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VRA Letter: A “Uniquely Bullish” Setup for NVDA & Tech. Rich Ross latest. Innovation Equals Deflation. Housing. Bitcoin. URA. DWAC.

As we covered yesterday, expectations are high for the company as they significantly upgraded forward guidance after the company crushed Q1 earnings. Consensus estimates are now for revenue of $11.1 billion which would be a massiv ...

Posted On August 23, 20236 MIN Read
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Good Wednesday morning all,

Tyler here with you for today’s letter.

Futures are relatively flat this morning with all eyes on Nvidia earnings after the close today.

As we covered yesterday, expectations are high for the company as they significantly upgraded forward guidance after the company crushed Q1 earnings. Consensus estimates are now for revenue of $11.1 billion which would be a massive beat, up from $6.7 billion Y/Y. Estimates for EPS for the second quarter is $2.07, which would be a 305% increase over the second quarter of last year which came in at $.51.

Of course, the question remains, what if they miss?

In that case, the market (specifically tech) would likely test their lows from Friday. However, there is still a lot of support below the current levels, so we would not see that as a reason to sell. Instead, we would consider it a great buying opportunity and we would use the sell off to continue to add to our positions aggressively here.

We don’t expect t...

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