Did you know that Big Tech companies like Nvidia and Apple have cash reserves larger than the GDP of some small countries?

The financial strength of these companies allows them to weather economic downturns better than others, making them more resilient investments.

In today’s edition, our focus will be on these topics:

• Nvidia Obsession: First, we dive into how Wall Street's mixed feelings about Nvidia's stock reflect broader concerns about the economy 🖥️

• Nvidia CEO Jensen Huang Sold $580 Million Of Stock – How Much More He Can Sell: Next, we examine the recent stock sales by Nvidia's CEO 💰

• Think Twice Before Betting Against The Nasdaq And Big Tech: Finally, we analyze why betting against the Nasdaq and Big Tech might not be wise 🤔

Stay tuned as we unpack these insights, helping you navigate the world of stock trading and investment. Let’s go!

Nvidia Obsession 🖥️

Not everyone on Wall Street was betting on good news from Nvidia heading into earnings.

The stock took a hit earlier this month as fears of a possible recession—and the unwind of the Japanese carry trade—caused Big Tech to tumble.

Shares have regained most of those losses as more economic data has eased investor concerns.

But even though Nvidia has bounced back, not everyone’s feeling the love 💔

While Equity Long/Short hedge funds appear to have been overweight Nvidia earlier in the year, in particular Q1, they have been trimming since then and by July, their Nvidia exposure was rather low.

Active equity mutual fund managers also appear to have been underweight Nvidia.

Despite this, retail investors still like the stock 👍

The stock moved lower post earnings last evening, but buyers may well step in in the days ahead and send the stock back up once again.

Nvidia CEO Jensen Huang Sold $580 Million Of Stock – How Much More He Can Sell 💰

CEO Jensen Huang has sold millions of shares for more than half a billion dollars so far this year.

His trading plan provides for more stocks to sell, but it hasn’t executed any sales in weeks.

Huang has sold a total of 4.8 million in Nvidia shares or $580 million over nearly every trading day from June 14 through August 9 📅

The transactions were made through a so-called Rule 10b5-1 trading plan that Huang adopted in March.

The plan will sell up to 6 million shares through March 31, 2025, so Huang still has another 1.2 million Nvidia shares to go.

Trading plans automatically execute stock trades when preset conditions, such as price and volume, are met ✔️

They are intended to remove any advantage an insider may have from knowledge of material non-public information.

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Think Twice Before Betting Against The Nasdaq And Big Tech 🤔

Investors have understandably been on the edge of their seats.

A look at the big picture offers some reason to relax.

There is no getting around the fact that Nvidia’s results have ramifications far beyond what they could do to the chip maker’s share price 📊

The company’s enormous market capitalization—only Apple has a larger share in the S&P 500 as of yesterday’s close—plus the fact that big tech has been the driving force of the rally this year and last, mean that disappointing numbers or commentary from management would rattle stocks in general.

Although Nvidia has been nearly infallible in recent years, it is inevitable that at some point, the company will deliver a disappointing quarter 👎

Whether or not that happens soon, over the medium term it’s hard to find a better bet than tech.

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