February 23, 2025 - 19:09
As Nvidia prepares to announce its earnings, market strategist Mark Newton from Fundstrat Global Advisors shares his insights into the technology sector and Nvidia's pivotal role within it. He notes that the group of top-performing tech stocks, often referred to as the "Magnificent Seven," which includes Nvidia, Alphabet, Tesla, Microsoft, Amazon, Meta, and Apple, has recently experienced a decline in performance. Newton describes this shift as a transformation from the "Mag Seven" to the "Lag Seven" over the past few months.
Despite this downturn, Newton remains optimistic, predicting that these tech stocks are poised for a resurgence. He emphasizes the positive momentum seen in the industrial and financial sectors, highlighting strong performances from companies like Caterpillar, Deere, and JPMorgan. Newton advises investors to disregard many external factors that may currently seem impactful, suggesting that they will only matter if they start to directly influence the stock market. His insights provide a hopeful outlook for the tech industry as it navigates the current economic landscape.
