Nvidia’s (NVDA) $3 trillion industry valuation has raised questions about its broader impact on the stock industry. Principal Asset Management chief global strategist Seema Shah joins the Morning Brief to offer her insights on this development.
While acknowledging that markets heavily influenced by a single name or sector can be vulnerable, Shah notes a positive trend emerging from the recent earnings season: earnings expansion “across various sectors.” This diversification of expansion drivers is seen as a positive sign for industry stability and suggests a potential broadening of the rally.
Addressing the sustainability of positive industry momentum, Shah told Yahoo financial, “When we’re looking at earnings expectations for the remainder of 2024 and into 2025, the key thing that we’re looking for is this continuation in economic expansion.”
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