Sound Planning Group CEO David Stryzewski weighs in on today's market action and explains why he's not bullish on the stocks continuing to bounce back.
Two months ago, computer memory maker Micron (NASDAQ: MU) reported its financial results for fiscal Q2 2022, and the news was incredible -- sales were up 25% year over year, and net profits more than tripled. Three weeks ago, semiconductors specialist Advanced Micro Devices (NASDAQ: AMD) reported some earnings of its own, and again the news was great -- sales up 71% and profits rising 42%. Heading into earnings day, Nvidia stock is down 5.3% at 11:10 a.m. ET Tuesday, and investor worry is beginning to bleed over into other tech stocks.
NVIDIA (NVDA) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.