Peter Ahl @Wealthbystrategy: "💲 𝙔𝙏𝘿 𝙋𝙚𝙧𝙛𝙤𝙧𝙢𝙖𝙣𝙘𝙚: 𝟵,𝟰% 📈 𝙋𝙚𝙧𝙛𝙤𝙧𝙢𝙖𝙣𝙘𝙚..."

Sweden

💲 𝙔𝙏𝘿 𝙋𝙚𝙧𝙛𝙤𝙧𝙢𝙖𝙣𝙘𝙚: 𝟵,𝟰% 📈 𝙋𝙚𝙧𝙛𝙤𝙧𝙢𝙖𝙣𝙘𝙚 𝟮𝟬𝟮𝟱: 𝟭𝟰,𝟱% 🚀 𝙋𝙚𝙧𝙛𝙤𝙧𝙢𝙖𝙣𝙘𝙚 𝟮𝟬𝟮𝟰: 𝟰𝟮,𝟭% Risk-score 4/10. ______________________________________________ 𝙒𝙚𝙚𝙠𝙡𝙮 𝙧𝙚𝙥𝙤𝙧𝙩 𝙈𝙖𝙮 𝟮𝟱-𝟮𝟵, 𝟮𝟬𝟮𝟲 👇 💹 𝙊𝙫𝙚𝙧𝙖𝙡𝙡 𝙈𝙖𝙧𝙠𝙚𝙩 𝙊𝙪𝙩𝙡𝙤𝙤𝙠 Markets enter the new week with a somewhat better tone after a period of volatility driven by inflation concerns, higher oil prices and geopolitical uncertainty. Last week showed again how quickly sentiment can shift when investors move between macro worries and renewed confidence in AI-related earnings growth. 𝙏𝙝𝙚 𝙗𝙧𝙤𝙖𝙙𝙚𝙧 𝙢𝙖𝙧𝙠𝙚𝙩 𝙨𝙩𝙞𝙡𝙡 𝙡𝙤𝙤𝙠𝙨 𝙘𝙤𝙣𝙨𝙩𝙧𝙪𝙘𝙩𝙞𝙫𝙚, 𝙗𝙪𝙩 𝙨𝙚𝙡𝙚𝙘𝙩𝙞𝙫𝙚. The strongest companies continue to be rewarded, while weaker guidance, margin pressure or slower growth are punished quickly. 📊 𝙋𝙖𝙨𝙩 𝙒𝙚𝙚𝙠'𝙨 𝙈𝙖𝙧𝙠𝙚𝙩 𝘼𝙘𝙩𝙞𝙫𝙞𝙩𝙮 U.S. equities recovered during the week after a short pullback, helped by renewed strength in technology and semiconductor stocks ahead of NVIDIA’s results. The Dow also reached a record high, while the S&P 500 extended its recent winning streak. At the same time, investors remained focused on oil prices, interest rates and inflation. 𝙃𝙤𝙥𝙚𝙨 𝙤𝙛 𝙧𝙚𝙙𝙪𝙘𝙚𝙙 𝙩𝙚𝙣𝙨𝙞𝙤𝙣𝙨 𝙖𝙧𝙤𝙪𝙣𝙙 𝙄𝙧𝙖𝙣 𝙖𝙣𝙙 𝙩𝙝𝙚 𝙎𝙩𝙧𝙖𝙞𝙩 𝙤𝙛 𝙃𝙤𝙧𝙢𝙪𝙯 helped oil move lower into the new week, which 𝙨𝙪𝙥𝙥𝙤𝙧𝙩𝙚𝙙 𝙧𝙞𝙨𝙠 𝙖𝙥𝙥𝙚𝙩𝙞𝙩𝙚. 💼 𝙋𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤 𝘼𝙘𝙩𝙞𝙫𝙞𝙩𝙮 The most important event for our portfolio last week was $NVDA (NVIDIA Corporation) ’s report. The company delivered another exceptional quarter, with revenue up 85% year over year and Data Center revenue up 92%. Margins also remained very strong, with non-GAAP gross margin around 75%. 𝙁𝙤𝙧 𝙢𝙚, 𝙩𝙝𝙞𝙨 𝙧𝙚𝙥𝙤𝙧𝙩 𝙨𝙩𝙧𝙚𝙣𝙜𝙩𝙝𝙚𝙣𝙚𝙙 𝙩𝙝𝙚 𝙞𝙣𝙫𝙚𝙨𝙩𝙢𝙚𝙣𝙩 𝙘𝙖𝙨𝙚. NVIDIA is not only growing extremely fast, it’s doing so with profitability that remains unusually high. I’m very positive on the company, and I still view the valuation as reasonable when measured against the current growth in revenue, earnings and margins. The main risk is not the business performance, but expectations and geopolitics, especially China-related export restrictions. $DECK (Deckers Outdoor Corp) also reported, but my view here is more cautious. Revenue growth was solid, helped by HOKA and international sales, and the company remains high quality with strong brands and a clean balance sheet. However, Q4 EPS declined year over year, domestic growth was almost flat, and guidance points to some margin pressure ahead. 𝙁𝙤𝙧 𝘿𝙚𝙘𝙠𝙚𝙧𝙨, 𝙩𝙝𝙚 𝙦𝙪𝙚𝙨𝙩𝙞𝙤𝙣 𝙞𝙨 𝙬𝙝𝙚𝙩𝙝𝙚𝙧 𝙜𝙧𝙤𝙬𝙩𝙝 𝙞𝙨 𝙨𝙩𝙧𝙤𝙣𝙜 𝙚𝙣𝙤𝙪𝙜𝙝 𝙩𝙤 𝙟𝙪𝙨𝙩𝙞𝙛𝙮 𝙘𝙤𝙣𝙩𝙞𝙣𝙪𝙚𝙙 𝙤𝙬𝙣𝙚𝙧𝙨𝙝𝙞𝙥. It’s still a good company, but I need to see whether HOKA can keep growing fast enough and whether margin pressure proves temporary. This could influence whether I keep, reduce or eventually exit the position. I also added to our position in $MU (Micron Technology, Inc.) after some pullback. AI demand continues to drive strong need for high-bandwidth memory and advanced DRAM, while supply remains tight. That supports pricing, margins and earnings visibility. In my view, 𝙈𝙞𝙘𝙧𝙤𝙣 𝙨𝙩𝙞𝙡𝙡 𝙤𝙛𝙛𝙚𝙧𝙨 𝙖𝙩𝙩𝙧𝙖𝙘𝙩𝙞𝙫𝙚 𝙚𝙭𝙥𝙤𝙨𝙪𝙧𝙚 𝙩𝙤 𝙩𝙝𝙚 𝘼𝙄 𝙞𝙣𝙛𝙧𝙖𝙨𝙩𝙧𝙪𝙘𝙩𝙪𝙧𝙚 𝙘𝙮𝙘𝙡𝙚 𝙖𝙩 𝙖 𝙫𝙖𝙡𝙪𝙖𝙩𝙞𝙤𝙣 𝙩𝙝𝙖𝙩 𝙧𝙚𝙢𝙖𝙞𝙣𝙨 𝙧𝙚𝙖𝙨𝙤𝙣𝙖𝙗𝙡𝙚 compared with expected earnings growth. 🔭 𝙏𝙝𝙚 𝙒𝙚𝙚𝙠 𝘼𝙝𝙚𝙖𝙙 This will be a shortened U.S. trading week due to Memorial Day today. 𝙄𝙣𝙫𝙚𝙨𝙩𝙤𝙧𝙨 𝙬𝙞𝙡𝙡 𝙛𝙤𝙘𝙪𝙨 𝙤𝙣 𝙞𝙣𝙛𝙡𝙖𝙩𝙞𝙤𝙣 𝙙𝙖𝙩𝙖, especially the PCE price index, as well as consumer confidence, housing data, GDP revisions and durable goods orders. 𝙀𝙖𝙧𝙣𝙞𝙣𝙜𝙨 𝙛𝙧𝙤𝙢 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙨𝙪𝙘𝙝 𝙖𝙨 $CRM (Salesforce Inc) , $MRVL (Marvell Technology Group Ltd) , $DELL (Dell Technologies Inc C) and Costco will also help investors judge whether AI investment, enterprise spending and consumer demand remain strong enough to support the market’s recent gains. 𝙒𝙞𝙨𝙝𝙞𝙣𝙜 𝙮𝙤𝙪 𝙖 𝙥𝙧𝙤𝙨𝙥𝙚𝙧𝙤𝙪𝙨 𝙩𝙧𝙖𝙙𝙞𝙣𝙜 𝙬𝙚𝙚𝙠 𝙖𝙝𝙚𝙖𝙙! 👍

Not investment advice. The author may have financial interests in the mentioned instruments.