The expectations were big for NVDA results, and the company beat them. Revenues grew a mindblowing 268% vs same quarter last year and Net income grew 628% vs the same period.
"At ~20.5x forward 12 month EPS, the S&P 500 is currently in the top decile of its historical range ... [while] the cyclically adjusted P/E is in the top 4% of all readings since 1881 and it's only been surpassed in 2021, 2000, and 1929."
With the various flavors of the Taylor Rule (see last week’s posts for more on the Taylor Rule) now declining due to moderating inflation and a rising unemployment rate, the Fed has some room to eventually give back a few of its rate hikes.
