Daily Brief United States: NVIDIA Corp, Micron Technology, Tesla , Anthropic, Copper, Confluent, VanEck Gold Miners ETF/USA, Simpson Manufacturing Co, Inc, Jabil Circuit, Visa and more

• Nvidia surpasses $3 trillion valuation, a first in semiconductor industry
• Company’s rapid growth raises concerns about stock market dynamics
• Debate on Nvidia’s dominance in AI computing and comparisons to past tech industry booms.

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• Data Centers — Traditional Data Center Recovery Starting; In Addition to HBM Demand, SSD Memory Seeing Strength for AI Applications
• PCs — Upcycle to Accelerate “Late CY2024E”, Driven by Windows 12 and End of Windows 10
• Mobile Devices — Moderate Growth in CY2024E; Potential for Smartphone Upgrade Cycle Acceleration

• Tesla Tops Storage: Tesla dominates North American battery storage (25% market share) as renewables rise, deploying a record 4,053 MWh in Q1 2024.
• Explosive Industry Growth: U.S. battery storage market projected for a staggering 30.5% CAGR until 2030, driven by clean energy transition.
• Forefront of Innovation: CATL revealed TENER, a mass-producible energy storage system with zero degradation for five years achieving 430Wh/L density. Innovation to continue fueling growth.

• Anthropic is releasing a new, highly intelligent and powerful model in the near future
• Developments in interpretability of AI models are progressing, allowing for greater understanding of decision-making processes
• Progress in understanding AI models is happening rapidly, but keeping pace with the complexity of new models remains a challenge

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• Top miners like BHP Group Ltd (BHP AU) and Teck Resources (TECK US) are signaling their long-term bullish copper intent through their recent corporate actions. 
• Copper may experience short periods of oversupply, but its long-term outlook makes it one of the best commodities we cover in terms of return potential. 
• Our best plays in the copper space are Southern Copper (SCCO US), Teck Resources (TECK US) and Freeport Mcmoran (FCX US)

• Confluent (CFLT) is an infrastructure software company offering managed data streaming and processing services
• The company went public in 2019 and has experienced a decrease in stock price, presenting a potential opportunity for rerating
• Confluent’s strong product story around Apache Flink and usage by companies like FedEx and Uber position it for future growth

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Author recommends buying a basket of gold miners via GDX
• Bullish on price of gold and miners, predicting period of out-performance
• Targeting GDX’s previous peaks in low $40’s and potential “parity” target of $45

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Simpson Manufacturing Company showcased mixed results in its First Quarter 2024 financial performance amidst a challenging housing market landscape particularly marked by variability in the U.S. and Europe.
• The company reported a modest year-over-year decline in net sales totaling $530.6 million.
• Despite increased sales volumes in North America, which rose by 8% due to a flat U.S. housing market, broad gains were offset by the timing and calculation of volume discounts connected with previous price reductions.

• Jabil recently disclosed its financial outcomes for the third quarter of the fiscal year 2024, delivering robust figures that reflect its strategic maneuvers and adjustment to changing market dynamics.
• The company posted revenues of approximately $6.8 billion, surpassing expectations by $265 million.
• This was aided by significant contributions from the connected devices and networking and storage sectors, which outperformed anticipations.

• We update Klarna’s and Stripe’s IPO valuations based on recent share transactions; Indian payments company Pine Labs is also reported to be looking to IPO
• Our 2Q24 recommended shares performance was very mixed, with it being a mainly challenging quarter for long investors in payment companies
• We retain Visa as a core holding and also keep PagSeguro and Shift4 as buys, replacing PayPal with European value play Nexi; we keep our sell rating on Affirm