OM DENNE EPISODE
Rob Luna calls Thursday's tech-centric sell-off a "delayed reaction" to a Democratic victory in both the House and Senate following midterm elections. His reason for the bearish price action? Raised expectations for companies in the AI trade to deliver and outperform. As Rob clarifies, the AI trade isn't over, "it's just going to be a lot more selective." He still believes Nvidia (NVDA) is a solid investment as the stock trades at a forward valuation below the S&P 500 (SPX). Rob has trepidation if the Big Tech giant sees a notable decline in guidance or margins. He believes Rocket Lab (RKLB) is a company everyone needs to own.
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