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Feb 21 Stock Market Update - Nvidia earnings and guidance were good

Feb 21 Stock Market Update - Nvidia earnings and guidance were good

$URBN $WIX

Mukund Mohan
February 21, 2024

Market

"Nvidia announced earnings today with revenue at $22.1B +265% YoY vs $20.6 B estimated and EPS at $$5.16 +33% YoY, vs $4.64 estimates. Raised Q1 guidance to $24B vs $22B. 😘

Well that was anticlimactic

Still on a downward trajectory after a long run, so this is expected

Markets took another break, with NASDAQ down nearly 4% from its All time highs and SPY down nearly 1.2% from ATH. Still in a good spot.

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The technology sector took a break save Amazon

Nvidia is 10% off its highs - nearly $165 Billion lower in Market Cap, and Apple, and Microsoft still consolidating.

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