Midterm Results: Nasdaq’s Final Washout?
Notas do episódio
The midterm results are in, the market has taken them in its stride, and the AI trade has been through a full washout. Is this the clearing event that sets up a bounce, or is there more pain to come?
In this episode of The Long & Short, Rich McDonald joins live from Rome as he and Piers Buckworth unpack what the midterm results mean for markets, why the AI trade has moved from overbought to oversold, and what earnings from Intel, AMD, Apple and Palantir are telling us.
They also explore Marvell's controversial bid for Lumentum, the stocks Piers is watching for a risk-on rally, and which of the big tech names came out of earnings season on top.
In this episode:
- What the midterm results mean for markets, and how much was already priced in
- Why uncertainty is a killer for markets, and what a clearing event looks like
- How hedge fund liquidations have washed out the AI trade
- What went wrong at Intel, and whether the sell-off is now an opportunity
- Why AMD is winning, and the AMD vs NVIDIA pair trade
- Why Apple looks expensive and Palantir is growing into its valuation
- The stocks Piers is watching for a risk-on rally, from IREN to ServiceNow
- Why consumer names like MGM and Crocs are rallying while AI struggles
- Marvell's bid for Lumentum, and why shareholders hated it
- The earnings verdict on Meta, Amazon, Google and Microsoft
📖 Chapters:
00:00 – Introduction: Live From Rome
01:12 – The Midterm Results & What the Market Had Priced In
05:40 – Certainty, Clearing Events & What a Lame Duck Means
08:28 – The AI Washout: Hedge Fund Liquidations & Free Cash Flow
10:40 – Intel: What Went Wrong & Is It Now an Opportunity?
15:20 – AMD vs Intel vs NVIDIA
19:04 – Apple: Too Far Ahead of Its Skis?
20:50 – Palantir: Growing Into Its Valuation
24:20 – The Risk-On Basket: IREN, ServiceNow, Meta & Small Caps
26:50 – Could the Nasdaq Fall Another 10%?
28:55 – MGM, Crocs & Why Rotations Matter
30:55 – Marvell & Lumentum: The M&A Deal Shareholders Hate
37:40 – Earnings Verdict: Meta, Amazon, Google & Microsoft
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