Reported 4 months ago
Seasoned Wall Street investor Ed Yardeni has rebranded the 'Magnificent Seven' giants as the 'Magnificent One,' singling out Nvidia Corp. as the driving force behind this year's market gains. With Nvidia rallying 115% year-to-date, outperforming top companies like Meta Platforms Inc. and the S&P 500 index, Yardeni attributes this success to Nvidia's leading position in the AI sector. Despite noting possible risks due to heavy capital expenditures, Yardeni remains optimistic about Nvidia’s future performance. His 'Roaring 2020s scenario' foresees exponential growth in S&P 500 earnings, GDP, productivity, and profit margins, with projections of the Dow Jones Industrial Average hitting 60,000 points and the S&P 500 reaching 8,000 by 2030 if this scenario unfolds.
Source: YAHOO