Beat the street: NVIDIA set to turbo charge markets and big tech; Moderna surprises
Investors brace for a relief rally after NVIDIA's revenue forecast tops estimates. NVIDIA's results likely to boost big tech stocks like Alphabet, Microsoft, Tesla, and Meta.
Moderna shares expected to rise on its results and the announcement of its RSV vaccine roadmap.
(AI Video Summary)
NVIDIA's earnings report exceeds expectations
In today's edition of "Beat the street", the host, Angeline Ong, talks about the latest news and data leading up to the Wall Street open. The main focus is on NVIDIA, which is expected to have a positive impact on big tech stocks like Alphabet, Microsoft, Tesla, and Meta. Ong shows us some stock market charts and points out that NVIDIA's stock has dropped a little bit before the cash rate opens.
She then discusses how NVIDIA's earnings report has been really good, exceeding expectations in terms of earnings per share and revenue. Their data center segment, which includes cloud and AI services, has grown a lot, making NVIDIA's market cap bigger than other chip makers like Taiwan Semiconductor, AMD, Intel, and ARM. Ong wonders how long this impressive growth for NVIDIA can continue before the market starts to slow down. Ong also talks about other chip companies like AMD and Intel, saying that the chip sector as a whole will contribute to the market gains.
Moderna shares on the rise
She then switches gears and talks about Moderna, a company in the drug sector that had a surprise profit for the fourth quarter and has a positive outlook for its experimental respiratory syncytial virus (RSV) shot. Moderna's stock price went up a lot after this news. Ong mentions that Moderna is putting a lot of hope into their cancer drugs, influenza drugs, and vaccines like RSV to make up for the decrease in revenue from covid-19.
Impact of the AT&T outage
Lastly, Ong briefly mentions a telecommunications outage that affected AT&T users in the US. Verizon's stock price went up a little bit during this time, while users of Verizon, T-Mobile, and US Cellular reported some minor disruptions.
The video ends by showing us the market charts again, which have an overall positive trend.
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