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Notes from Friday’s webinar: 05/11/2018

In today's webinar we discussed the impact of the dollar on stock earnings, NVIDIA's (NVDA) surprising bitcoin-related news, and the whipsaw in biotech and pharma stocks following President Trump's announcement.

  • Play the recording here or by selecting the most recent webinar link below (hint: scroll towards the bottom of the page).
  • Learn how to use exchange-traded funds to diversify and balance your portfolio in our Investing for Beginners course (use the discount code "DailyMarkets20" for an extra 20% off).

Deep Dive on NVDA:
One of the stocks we got a lot of questions about on Friday was NVIDIA (NVDA), which had released earnings on Thursday afternoon after the market close. The report exceeded expectations (a small feat this season) but the stock wound up declining 2% on Friday anyway. From a technical and fundamental perspective, this may be more good news than bad.

NVDA's management disclosed that 9% of sales were derived from bitcoin miners, but that demand was likely to drop 65% over the next quarter. That means they will be missing $188MM from second quarter's top line - ouch! Despite this, investors were unwilling to sell the stock below support. Buyers stepped in on the strength of the company's GPU, Data Center, and emerging A.I. business. As you can see in the next chart, the stock held at long term support and could be poised for another extension to the upside.

 

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