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what's up everyone and welcome back to the stocks with mike and tom show we have some big things to cover today related to nvidia's earnings their revenue grew by 46 year-over-year and the stock is tanking in the after hours so tom what the heck is going on with nvidia yeah it's insane mike so they had a pretty good day overall but it once after hours hit man they started really flying down with this earnings report and you can see that they it pretty much says on cnbc they're falling with light guidance but across the board they beat on a lot of different things so they had a 1.36 eps versus a 1.29 expected their revenue came in beating as well at 8.29 billion versus 8.11 billion expected and in our popular news tab on our discord you can see here how there's a lot of great numbers here with nvidia so their gaming revenue is up 31 year-over-year beating those estimates their data center revenue is up 83 year over year and we actually looked up what that data center revenue was for you guys and it pretty much says here that their data center has to do with all types of stuff like ai performance computing accelerated computing stuff for autonomous driving and pretty much anything that deals with ai or cryptocurrency mining processors and all types of stuff like that so you know they're getting into a lot of stuff mike and they're beating on a lot of numbers especially year over year so it's great to see that the only thing that went down mike was their free cash flow that actually fell 13 year-over-year but overall the rest of their numbers were good the only thing that was bad was just that that guidance there so you can see that they see q2 revenue at 8.1 uh billion dollars versus that 8.4 billion estimates so they are missing on guidance which is why they're falling exactly so it's kind of crazy to think that nvidia beat the estimates on revenue so they brought in more money than everyone was expecting they profited more than everyone was expecting they are growing at an amazing pace but just like you said tom their revenue guidance missed so for this uh current quarter nvidia brought in around 8.29 billion dollars in revenue for the next quarter they expect to bring in um around 8.1 billion dollars in revenue but everyone was expecting them to bring in around 8.44 billion so it's pretty tough nvidia stock is struggling right now um tom how about we show off the dashboard really quickly just to uh see how nvidia is doing fundamentally we can see over the past couple years nvidia's revenue has been booming since 2016 nvidia had a revenue of 5 billion annually and as of 2022 it's all the way up to just under 27 billion dollars they are a profitable company they pay a small dividend and uh overall they're just in a booming industry yeah they really are you can see even just their uh their revenue quarter by quarter is also just consistently increasing they don't really have any big dips or anything like that it only looks like the only dip they had was back in 2020 there just momentarily but other than that they've been on a steady uptrend like you said they're in a great sector being the semiconductor industry of course they're also in the graphic computing industry of course which is great i know gpus have been exploding so that's great they also have 36 percent net profit margins which is actually pretty good so you know nvidia they're growing mike and i think that their stock will do pretty good over the longer haul here it's just in the shorter term i'm just curious to see how they're going to continue to do with missing on this guidance because i know intel's ceo also came out a couple a couple of weeks or a couple months ago and he said that they expect supply chain issues to hurt an intel all the way into 2024 so i'm curious to see how the supply chain will just continue to affect these semiconductors because it seems like that might end up dampening nvidia's growth here over the next year as we saw with that guidance miss yeah so overall nvidia isn't a great industry because of course like everything nowadays uses semiconductors in one way or another um especially everything to do with like cryptocurrency mining artificial intelligence gaming and a bunch of stuff like that so um if nvidia continues to fall it should be a great buying opportunity for the long term one other thing i wanted to point out is that nvidia is set to do a 15 billion dollar share buyback program which should uh benefit shareholders over the long term so they're gonna take 15 billion dollars and buy up their shares on the open market which should be great yeah that does sound pretty great mike you know if we ended up saying that some big player like michael bury or something was buying 15 billion dollars of the stock i'm sure people would go crazy so 15 billion dollars no matter who's buying it is definitely going to be a big deal and it looks like nvidia mike on the chart you know and after hours here they're down to like 158 now we can see that on this one minute chart they're kind of coming back up a little bit so i'm kind of curious to see where they're going to end up like we said some of these numbers were actually very good especially year over year so it's definitely getting volatile here mike and i'm seeing a pretty big support down here around 150 dollars so maybe if we keep falling down that might hold up is a good support obviously we hit 150 220 here as the low of after hours but 150 is a pretty big level i'm eyeing up mike and if we look at that max daily chart you know nvidia is getting pretty low we're back to levels that we were at back uh back in the middle of 2021 and man if we fall back below 150 we'll we'll run back down into that 130 range yeah crazy stuff so that's the main thing for nvidia for tomorrow uh the market has been crazy lately so keep it on your radar but tom what else do we have going on in the market yeah so the fed actually had the minutes come out today so as we know the fomc minutes pretty much covers what the feds talked about in the last fomc meeting and it just showed that the feds were going to continue to be hawkish and that we were going to continue to see more basis point rate hikes so they pretty much said that they're expecting multiple 50 basis point rate hikes here so that's going to be pretty big guys i mean you know i know that we've been expecting rate hikes but people haven't been necessarily expecting multiple 50 basis point jumps but it looks like that's kind of the pace that they're looking at going at here um overall though the market ended up jumping off this news mic you know spy did actually it held up pretty well today even towards the end we had a pretty big push up around 400 there so actually it was pretty good i know a lot of people always think that rate hikes are gonna make the market drop but you know as we know uh historically that's not really the case exactly like stocks can easily rise when interest rates are rising think about it this way guys it's better to have the economy slowing down and getting back to how it should be um even if it hurts a little bit in the short term then for the feds to just continue to print money and then for us to have hyperinflation that would be terrible so you know even though things are slowing down a little bit um we need again we need to get inflation under control so um the market clearly responded in a great way to uh the fomc minutes today so there we go uh tom i know that it has been a pretty eventful week so far in terms of economic data and events and like even some earnings but what other earnings do we have for the rest of the week yeah so it's actually not going to be anything too crazy compared to what we've had so far but tomorrow morning is going to be pretty big you know we have alibaba and baidu there so some big some pretty big china stocks actually to say the least and also macy's that might be pretty big for some retailers there a lot of those retailers have been kind of falling off lately so definitely be careful with them costco after hours is also going to be big for the retailers of course as we know like walmart target costco and a lot of other companies been taking some big hits so definitely watch costco and macy's tomorrow but mike my favorite is probably going to be alibaba of course you know those china stocks have been pretty crazy lately and i'm kind of hoping they can start to recover sometime soon right it's been uh quite a while since we saw a great uptrend out of alibaba baidu or any other stocks like them yeah it really is like look at this max daily chart here of baba like we've been really staying under this big blue trend line here and it's just been continually selling off and touching that trend line to the downside actually for almost two whole years now at this point so it looks like there is a bit of support forming around 75 and maybe like 80 dollars so who knows maybe we'll start to get a pop here but you know i'm not gonna be too optimistic mike these china stocks have definitely been uh been lackluster lately to say the least yep no doubt well tom do you have any favorite setups or anything you're watching for tomorrow yeah so the market actually had a really good day today like we said the spy was doing very well with the fomc minutes i know nvidia is gonna steal a lot of the headlines from today of course but a lot of the growth plays did very well um kind of recovering up here so ai was up like 6.3 percent we even had amc up 14 today ever since they were around 10 this week so it's kind of good to see them popping up mike i noticed that zoom was continuing up after their earnings here they did kind of fall back off there initially on on tuesday but now they ripped right back to the upside it actually looks like a pretty nice uptrend so you know these growth stocks are looking pretty hot here even pollen tier was up so pretty good day overall actually there we go so before we move on i just want to give a giant shout out to our member of the day huge shout out animistic uh in the youtube comments thank you so much for all the kind and supportive comments tom and i really appreciate you but tom let's get right into these momentum plays for tomorrow with the first one we have beyond meet to the upside yeah good old beyond here go ahead and make them break out above 26 30 tomorrow that that's actually pretty good resistance from last week as well right and what the next one we have asana also to the upside yeah they were up nine percent here hopefully moskovits can help make this stock go up some more mike but hopefully they can break above 20 dollars and 40 cents tomorrow right and with the last one we have netflix also to the upside yeah i'm glad to see them recovering up go ahead and make them break above 190.
all right so we are watching netflix asana and beyond meat for potential day trades to the upside tomorrow only if they break above the levels tom listed if you guys trade options definitely check out that first link in the description and the comments down below our bot had an amazing call out today with disney call options it alerted the 102 strike calls at 185 each and they popped all the way up to 242 dollars each it's an awesome pop um you're not going to find your bot anywhere else you can cancel at any time and if you want to try it out uh we have a coupon running so definitely check it out the link is in the description and the comments down below but tom i'm very excited for very excited for the end of the week a lot of stocks had some pretty good days especially like zoom uh beyond meat and even palantir like you said yeah these stocks were really ripping up it was a good day overall even some of the uh some of the safer plays or slower movers like target were kind of recovering after their big drops recently so even they were up like four percent even some of the airlines were coming back a little bit up like 3.7 percent so pretty good moves overall here i noticed the spy has done very well the past few days mike it's actually kind of holding its ground and i'm curious to see if maybe 380 to 385 might hold up is like a bit of a short-term resistance i will say there's been a bit of a channel with spy here on this daily chart and i'm kind of curious to see if maybe we'll start to break out of this back of back to the upside or not because as we know you know everything's been so volatile lately i just cannot wait to see a nice uptrend or just a nice a nice move either way you know even if we break this to the downside i hope it's just a nice consistent movement for once yeah very true so remember if you guys trade options definitely check out that first link in the description and the comments down below our bots awesome and you won't find it anywhere else besides that let's have a great rest of the week
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