It was Nvidia Day on Stocktwits, but overhang from Super Micro Computer delaying its annual report kept the bulls at bay. After hours, Nvidia delivered a double beat but failed to spark enough excitement to push the stock (and market) higher. Let’s see what you missed. 👀

Today's issue covers Nvidia’s latest numbers, Berkshire becoming a $1 trillion company, and Abercrombie flagging an “increasingly uncertain environment.” 📰

Here’s the S&P 500 heatmap. 3 of 11 sectors closed green, with financials (+0.25%) leading and technology (-1.38%) lagging.

And here are the closing prices: 

Most bullish/bearish symbols on Stocktwits at the close: 📈 $SABS, $NTNX, $VEEV, $MYPS, $RY 📉 $WALD, $SMCI, $MRVL, $AGIO, $NBIX*

*If you’re a business and want to access this data via our API, email us.

We’ll share more insights and analysis from our massive Nvidia day on the platform tomorrow, but for now, let’s quickly recap the biggest numbers and themes from today’s report. 👇

First, the company’s adjusted earnings per share of $0.68 on revenues of $30.04 billion topped the expected $0.64 and $28.70 billion. Additionally, it’s expecting $32.50 billion in current-quarter revenue, representing 80% YoY growth and beating the $31.70 billion anticipated by analysts.

After three straight periods of 200% YoY growth, clearly comps are getting a lot more difficult, with its sequential (QoQ) growth also slowing. With Nvidia’s data center business now accounting for 88% of total revenues, the importance of its next-generation AI chip, Blackwell, cannot be understated. 🔺

Nvidia's CFO said the company expects to ship several billions of dollars in Blackwell revenue, and CEO Jensen Huang added, “The change to the mask is complete. There were no functional changes necessary.”

On top of that, the company increased the size of its buyback program by $50 billion, adding to the current authorization of $7.50 billion. 💰

Despite the strong headline numbers and continued optimism from management, investors are questioning just how sustainable the recent artificial intelligence (AI) hype cycle can continue, especially since it remains unclear when the technology will contribute to company’s bottom lines. 🤷

Super Micro Computer’s troubles are also weighing on Nvidia, given it’s the company’s third-largest customer. SMCI dropped 20% after delaying its annual report just a day after Hindenburg Research published a short report questioning the company’s accounting practices.

Nvidia shares fell about 7% after the bell, though Stocktwits community sentiment remains in ‘bullish’ territory. We’ll have to wait and see how the stock reacts in the coming days, but for now, investors are a bit on edge. 😬

And speaking of AI, it’s worth noting OpenAI is in talks to raise additional funds at a valuation above $100 billion. Clearly the AI hype is still alive and well in the private markets. 🤯

Warren Buffett’s Berkshire Hathaway has joined the pantheon of stocks hitting this market cap milestone, but it is the first non-tech company. 👑

The company is known to have an old-economy focus as the owner of a railroad, insurance company, fast-food chain, and other “slow and steady” businesses vs. those like Amazon or Nvidia riding the tech wave higher.

Still, part of its success has been due to its willingness to branch out and gain exposure to other high-growth areas via its public equity portfolio, much of which has held a major position in Apple since 2016.

This exposure and strong operating environments for its core businesses have helped push it higher by nearly 30% in 2024 alone. 🤩

And the Stocktwits community appears to believe the stock has more gas left in the tank, with sentiment sitting in ‘extremely bullish territory.’ 🐂

And while we’re talking about Berkshire, it’s worth noting that Bank of America shares remain under pressure as Buffett continues to reduce his stake in the bank. Berkshire reportedly sold another $1 billion in Bank of America shares over the last week but still controls about 12% of the stock. 💸

Mall retail Abercrombie & Fitch has experienced a massive renaissance over the last two years, but traders and investors are worrying about its recent loss of momentum. 😨

The company’s earnings per share of $2.50 and revenue of $1.13 billion topped the $2.22 and $1.10 billion expected. Same-store sales rose 18% YoY, with summer and back-to-school shopping remaining strong. And it expects momentum to continue, forecasting low double-digit percentage growth, topping analyst expectations.

With that said, CEO Fran Horowitz, who often says good companies win in any economic environment, may have tipped her hand during the release. 🤔

“We delivered a strong first half of the year, and we are increasing our full-year outlook. Although we continue to operate in an increasingly uncertain environment, we remain steadfast in executing our global playbook and maintaining discipline over inventory and expenses,” said Horowitz.

That commentary sent shares tumbling 17% on the day and pushed Stocktwits sentiment into ‘bearish’ territory from yesterday’s ‘extremely bullish’ range. On top of that, investors and traders are pointing to the stock potentially making its first “lower high,” putting its uptrend in question. 😬

Economic data: GDP Second Estimate Q2 (8:30 am ET), Initial/Continuing Jobless Claims (8:30 am ET), Retail/Wholesale Inventories (8:30 am ET), Pending Home Sales (10:00 am ET), and Fed Bostic Speech (3:30 pm ET).

Pre-Market Earnings: Nordic American Tankers ($NAT), Campbell Soup ($CPB), Burlington Stores ($BURL), Ollie’s Bargain Outlet ($OLLI), American Eagle Outfitters ($AEO), Dollar General ($DG), and Best Buy ($BBY). 🛏️

After-Hour Earnings: Dell Technologies ($DELL), Marvel Technologies ($MRVL), Ulta Beauty ($ULTA), Lululemon ($LULU), and Gap ($GPS). 🎧

P.S. You can listen to all of these earnings calls and more straight from the Stocktwits app or website. You’ll find them on the calendar page and individual symbol pages once they’re set to begin! We’ll see you there. 👍

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🧑‍⚖️ Yelp sues Google for antitrust violations

🛒 Kroger executive admits company gouged prices above inflation

🤖 The controversial California AI bill that has divided the tech world

🔋 GM and Samsung finalize deal for a $3.5 billion EV battery plant in Indiana

📚 Leonard Riggio, who built Barnes & Noble into a bookselling empire, dies at 83

👨‍💼 Bickering hedge fund billionaires quit as co-CEOs of $60B Wall Street firm Two Sigma

🚫 New US rules try to make it harder for criminals to launder money by paying cash for homes

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