The headline this morning couldn’t be plainer: “Nvidia (NVDA) tops Apple (AAPL) with the largest stock buyback in US history.” Thus, the company made famous for trillions of dollars of circular financing deals is now circle-jerking itself, in a desperate attempt to keep the party going.
Let’s look at the daily chart to drink in the results of this Biggest Ever move:
So………..
Lifetime highs unbroken
Over four months have passed since the last high
In spite of this gargantuan purchase happening, NVDA is up only about 2% and the semiconductor fund as a whole, SMH, is down on the day.
So, Jensen…………..what else ya got?
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