Good afternoon - getting this shortened version out a little early given have to run out before the close. QQQs were down close to 1% early, but ripped back along with NVDA, which was down 3% and now +2%. Jensen sounded good on the analyst call (although nothing new) stressing that is making markets rather than stealing share, implying their sw/services stack combo is significantly ahead of competition. He said hopper demand isn’t expected to change because of Blackwell releases and continues to expect some supply constraints as Blackwell chips ramp (ASP $~30-40k for lowest tier, which is in line with expectations; bullish read would be more units at expense of ASP). AMD -4% as comparatively looking worse competitively.
In internet, Z +2% as Citi and RBC defended post the NAR settlement. ROKU/TTD +2% as Cleveland called out better Q1 CTV trends. ETSY +1.5% on better M-sci data. TheInformation also had an article out saying that Temu wants to lessen their reliance on US Shoppers:
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