After gaining 11.13% on the week so far, Nvidia (NVDA) may have enough momentum to break out of the “lower highs” pattern. This bearish pattern started in June when speculators started to doubt AI-related chip suppliers.
On Wednesday, September 11, CEO Jensen Huang said that general-purpose data centers worth a trillion dollars will get modernized into accelerated computing. That comment added over $10 to Nvidia’s stock price.
So long as Tesla (TSLA), Alphabet (GOOG), Apple (AAPL), and Microsoft (MSFT) buy GPU-powered AI servers, sales will keep growing. If customers question the returns and want to minimize costs, those firms may pause server purchases.
In the media sector, Warner Bros Discovery (WBD) added 10.37% on Thursday. CEO Zaslav said that the firm will reach six million subscribers in the third quarter. That would result in over $1 billion in EBIT next year. The CEO expects the studio, TV, and motion picture library will drive its content growth.
In the REIT sector, long-suffering Medical Properties (MPW) staged a strong rally. MPW stock gained 16.18% after it reached a settled deal with its tenant, Steward Health Care System. The bankrupt tenant will give MPT control over its real estate.
MPW expects to receive $160 million in annualized cash rental payments. It will sell three Florida hospitals to Orlando Health.
Shorts will need to close the bet against MPW stock.
