Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi Team , would like to get your thoughts regarding TSLA , NIVDA. With TSLA approaching US $200 and NIVDA bounching off $400 with a low of $409 . Are these stocks still on your radar? and are we close to hitting the buy signal ? Cheers Craig
Hi Craig,
US “Big Tech” has certainly corrected over recent weeks with the NASDAQ 100 Index correcting almost 12% under the weight of rising bond yields and concerns around the conflict between Israel and Hamas. Obviously we have addressed your question in two halves:
NVIDIA (NVDA US) – we like the risk/reward toward this AI goliath in the $US390-400 region after the stocks 21% correction but we are conscious that this is a high beta/volatile stock, its next earnings report will be on Tuesday 11th of November after the US close.
Tesla (TSLA US) – similar to NVDA we the risk/reward toward this EV manufacturer around $US200 but we’re conscious that the medium trend is down after the shares traded above $US400 in mid-2021, its next earnings report will be received on Wednesday 24/1/2024 after the US close.
These are two very different companies but of the two we prefer NVIDIA at this stage of their respective cycles.
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