Facebook) - $555.7 billion
Johnson & Johnson - $506.3 billion
As AI increases, machine learning, and their eventual integration into machines, NVIDIA remains poised to lead the way. And that's where I personally think the long-term story remains in tact. I am not looking at NVIDIA for a trade right now - the risk/reward makes little sense. But, long-term, if NVIDIA suffers another correction, I'll be ready.
Why?
The other day I joked that while ChatGPT and other AI online tools are cool, we have yet to see this integrated with anything physical. But that is not far away - a fridge that learns your habits about what you eat so it can place orders automatically or set your fridge to the perfect temperature. Or a lawn mower that learns to master your lawn after each attempted cut, turning your lawn into a flawless putting green that your neighbors marvel at. But this also where things can get a little crazy… like if the lawn mower starts to think you’re the putting green! 😝
I hope you enjoyed this free flowing chat and a few notes that I added to the chart.
Let me know what you think
I missed it.
In addition, check out the double bottom that I marked on the chart. In hindsight, it looks so obvious. It's important to use these long-term charts to learn and get better. Had you zoomed out, you may have seen this low from a mile away.
Next time...
But now it appears that NVIDIA is being talked about everywhere as it marches forward. This post is designed to explain why I think NVIDIA has too much resistance ahead - don't chase! But also why the market sees its potential.
Let's get to it:
Nevertheless, NVIDIA, thanks to the speed of its recent bounce, is now the 7th largest company on Earth. Will it pass Buffett and Berkshire Hathaway next?
The list looks like this:
Apple - $2.6 trillion
Microsoft - $2.1 trillion
Saudi Aramco - $2.1 trillion
Alphabet (Google) - $1.3 trillion
Amazon - $1.1 trillion
Berkshire Hathaway - $715.4 billion
NVIDIA - $685.5 billion
Tesla - $576.4 billion
Meta (Facebook) - $555.7 billion
Johnson & Johnson - $506.3 billion
As AI increases, machine learning, and their eventual integration into machines, NVIDIA remains poised to lead the way. And that's where I personally think the long-term story remains in tact. I am not looking at NVIDIA for a trade right now - the risk/reward makes little sense. But, long-term, if NVIDIA suffers another correction, I'll be ready.
Why?
The other day I joked that while ChatGPT and other AI online tools are cool, we have yet to see this integrated with anything physical. But that is not far away - a fridge that learns your habits about what you eat so it can place orders automatically or set your fridge to the perfect temperature. Or a lawn mower that learns to master your lawn after each attempted cut, turning your lawn into a flawless putting green that your neighbors marvel at. But this also where things can get a little crazy… like if the lawn mower starts to think you’re the putting green! 😝
I hope you enjoyed this free flowing chat and a few notes that I added to the chart.
Let me know what you think
I work at TradingView helping to build charts, tools, and software for everyone interested in financial markets.
Twitter: twitter.com/scheplick
Blog: scheplick.com/
Twitter: twitter.com/scheplick
Blog: scheplick.com/