Not much was working for traders on Monday, but chip stocks were the exception, with Nvidia’s earnings looming later this week. It was followed by Super Micro Computer, Micron Technology, and Nvidia. Lam Research, Applied Materials, Advanced Micro Devices, KLA and Western Digital were all rallying.
Li Auto reports a 37% decline in first-quarter net profit, Norwegian Cruise Line raises its full-year earnings guidance, and Nvidia is the highlight of corporate earnings this week.
Ultimately, earnings drive share prices. Only two Magnificent Seven stocks, and a third megacap, meet this triple-25% growth standard.