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welcome back to the watch list I'm Nicole petalides live on the floor of the New York Stock Exchange thanks for being with us Nvidia oh my goodness right it's up over 220 percent one of the huge growth names of 2023 our next guest has this stock and says plenty of room to run here Jim Warden CIO wealth Consulting Group joins me now and you know some people are saying oh don't believe the hype it already ran up take your profits and others still save 600 I mean what do you see I think there's still a lot of room to grow for NVIDIA uh you know the proof is really in the pudding Nicole it's good to be with you again um I think that you have to look at the fundamentals we I like to look at the technicals I spent a lot of time on technicals but I'm also a CFA Charter holder and I look at the fundamentals and I I look at what the sell side is is looking at and I was on the conference call uh with Nvidia and I mean it's it's incredible 171 percent uh growth year over year and revenue for Data Center and 141 of That growth was just from quarter to quarter so I I think that uh it is a real story it is a real uh thing that is happening that data centers are upgrading they're going through this upgrading cycle it's a trillion dollars in upgrades and and this is probably going to happen over the next three to five years but what about some of the other names in the group is this an Nvidia story exactly or are there other names that are related that the trends could help them I think I think this is this this is the tide that's going to lift some other boats uh the jury is still really out in terms of which of those other names are really going to benefit uh from it I still like Hardware I like you know AMD I think AMD is actually uh positioned a little bit better than Intel is currently uh I like some of the Partnerships that Nvidia has with Oracle I I like some of the other players that are purchasing from Nvidia so uh you get Amazon you get Google and Microsoft obviously is is benefiting from the the big push here in AI also would you say we're in I mean are you bullish on the market yeah I'm bullish and and like I was listening to your last guest uh I I agree that uh we we are kind of in this seasonal slowness uh this period with August and September is usually not that great but trying to look more long-term I've actually done statistics going all the way back to 1928.
when the market is up 20 through the end of July 100 of the time we've closed the year higher so I think that bodes well on average we've we've actually added another nine and a half percent roughly to what we did through July and so I like what I'm seeing here there has been some weakness uh with the pullback but uh with seeing the economic reports come in a little softer I think is good news uh that looks like the FED fund's Futures are coming down uh participation's increasing and and I like the sectors that are starting to participate more now what kind of sectors do you think those would be I mean you mentioned Tech right what else would you say yeah so we still like technology we still like communication services and consumer discretionary but financials is looking better Industrials is looking better materials real estate so we're getting a a broader participation now the relative strength isn't quite there yet but the momentum is improving and so that's the first thing that turns is the momentum then we see the relative strength pick up and so those are some of the things that I'm looking at uh I'm also seeing that the breath is starting to improve again uh with with over the last week or so we've we've seen the the 10-year treasury yield drop by 25 basis points the dollar weekend so that that helps also okay that being said are you concerned about the higher rate environment I mean we had a lot of regional banks with commercial real estate exposure you sort of talked about those being intertwined and some concern there yeah I unfortunately I just don't think the problem is going to go away with some of this commercial real estate some of the smaller Regional Banks uh it does lighten up it does ease a little bit if rates come down if the longer term rates come down uh those losses may not be as bad uh you know for for those banks that had long duration portfolios and it wasn't a credit problem it was just a it was just an interest rate problem having too much duration right understood all right we'll leave it there Jim Warden CIO the wealth Consulting Group thank you so much great to see you appreciate it
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