“Round one winners from new tech demand like data centers, hyperscalers, and chip makers are well-owned already. Further investments in those beneficiaries should be made contingent on a realistic path to expand the power supply. In other words, the big new digital darlings can still win, but the ruddy old real world may have to win first.”

 “Nvidia will be the stock that doesn’t make it as boring as it has been on this rally because when utilities are leading and financials are leading, they’re not headline makers. Nvidia is a headline maker, so I can’t wait to see how the market reacts to that.”

 “I anticipate the chipmaker will beat revenue expectations by $1.5 billion to $2 billion in its upcoming report... Over the last three quarters, Nvidia’s top-line beat by $1.9 billion on average.”

 “Strong guidance has the potential not only to lift Nvidia but also the broader AI trade as software names take more of a backseat lately. That’s a fresh catalyst for that theme.”

 “If they Nvidia can continue to exceed expectations, I think that does a lot towards driving sentiment higher... Conversely, if they give a bad forecast or disappointing earnings result... positive sentiment could reverse.”