Hey, Ross here:
Let today’s chart show you what a market leader looks like.
Chart of the Day
That’s the entire NASDAQ 100 jumping by 1% on the back of Nvidia’s latest earnings report.
In case you haven’t heard, on a year-over-year basis, Nvidia reported:
- A 171% increase in revenue
- A 422% increase in net income
- An increase in gross margins from 46% to 71%
And for the third quarter of the year, Nvidia expects it to deliver another 170% increase in revenue compared to the year before.
These are incredible results. And they prove that AI is not hype – but will likely continue to be the biggest driver of tech for the near future.
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Insight of the Day
It’s critical to observe the market leaders because they’re a leading indicator of the broader market.
I’ve made this point before, but it’s worth repeating.
The reason it’s so important to be able to identify and observe market leaders is that they can tell you where the entire market is headed.
Nvidia is clearly the dominant market leader right now. If it rolls over – run.
But its price surge also tells me that the bulls are still very much in play.
We may still be in a pullback right now. But when they feel the time is right, the next big uptrend will begin.
Ross Givens
Editor, Stock Surge Daily
P.S. If you’re interested to find out more about my most profitable strategy during pullbacks – one that’s led to multiple 100+% gains this year – just click here.
