DAY. THE S&P 500 UP ABOUT 12 AND, AS I SAID, THE NASDAQ IS THE OUTPERFORMER NOBODY IS SURPRISED BY THAT. JOSH, WE COME TO YOU FIRST WE ALL KNOW THE STORY BY NOW OF WHAT HAPPENED WITH THE EARNINGS. 24 PRICE TARGET INCREASES AT LEAST TODAY. STACY RAS CON WITH US YESTERDAY AHEAD OF THE NUMBER. GOES TO 1,300. SIMILAR COMMENTARY FOLLOWING THE NUMBERS. OBVIOUSLY THIS WAS NOT PRICED IN >> I REWATCHED THE CLIP OF YOU, ME, STACY AND BRYN, WERE WE BULLISH ENOUGH WE WERE ALL, OH, MY, IT'S NVIDIA THEY KEEP DOING THIS GUIDING SALES TO 28 BILLION FOR THE NEXT QUARTER THAT'S UP ANOTHER 100% YEAR OVER YEAR THAT SHOULD HAVE BEEN SLOWED DOWN BY NOW, AND IT'S NOT. ANALYSTS WERE LOOKING FOR 26.6, SO IT'S A MEANINGFUL GUIDE AND APPARENTLY IT WAS ENOUGH THE 10 FOR 1 SPLIT IS THE THING I DON'T THINK A LOT OF PEOPLE EXPECTED I DON'T THINK THIS HAS ANYTHING TO DO WITH DOW JONES INCLUSION I SAW SOME PEOPLE SAYING THAT. VERY UNLIKELY THE COMMITTEE IS IN A RUSH TO ADD NVIDIA TO THE DOW 30 NOT SAYING THEY SHOULDN'T OR NEVER WILL THERE ARE A WHOLE HOST OF REASONS AND IT'S NOT UNTIL JUNE. ARE THERE SELLERS AHEAD OF THE SPLIT? YOU DON'T HAVE TO SEND ME EMAILS, I UNDERSTAND HOW SPLITS W WORK PEOPLE LOVE THEM THAT WAS THE SURPRISE HERE AND GOOD ENOUGH FOR A PRETTY BIG DAY, UP 100 POINTS THE BEST PERFORMER IN THE S&P 500. >> AT TIMES YOU HAVE USED LEVITATION IN THE STOCK TO TAKE SOME PROFITS >> YES, STUPID >> WELL, THAT'S MY QUESTION. >> I'M A PROFESSIONAL, I HAVE TO NO, IT'S NOT STUPID. >> WHAT ARE VIEWERS SUPPOSED TO DO TODAY WITH THE STOCK UP LIKE IT IS AND HITTING A NEW RECORD ARE YOU SUPPOSED TO TAKE SOME PROFITS? ARE YOU GOING TO BE DISAPPOINTED THAT YOU DID THE NEXT EARNINGS REPORT >> I DON'T THINK THERE'S A RIGHT ANSWER THAT FITS EVERYONE. I THINK A LOT OF THIS DEPENDS ON, FIRST OF ALL, ARE YOU A PROFESSIONAL OR ARE YOU RETAIL IF YOU'RE RETAIL, YOU HAVE NO ONE TO ANSWER T.OO. IF YOU'RE A PROFESSIONAL, YOU DO THE BUYING IN THE STOCK IS BECAUSE OF EXACTLY THAT. DIFFICULT TO TELL YOUR INVESTOR YOU'RE FOCUSED ON INNOVATION AND GROWTH STOCKS AND BEING UNDERWEIGHT NVIDIA THAT BUYING PRESSURE IS SOMETHING WE'VE WITNESSED AFTER EVERY EARNINGS REPORT SINCE THE END OF '22 THE OTHER THING I WOULD POINT OUT THAT'S REALLY IMPORTANT HERE, I'VE BEEN IN THE STOCK A LONG TIME AND HAVE RIDDEN IT DOWN 70% -- 70% DRAWDOWNS IN THE NAME, 50% DRAWDOWNS. NOT EVERYONE CAN DO THAT ESPECIALLY IF THEIR BENCHMARKED, ESPECIALLY IF THEY'RE ANSWERING TO LPs WHO ARE EXPECTING THEM TO HEDGE RISK, ET CETERA. IT'S A DIFFERENT ANSWER FOR DIFFERENT PEOPLE MY ANSWER, I'VE TAKEN OUT MY INITIAL INVESTMENT MULTIPLE TIMES OVER, SO IT ALMOST DOESN'T MATTER I DON'T FEEL THE URGENCY I HAVE TO RING THE REGISTER HERE. I'M FINE I'M STAYING WITH IT. I DO THINK THIS IS A DECADE LONG STORY UNFOLDING AHEAD OF US. >> WEISS, YOU'RE IN IT I MENTIONED RASCON OVER AT BERNSTEIN NOWHERE NEAR ITS PEAK. PIPER ON PAR WITH HIGH EXPECTATIONS MORGAN STANLEY, NO SIGNS OF SLOWING DOWN TD COWEN, NO FURTHER QUESTIONS, YOUR HONOR BARCLAYS, NO SLOWDOWN IN SIGHT IVES, GUIDANCE SHOULD BE HUNG IN THE LOUVRE WHAT DO YOU MAKE OF WHAT WE'RE SUPPOSED TO DO NOW >> NORMALLY WHEN YOU SEE THAT KIND OF EUPHORIA, IF YOU'RE A STUDENT OF HISTORY IT REMINDS YOU OF THE TULIP BULB EUPHORIA WE SAW, AND GUESS WHAT HAPPENED TO THAT. I DON'T THINK THAT'S THE CASE HERE D DESPITE THE MOVE, THERE'S A LOT OF MOMENTUM IN IT AS IN THE MARKET OVERALL IF YOU TAKE A LOOK IN THE NEXT 12 MONTHS EARNINGS RELATIVE TO THE UNIVERSE, WHICH THEY'RE IN, IT'S ACTUALLY NEAR THE LOWS OVER AN EXTENDED PERIOD OF TIME GOLDMAN PUT THAT CHART UP IN THEIR REPORT POST EARNINGS THAT SHOULD GIVE YOU SOME COMFORT. >> DO YOU MEAN THE VALUATION >> YEAH. YES, ON THE VALUATION BASED UPON THE NEXT 12 MONTHS A VERY EXPENSIVE STOCK AMD IS A MORE EXPENSIVE STOCK, SUBSTANTIALLY MORE THE FUNDAMENTALS ARE THERE WHAT SEPARATES THIS IS THAT THE CEO, JENSEN HUANG, KEEPS GOING TO WHERE THE CUP IT GOING TO BE RATHER THAN WHERE IT IS, SO OTHERS CATCHING UP, TRUE OF APPLE, OF MD AND SO MANY OTHERS SO I THINK YOU KEEP GOING. IT'S NOT A LARGE POSITION FOR ME I DID HAVE A LITTLE BIT DURING THE WEEK BUT STILL NOT LARGE I CONTINUE TO PLAY IN THE OTHERS, THE MEGA CAP, AND I THINK THAT'S WHERE YOU'VE GOT TO BE PARTICULARLY WITH DEBATE THAT SHOULD BE RAGING THAT'S BEING IGNORED RIGHT NOW IS THAT WILL THE ECONOMY CONTINUE TO WITHSTAND THIS TIGHT MONETARY CYCLE THAT'S GOING ON FOR AN EXTENDED PERIOD OF TIME. COMPLETELY MADE TO IGNORE THE FED MINUTES YESTERDAY WHICH TOOK THE MARKET DOWN. SO, LOOK, I STILL LIKE IT. I'M STILL THERE. I STILL THINK IT'S REASONABLY VALUED I'M COMFORTABLE WITH THE UNIFORM PRAISE I WOULD RATHER HAVE THAT THAN AWAY EARNINGS IN A QUARTER >> IF YOU'RE ONE OF THE BEST, YOU'RE ONE OF THE BEST CAN YOU PRAISE BRADY/MAHOMES ENOUGH THEY LIVE UP TO THE HYPE WHAT MORE DO YOU WANT? SO, LIZ, GOING IN WE ASKED THE QUESTION, THE IMPORTANCE OF THE MARKET OF NVIDIA, THE IMPORTANCE OF THE TECH TRADE, KIND OF A REFERENDUM MAYBE ON BOTH SINCE TECH HAS LED US BACK FROM THE APRIL BOTTOM UP 14.5%, THE BEST BY FAR GREEN LIGHT NOW FOR THIS TECH TRADE? >> CERTAINLY IN THE NEAR TERM A GREEN LIGHT. I THINK A LOT OF THE CONCERN WAS OVER WHETHER OR NOT REVENUES WOULD HIT THE MARK AND WHETHER REVENUE GUIDANCE WOULD BE AS ATTRACTIVE AS PEOPLE WANTED IT TO BE. AND WE KNOW THE REVENUE OF NVIDIA IS DEPENDENT ON A LOT OF THE OTHER TECH COMPANIES' ABILITY TO SPEND, AND THAT'S BEEN CLEAR THROUGHOUT THE YEAR SO FAR WHAT WE'VE HEARD FROM THE OTHER BIG TECH NAMES ABOUT WHAT THEY'RE PLANNING TO SPEND ON A.I. GOING THROUGH THE REST OF THE YEAR YOU GET THAT BENEFIT IN THE SEMICONDUCTOR SPACE. SO FAR SO GOOD I DO THINK AS THE YEAR MOVES ON, INVESTORS HAVE TO BE CAREFUL ABOUT RISK MANAGEMENT. THIS IS BACK TO WHAT WE WERE TALKING ABOUT WITH JOSH EARLIER IN THE SHOW. IF YOU'VE BEEN IN THE NAME A LONG TIME, YOU'RE PROBABLY QUITE OVERWEIGHT AT THIS POINT OR AT LEAST IT'S RUN UP MAKING SURE YOU'RE MANAGING YOUR RISK AND MANAGING YOUR EXPOSURE THE GOOD THING RIGHT NOW IS YOU HAVE YIELDS UP TODAY -- THE TEN YEAR UP ALMOST TEN BASIS POINTS. >> THE DATA TODAY WAS GOOD >> PMI DATA WAS GOOD YOU'RE SEEING RECOVERY IN GREEN SHOOTS BUT THESE STOCKS ARE NOT DOWN THEY'RE NOT PRESSURED BY
