This week, we delve deep into the recent market performance highs and subsequent downturns amidst a backdrop of strong economic indicators. Barry Kite steps in for Bill Gunderson, providing a comprehensive analysis of fiscal conditions, from an outstanding GDP report to a keen look at the employment sector and its trends. Jeff Webster also joins the conversation, adding depth with updates on the latest GDP figures and economic comparisons across global markets. The episode invites listeners to explore the interplay between established giants like NVIDIA and burgeoning contenders in the AI chip market. Meanwhile, engaging anecdotes about Bill Gunderson’s
00:00:01 Introduction to Bill Gunderson and Market Overview
00:02:09 Labor Day Weekend Plans and Market Sentiment
00:38:51 Final Thoughts and Farewell for Labor Day
SPEAKER 03 :
He’s been seen on CNBC, the Fox News Channel, and the Fox Business Channel. His articles can be found on MarketWatch, Seeking Alpha, TheStreet.com, and many other places. He’s the author of the weekly Best Stocks Now newsletter and the inventor of the Best Stocks Now app. He’s president of Gunderson Capital Management. Here is professional money manager Bill Gunderson.
SPEAKER 02 :
Good morning and welcome to the Friday, August 29th edition of the Best Stocks Now show. I am Barry Kite, planer analyst here at Gundersen Capital Management, sitting in for Bill today. And it looks like we’re off to a bit of a slow start in the market. We’ve got, after all-time highs in the S&P 500 yesterday, topping 6,500. We’re now down to 6,455, that’s down 46 points or 0.72% at the moment. We’ve got the NASDAQ down 242 points, that’s down 1.17%. And we’ve got the Dow, I guess, leading the way, even though it’s in the red as well, down 236 points. It’s just over half a percent down. And we’ve got gold, the only thing green on my screen here at the moment, up $12. That’s 0.37% to $3,430. And gold continues its tear as of late. And we’ve got Bitcoin, kind of a negative day for risk assets, it looks like, down to $108,683. That’s down almost $4,000. Points today, that’s down 3.47%. But again, good morning and welcome to the Friday, August 29th edition of the Best Docs Now show. I’m your host, Barry Kite, filling in for Bill today, planter and analyst here at Gunderson Capital. And also, as usual, excited to have Jeff Webster joining me on the show today. Jeff’s advisor, vice president here at Gunderson Capital. And how’s it going, getting ramped up for Labor Day weekend, Jeff? We are.
SPEAKER 08 :
We are getting ready to head out west and spend a couple of days with family up in the Yellowstone area. I know Bill today is on his way to San Diego. He and his wife are going to be attending the funeral of a friend, I guess, on Sunday.
SPEAKER 02 :
Yeah.
SPEAKER 08 :
They’re heading out there.
SPEAKER 02 :
At the Del Mar racetrack. So it’s pretty interesting that, you know, I guess you’d call that, I was trying to figure out if it was going to be a funeral or a celebration of life if you’re doing it at the racetrack. But I know that somebody that they’ve… Had a relationship with for years, and I think they’re going to get a couple of Padres games in, too, while they’re out there. So, you know, well-deserved break there for them. And, of course, you know, today is the last trading day of August. We’re kind of leading us into Labor Day weekend. I guess summer’s officially over. We’ve got to put all our white back up or something in terms of after Labor Day. That’s right.
SPEAKER 08 :
No more white shoes, Barry. You have to put up your white bucks.
SPEAKER 02 :
Yeah, I don’t think me in white clothes don’t go very well. I tend to get some stuff on them here and there.
SPEAKER 08 :
Bill will have to hang up his… He’s got a good-looking seersucker suit that he’ll stow away until… until May of next year, I guess.
SPEAKER 02 :
Yeah, I guess he can get it. I guess if he takes it with him to the racetrack, it’ll still work for, you know, up until Monday. So a little fashion advice here this morning, too, on the Best Docs Now show. But, of course, you know, like I said, kind of expect the markets to be a bit sluggish today. Historically, you know, this is a kind of a time where, you know, tend to not have much volume and that’s why you know kind of the nasdaq down over one percent today isn’t isn’t you know very concerning to me when i look at it because you know likely volumes are going to be pretty low you get a lot of you know traders heading to the hamptons right uh trying to get there i guess using where their sears sucker one last time and That’s right. And so, of course, yesterday, obviously markets down today, but yesterday S&P closed at another all-time high. It was over 6,500. I don’t think that number has been hit before. So all three indices were actually up yesterday with the NASDAQ leading the way. Of course, we had the NVIDIA report after the close on Wednesday. So mostly a quiet week, just didn’t have much volume in the first three days of this week, waiting for that NVIDIA report. And then the NVIDIA report mostly came in line. I think what the stock was down maybe a little over half a percent yesterday. A lot of the ancillary AI companies actually benefited, seemed to get much more of a pop than NVIDIA did. But we’ll dive into those earnings a bit later in the show. Jeff’s got some stuff for us on the tech side. Of course, yesterday, like I said, the S&P passed the 6,500 mark. We had the NASDAQ up about a half a percent yesterday. S&P was up 0.3% and the Dow was up 0.1%. Looks like we still have a good bit of breath in the market it seems. We had 7 out of 11 S&P segments were up. And we got an interesting GDP report yesterday. It was revised higher to 3.3%. In terms of economic growth, still solid growth for the U.S. economy at 3.3%. Certainly, when you compare it to some of the numbers that we got out of Europe and Canada this morning, and we’ll dive into those a little bit later, but overall, you’re still continuing to see expansion on the economy side. Earnings have been good this earnings season, and you’ve got some data that will hit on that here. In a little while, in terms of the entire earnings season, I guess we can get close to putting a bow on it right now that NVIDIA reported.
SPEAKER 08 :
Yeah, I think 90% of the S&P 500 companies have reported as of today. So there’s a few more stragglers that will come in. Yeah, those retailers. For the most part. Yep. For the most part, we’re wrapped.
SPEAKER 02 :
Yeah, those retailers are interesting because they’ve got to do a lot of physical counts, counting inventory, right? And so they tend to be one of those late reporters. I always want to go back in time and figure out why NVIDIA tends to be as late as they are. Of course, nowadays, I guess we want to save the best for last, but it’s interesting to see how they – I need to go back and figure out how did they end up at the end of the list here at some point.
SPEAKER 08 :
Yep, yep. And to your point, those retailers typically, their fiscal year is staggered by a month.
SPEAKER 01 :
Oh, yeah.
SPEAKER 08 :
Most retailers are wrapping their fiscal year at the end of January. So to your point, they can do all their inventories and tally all their holiday sales and things of that nature. And so that’s why we see them as laggards as it relates to reporting.
SPEAKER 02 :
Yeah, and waiting for us to return all our stuff, I guess, that we want to, all the ugly ties and other things that we want to take back after the Christmas season.
SPEAKER 08 :
Or the white bucks that we got just for summer, Barry, and that we decided we don’t need them for the winter, right?
SPEAKER 02 :
Yeah, you got to keep them clean and keep them fresh so you can get those things back into circulation, right? Well, we had initial jobless claims yesterday. Like I said, from an economic standpoint, pretty strong GDP figures. Jobless claims actually fell this past week. They came in at 229,000 versus… 231k that was expected moving average is now around 228 as we kind of allude to more you know a good bit is you know you really got to see those jobless claims in that 300k range before you know you really get you know worried about uh about employment in the u.s and I do think it’s worth noting that continuing claims actually dropped. I’ve seen continuing claims kind of continue to be a little bit stubborn and continue to kind of rise a little bit. So it was nice to see that number go to 1.954. It was expected to be 1.97 million. So the fact is, when folks are losing their job, they’ve been kind of on the sidelines a little bit longer. than maybe we’ve seen in the last handful of years, particularly since COVID. And so that was another positive kind of reading yesterday in terms of the job figures. Of course, we got some housing data that Bill mentioned a little bit on the show yesterday. It was kind of a mixed bag there. We had the pending home sales came in weaker than expected in July. I think they were down about 0.4%. But on the other end, you actually had mortgage rates, and we’ve been talking about mortgage rates a good bit lately. Actually, they hit a 10-month low. So if you’re in the market for a mortgage, maybe timing’s getting a little better over time. It was a 30-year fixed rate average, 6.56%. And that’s compared to higher than a year ago. It was about 6.35%. But certainly… a lot lower than the 7% that we saw early this year. But we’re just getting started on this Labor Day, day before Labor Day edition of the Best Docs Now show. And Jeff and I will be right back. And welcome back here to the Friday, August 29th edition of the Best Docs Now show. Barry Kite, planer and analyst here at Gunderson Capital, taking the wheel for Bill today. And, of course, we’ve got Jeff Webster joining us on the show, advisor here at Gunderson Capital. And it looks like we’ve got the markets down a little bit off the lows from when we started the show. We’ve got NASDAQs down about just over 1%. We’ve got the S&P down about 0.68% and Dow down about 0.4%. Gold is still the only positive thing, at least on my screen in front here. But, yeah, I mean, what, we’ve got a couple weeks, I guess. We’ll be headed out to the Bay Area. I always think of the Led Zeppelin song, Going to California, hopping on the big jet. hopping on the big jet plane um but uh yeah staying at the santa clara marriott on i think that’s tuesday september 16th through thursday september 18th bill will of course be doing the workshop on tuesday evening edie is uh we talked to got an update from her yesterday she’s uh opened up thursday for appointments given some uh overwhelming demand so that’s always uh that’s always nice we’ve got uh you know i guess to get give this bill says given to give the people what they want so uh be sure to give ed a call to book you can give her a ring at 855-611-BEST that’s 855-611-2378 and uh looking forward to uh to getting out that way it should be uh um it’s a it’s part of that’s part of california i haven’t been to certainly been to san francisco kind of the oakland area and and you know a little more of northern california but uh haven’t i hadn’t made it over to made it to sacramento before but never made it over to uh kind of the i guess the the real heart of silicon valley and uh in the san jose area so a little tricky getting those flights over there yeah yeah it’s gonna be great uh you know i spent uh
SPEAKER 08 :
When I was with SAP, I spent a lot of time in that area. So it’s a terrific area. It’s vibrant with all the companies and things going on in the area. And I think we’re going to enjoy it as a team. We look forward to meeting with our strong following of listeners out there.
SPEAKER 02 :
Yeah, it’ll be interesting to see, too. I know Bill mentions as we’re driving by, you know, driving through the area, it’s like, you know, see all the names that we’ve, you know, held or hold in our portfolios across the way. So it’ll be, I don’t know, kind of it almost has a little bit of a sports theme to it in terms of, you know, seeing your players out there, as Bill always alludes to. you know, being a baseball team or a football team, having not just offense but defense on the field. And so, of course, we kick off, what, kick off some college football this weekend. So that will be a big start. We’ll see, you know, hopes and dreams of people’s teams will be either some will be made and lost on the first day. So we’ll see what happens. But certainly kind of a bit of a, A vibrant vibe around our household with three boys in the mix. Getting ramped up for that. So it should be pretty interesting. Looking forward to it.
SPEAKER 08 :
And you’re a Seminoles guy, right, Barry?
SPEAKER 02 :
Yes, I was actually born in Mobile, Alabama, so a lot of my family were certainly Alabama fans. So Florida State has the pleasure of playing Alabama with the first game of the year. I don’t know if that’s a great idea, but we’ll see what happens. It will be in Tallahassee and coming off of… Pretty much the worst year ever that I can remember for Florida State. So we’ll see how it kicks off. We started off with a loss last year, so we’ll see if we start off with one this year.
SPEAKER 08 :
And Bill, of course, is San Diego State Aztecs with Air Coriel.
SPEAKER 03 :
Yes.
SPEAKER 08 :
That’s where he got his whole concept of momentum and – You know, momentum investing is stuff like that. And, of course, my allegiance is with University of Southern California Trojans.
SPEAKER 02 :
Yeah, what we call around here in our household the real USC. No offense to University of South Carolina, which is only about an hour and 15 minutes from us. But, you know, growing up, the USC was always University of Southern California. So the Trojans, and they got a lot more trophies than South Carolina does here. Yeah. Yeah, it should be an interesting one. I certainly don’t follow it as much. I usually get surprised. It’s like I tell my kids they’re always reading off you. do you know so-and-so’s name or whatever? And I’m like, you know, I only know – first few games, I only know numbers. You know, it’s like, oh, I like number 11 or number – and then eventually it’s like, you know, they make a name for themselves and I end up knowing their name. But, yeah, early on it’s, well, you know, who’s number 55? And thankfully they know everyone now. So I use them as my – they’re my research when it comes to – When it comes to certainly college sports where you’ve got so much turnover nowadays, it’s hard to keep up from one place to the other.
SPEAKER 08 :
What’s the story with inflation out there right now, Barry?
SPEAKER 02 :
The interesting thing, we had PCE figures came in today. Of course, the PCE inflation index is the index that the Fed pays the most attention to when it comes to inflation. And Interesting enough, I thought it was going to be a story, and it’s a non-event. Everything came in. Literally every number came in as expected. On the inflation side, so we’ve got – so it didn’t – a report that tends to – can move the markets doesn’t at all. PC is an interesting report because you get all this other data, and then you can put that data into – it comes out first, and then you can put that into a model. And so the PC ends up being one of the best – I wouldn’t say easy, but one of the – come up with the best estimate, right? So estimates tend to not vary too much on the PCE side. So they were able to – apparently somebody’s spreadsheet crunched the numbers perfectly, and literally everything came in line there, which is why we haven’t seen certainly much movement yet. In the treasury markets today, I was looking at the treasuries, and nothing has moved more than 0.1%. Everything’s like three decimal places out. The 10-year, for example, I think it’s down. Maybe actually it’s up 0.025%. So that’s two and a half basis points, which… in bond world is not much of a move. The biggest news, really, I guess, is this, in terms of the Fed, and it’ll probably bleed into the next segment, but we’ve got, of course, the Trump administration. working to fire Lisa Cook. She had the mortgage application issues. I think that’s in front of a court as we speak right now, so it’ll be interesting if we get any information from that before the end of the show. But I’ve got my eye on it, and we’ll see what happens there. But we’re blazing through the first half of the Best Docs Now show, and we’ll be back for the third quarter.
SPEAKER 01 :
This is Bill Gunderson. Thank you for tuning in to today’s Best Stocks Now, Best Inverse Funds Now show. I put several hours of research in during the wee hours of the morning each day to bring you the very best cutting-edge stories that I can. To get two free weeks of my newsletter, go to GundersonCapital.com. To talk to us about our fee-based only money management services, call us at 855-611-BEST. Now, back to the second half of the show. Call out the instigator Because there’s something in the air
SPEAKER 02 :
And welcome back to the second half of the Friday, August 29th edition of the Best Docs Now show. I’m Barry Kite, planer and analyst here at Gunderson Capital, serving as relief captain for Bill this morning as he makes his way out to the West Coast. And we’ve also got, as usual, we’ve got Jeff Webster joining us on the show, advisor here at the firm and If you want to stay up to date with Bill’s thoughts on the markets, get Bill’s weekly newsletter. You can always go to GundersenCapital.com, sign up for that four-week trial where you’ll get kind of the whole shebang in terms of newsletters, some of the live trading alerts that Bill sends out. He just saw one. come across at the break in regards to Alibaba. B-A-B-A is the symbol there. Of course, they had some news where they’ve developed an AI chip to kind of help fill some of the void that NVIDIA is basically not… Not that they’re not allowed, but of course China has been asked their folks not to purchase H20 chips, which if I was a business leader in China, I’d probably listen, by the way. You don’t want to get disappeared like Jack Ma did.
SPEAKER 08 :
Did Alibaba, did they report Barry here today, this morning? I think maybe they did. I’m looking at something here that shows that they missed. slightly, but I think on this other news that you just mentioned, you know, they’ve got a nice uptick. But I’m just taking a peek here.
SPEAKER 02 :
Yeah, I saw, like I said, I saw his note. I saw that they were up around 10% earlier today. And, yeah, and it looks like, I mean, because they did report, it looks like they reported earnings. They kind of missed on revenue a little bit. I think they missed on earnings per share as well slightly. But I think that story where, you know, Alibaba – He’s going to develop a new AI chip to help fill NVIDIA’s absence or void in the Chinese market. Pretty interesting on that front. Like I said, that was one of Bill’s live trading emails that just popped into the mix here in the last 10 minutes when I looked at it at the break. If you’d like to get that, go to GundersenCapital.com or If you want to have a discussion with Jeff or myself regarding your portfolio allocation or planning situation, always feel free to give us a call at 855-611-BEST. That’s 855-611-2378. And ED will get you set up on our calendar. And always enjoy talking to folks and seeing how they’re positioned. Well, market-wise, finally down under 1% now for the NASDAQ. So numbers are getting slightly better each time we go to the break here. Like I said, kind of expected to be somewhat of a quiet day in terms of volumes. Not a quiet day, as we mentioned, and right now, I think as it’s going on, I didn’t see any new news, but it looks like you’ve got Lisa Cook hearing. She’s the Fed governor, as we all know by now. The administration’s fired. Is she fired? Is she not? We don’t know. She says she’s not leaving. Got to go to court today and figure out where I’m going on that and likely I’m going to end up in front of the Supreme Court at some point. So I’m not a legal expert, but that’s kind of the going rate. A bit of a distraction in my opinion. Yeah, I mean, you know, it’s one of those things where, you know, disclosure, right? I mean, our business is built on disclosure. Yep. The fact is, especially if you’re in a person and her situation and you have multiple mortgages, well, if you’ve got three houses, only one can qualify. I mean, by definition, only one qualifies as your primary residence. Yeah. Whether it’s, you know, she said clerical error. Also heard somebody today said there’s no harm in it, right? And I’m like, well, the harm is the fact that, you know, an interest rate, you know, that some bank is going to charge on a second home. is going to be a higher rate than someone’s going to charge on your primary residence. Someone was harmed in terms of she likely should have been paying a higher rate compared to whatever loan she got. Is it the worst thing in the world? I don’t know. But when you’re in that kind of position and you hear about disclosure all the time, then in my book it is something that you’ve put yourself in a position to where this could happen, put it that way. Going from removing one Fed member and adding another, it looks like the U.S. Senate is highly likely to confirm Stephen Mirren in time for the September 16th, 17th Fed meeting. He’s going to be replacing Kugler, who stepped down, I don’t know, probably about a month or two ago now. So that confirmation looks to be on track. The The interesting thing on Cook is she’s one of the more dovish members of the committee, so there’s a highly likelihood that she would vote towards reducing rates by a quarter percent at this next meeting. So it’s just kind of an interesting dynamic where the chances are that she may have actually voted for for a cut, but as we sit right now, we’ve got about an 85% probability the market’s pricing in a 25 basis point cut in September. And then the last piece of kind of Fed speak that we’ll cover today is we’ve heard from Fed Governor Christopher Waller yesterday. He had some remarks in a speech he was doing in Miami yesterday He seems to be, to me, he’s campaigning to replace Powell in May of 2026. He’s the one who kind of dissented at the last meeting. He had Bowman dissent as well, but Waller was certainly the one that’s been the most outspoken about it, and yesterday he mentioned the same thing. His quote was, let’s get on with it. He said, I felt this way in July, and and all of the evidence since then has led me to feel more strongly about it today. And so, you know, as you kind of, you know, he’s alluded to, you know, a handful of rate cuts really over kind of a three- to six-month period. So if you had to guess or put your odds on somebody who may end up being, you know, the next Fed chairman, Waller’s probably at the top of the list. He was also an appointee by then. Trump, I believe, during the first administration. Interesting. He’s been there a while. He’s a pretty sharp fellow. All those people in their own field are pretty sharp from an economic standpoint. I don’t know what they know outside of their own discipline, but inside their discipline, they’re pretty…
SPEAKER 08 :
They’re pretty locked in, but… So, yeah, yeah, it’s super crazy. Barry, so as we talk about probabilities and percentages, I mean, it’s interesting. With earnings season winding down, 81% to 84%, depending on the organization reporting on it, 81% to 84% of the S&P 500 companies beat… met or beat their earnings expectations. So you have FactSet, Zacks, Business Insider, Financial Times, all reporting. So their numbers vary slightly. Depending on their estimates. Yep, yep, that’s really good. Conversely, NASDAQ, the NASDAQ 158th of the companies exceeded both revenue and earnings expectations. So a little bit lower. But what’s interesting, Barry, is that the beats were really strong. The average amount of exceeded earnings was 10.2% and 2.6% on revenues. So, I mean, it all goes to this philosophy of, you know, what are the best stocks now? Do I invest in an index that is all 100, or do I identify, you know, who are, you know, those 58 companies that are exceeding their expectations and that have better than average, you know, earnings and revenues? So, again, I love some of the tools that we provide out there with Best Stocks Now, Bill’s Newsletter. These are all wonderful tools that can guide individuals and folks to making wise decisions as to who they should select.
SPEAKER 02 :
Yeah, and when you say that 10.2% exceeded the companies that did exceed their expectations, that flows right into next quarter potential earnings growth. And as Bill’s mantra is, stock prices follow earnings. From that sense, we’ve got kind of set up well for Q3 and the remainder of the year in terms of fiscal year. Lots of good earnings. We’ve got a few things to talk about on the technology companies that were reported. We’ll be right back.
SPEAKER 05 :
Go where you want to go, do what you want to do, and live to ever do.
SPEAKER 02 :
And welcome back to the final segment of today’s August 29th edition of the Best Docs Now show. I am Barry Kite, planner analyst here at Gunderson Capital, wrapping things up for Bill this week. And we’ve got Jeff Webster joining me on the show. He’s going to get into a few of these tech earnings that we had this week in a minute. Also, as we said earlier, if we’re going to be out, at the Santa Clara Marriott around San Jose in the Bay Area. We’ll be there on Tuesday the 16th, Wednesday the 17th, and Thursday the 18th. And feel free to give Edie a ring. She’ll get you set up. She’s the queen of the schedule. 855-611-BEST. That’s 855-611-2378. And Bill will be doing one of his workshops, too, on Tuesday evening. So you get to kind of pick his brain. And whatever’s in his head, he lays it out on the table. Right, Jeff? Yeah. That’s right. That’s right. I’m sure we’ll have an Eric Correal reference in the mix.
SPEAKER 08 :
A horse analogy and probably a Padre analogy. a euphemism or two, right?
SPEAKER 02 :
Yeah, you’ll get the whole gambit of sports-related experiences that kind of have shaped Bill’s investment philosophy over the years. I will tell you, I saw it concerning, talking about earnings, I just happened to see this as we were, I think a couple came out around 10.30 this morning, but while we were in And I’m breaking the show. Super microcomputers got a dip in pretty – I think they’re down close to 5% at the moment. They – they’ve had those concerns about their financial numbers. Remember they fired an auditor? Yeah, they fired an accounting auditor a while back. When you see these names, when you see these kind of comments, it makes me a little scared. It says it hampers their controls and financial disclosures hamper their ability to report results. in a timely and accurate manner. Timely is one thing. Accurate is an even worse thing. Yeah, yeah. They mentioned that we have identified material weaknesses in our internal control over financial reporting, which could, if not remediated, adversely affect our ability to report our financial condition and results of operations in a timely and accurate manner. I mean, my only thought is you need to remediate it. I mean, it’s been a while. I mean, what’s the issue? Are you covering up something? I mean, it’s not like – I mean, it can’t be a software issue that’s lasted this long. I don’t know. It’s just when you see these –
SPEAKER 08 :
You know, report on that statement.
SPEAKER 02 :
Not good.
SPEAKER 08 :
Not good.
SPEAKER 02 :
Or the investor relations people, right? I mean, those, you know, they’re probably getting calls over and over again. I don’t know. It’s just when I see that, I see that kind of stuff and red flags go off, you know, left and right, which is why. The stock’s down 5%. Of course, we had Marvell report as well. They’re pretty much getting hammered. To me, that’s one of these earnings games where should they be getting hit as much as they were? Look through their earnings, Jeff. They’re down 17% today. Essentially, most of their stuff basically came in line. If I’m not mistaken, their earnings came in exactly in line.
SPEAKER 08 :
They projected $2.06 billion, and the analysts were looking for $2.11 billion, so a little short there. Again, I think they’re getting hurt on their outlook. Yeah. You know, they basically are a little squeamish on their output, their outlook. They’re also seeing some significant competitive pressures in that AR market space. You know, from Amazon to, you know, there’s a Taiwanese rival chip company called A1Chip. that, uh, is a substantial competitive threat to them. And I think those are the elements that, uh, you know, are hurting them on the bright side. You know, we, we, you know, everything, uh, gets a little overshadowed on reporting day for NVIDIA, but we had, uh, a couple of companies that, uh, were keen on, um, with a CrowdStrike and Snowflake, uh, reporting, uh, CrowdStrike, uh, You know, they beat their estimates. You know, their revenue was slightly above their consensus, their annual recurring revenue. Barry, when we talk about annual recurring revenue, this is a revenue stream that, you know, they sign these contracts, and this is, you know, momentum that you build on that recurring revenue that’s coming in. So it grew 20% year over year to $4.66 billion. You know, there’s a metric that you have to take into account that’s retention, but a good percentage of that is, you know, money that’s going to, you know, carry forward into, you know, subsequent quarters and years. So they did well there. I think, again, a little squeamish on guidance and that potentially, you know, Hurt them a little bit. On the other hand, Snowflake, man, they just bombed it. They killed. Yeah, it was outstanding. They announced earnings per share of $0.35, well above the estimate of $0.27. Their revenue was approximately $1.1 billion, beating expectations of $1.9 billion. They raised their Q3 revenue guidance, you know, so that shows well. And they upgraded their full-year product revenue outlook to $4.4 billion when they originally were looking at $4.33 billion.
SPEAKER 02 :
Yeah, and their sequential revenue was the largest sequential revenue they’ve had in history, so. I think it was up 94 million quarter over quarter. So certainly, you know, although NVIDIA was fairly quiet yesterday, down about a half a percent, as Bill said in his note yesterday afternoon, it really drove the rest of the AI market yesterday and gave them a boost. Well, we’re wrapped up for the week here at Gunderson Capital. We wish everyone a great Labor Day weekend. If you’ve got any questions, want to give us a ring, 855-611-BEST, or you can go to GundersonCapital.com. But have a great, safe Labor Day weekend, everyone.
SPEAKER 04 :
This show is not a solicitation to buy or sell any securities. Bill Gunderson or clients of Gunderson Capital Management may have long or short positions in stocks mentioned during the show. Past performance is not indicative of future performance. Gunderson Capital Management is a fee-based registered investment advisory firm. All accounts are held at Charles Schwab. Schwab is a member of SIBC and FINRA.
