Nvidia, Walmart, Macy's: 3 stocks that have had a big year

Market Overview & AI Impact - Nvidia's strong quarter and bullish guidance alleviate AI bubble fears, driving market gains [2][3] - Tech sector outperforms, up 235%, with broad gains across industrials, consumer discretionary, financials, and other sectors [6][7] - AI-related stocks dominate market cap, reminiscent of railroads in the 19th century, indicating a significant AI influence [60] - Market sentiment shifts to "risk on," with meme stocks showing green and crypto experiencing slight gains [11][12] Company Performance & Strategy - Nvidia's revenue growth jumps by $10 billion due to increased US wafer production and partner readiness [20] - Walmart's e-commerce sales increase by 27%, demonstrating strong execution and technology adoption [14][41] - Macy's stock rises 62% in 6 months due to same-store sales increase and portfolio adjustments [47][50] - Walmart is shifting its listing to NASDAQ, signaling its focus on technology and AI [39][61] Economic Indicators & Consumer Behavior - Walmart expects a strong holiday season, but notes pressure on low-income consumers due to wage growth [37][39] - Consumer confidence declines despite stock market gains, attributed to cumulative inflation [35][36] - The odds of a Fed rate cut in December increase from 30% to 42%, influenced by the jobs report [64] Investment Opportunities & Risks - Analysts raise price targets for Nvidia, encouraged by a $500 billion pipeline [26][27] - Some analysts suggest potential overspending in AI, questioning the economics of GPU purchases [24] - Consumer discretionary stocks are cut by fund managers, potentially creating opportunities in turnaround stories like VF Corp and Nike [57][58]