Jensen Out: What is Nvidia Worth Without Him?
Shownotes
NVIDIA has fallen 25% amid uncertainty over its leadership and fresh questions over where its chips end up. Is this the moment to buy, or is there further to fall?
In this episode of The Long & Short, Rich McDonald in London and Piers Buckworth in New York unpack the NVIDIA sell-off, from a worst-case stress test of the numbers to how each of them is approaching a trade, ahead of a big week for NVIDIA earnings and the Anthropic IPO.
They also explore why the S&P 493 is now outgrowing the Mag 7, the case for and against gold, whether AI could be the next great disinflationary force, and the latest numbers from the neoclouds.
In this episode:
- Why NVIDIA has sold off, and how much bad news is already priced in
- Rich's worst-case stress test of NVIDIA's earnings and valuation
- When to buy NVIDIA, and a zero-cost options trade for the uncertainty
- How the CPI print stopped the market's rally in its tracks
- The catalysts to watch next week: NVIDIA earnings and the Anthropic IPO
- Can the S&P 500 hit 8,000 by Christmas?
- Why the S&P 493 is now outgrowing the Mag 7, and how to invest beyond Big Tech
- Gold: a crowded trade or a must-own?
- Real yields, the Fed and whether AI could be the new Amazon for inflation
- IREN, CoreWeave, Nebius and Oracle: the latest from the neoclouds
📖Chapters:
00:00 – Introduction: NVIDIA in the Spotlight
01:25 – How the NVIDIA Sell-Off Unfolded
04:35 – Singapore, China & the Questions Over NVIDIA's Sales
07:36 – Rich's Worst-Case Stress Test for NVIDIA
09:36 – When to Buy NVIDIA & the Upside Case
14:41 – A Zero-Cost Options Trade on NVIDIA
16:29 – The CPI Print & a Market That Can't Settle
18:34 – A Big Week Ahead: NVIDIA Earnings & the Anthropic IPO
20:08 – Can the S&P 500 Hit 8,000 by Christmas?
23:12 – The S&P 493 Overtakes the Mag 7
26:33 – Beyond the Mag 7: Equal Weight & Free Cash Flow
29:37 – Gold: Crowded Trade or Must-Own?
32:25 – Real Yields, the Fed & Is AI the New Amazon?
36:43 – Neoclouds: IREN, CoreWeave, Nebius & Oracle
41:01 – Apple, Oil, Yields, Bitcoin & the Dollar
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Rich McDonald:
🌐richonmarkets.com – Market commentary and a Substack newsletter three times a week.
📱 @richonmarkets on all social platforms.
Piers Buckworth:
🌐 apex-trading.co.uk – Trading insights, market analysis and professional trading education.
📱Instagram @apextradingdesk | TikTok & Substack @apexalphatrading | X @ApexTradingDesk | YouTube @ApexTradingChannel
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