JPMorgan’s ‘Everything Rally’ Ignites After Nvidia’s Q3 Blowout | US Crypto News
Nvidia's massive Q3 earnings fueled optimism, prompting JPMorgan to predict an 'everything rally' across markets, including Bitcoin.Summary
JPMorgan's trading desk is forecasting an "everything rally" following Nvidia's exceptional third-quarter results, where revenue surpassed expectations at $57 billion, leading to a significant surge in its market value. This AI-driven optimism boosted chipmakers and caused Bitcoin to rise above $91,000, signaling a return of risk appetite after a recent market slide. Both JPMorgan and Goldman Sachs view the recent market dip as a buying opportunity, emphasizing stable fundamentals over immediate Federal Reserve policy shifts. Concurrently, Bitcoin mining stocks saw significant pre-market gains due to the perceived expansion of miners' role in AI infrastructure. However, the rally is met with skepticism; some institutional investors have trimmed Nvidia holdings, and figures like Michael Burry question the true shareholder value creation at Nvidia due to high stock-based compensation relative to buybacks and share count increases.
(Source：BeInCrypto)