With Nvidia’s (NVDA) earnings failing to drive markets the way investors had hoped, Commerce Street Capital CEO Dory Wiley joins Market Domination to share his market outlook and discuss how investors should position themselves within the Big Tech sector.
Wiley highlights the importance of Nvidia’s earnings: "Nvidia drives Mag 7, Mag 7 drives the market." He acknowledges that Nvidia "blew it out of the water" with its results. However, he notes that Big Tech has been "a weak spot in the market" despite Nvidia’s value proposition.
Despite the recent pressure on Big Tech and the "Magnificent 7," Wiley remains optimistic about these stocks’ long-term prospects: "[They] have fundamental reasons to keep growing and to keep driving the markets … If you under-allocate, you’re in big trouble."
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