TMTB: PDD top line accel; INTC Chips funding; MU Bogeys; 3p Roundup (CVNA, Fintech); TSLA raises px's'; SPOT BAML raises #s; NFLX Keybanc bulls; SNOW CNBC interview; MBLY expands w VW

Good morning. QQQs are +30bps and SPY +10bps, sitting near ATHs. Yields are slightly down. Slow research morning today as all eyes on the Fed later today with most expecting Fed to keep dot plot at 3 in the March SEP. Got MU EPS and AVGO Investor meetings today as well.

Several notes on sell-side recapping Jensen’s talk with analysts yesterday reiterating bullish views (a couple PT raise). Nothing new that we didn’t cover yesterday, but key points they focus on is NVDA’s increasing lead/ROI advantage/30-40k pricing denting enthusiasm for other alternatives such as custom, merchant silicon/NVDA moving up the stack to sell enter rack with GB200/NVDA continuing to gain share of the $250B in annual server/networking spend. Blackwell chips unlikely to chip before 2025 but we will likely see builds begin in late Q3. All in all - hard not to come away impressed with NVDA after the last 2 days - what it means for the stock near-term is another debate.

Ok, now that everyone has their daily f…