The broad market index and the Nasdaq Composite snapped a three-day losing streak on Tuesday.
Nvidia is poised to continue its monster run, according to EMJ Capital's Eric Jackson. The hedge fund manager sees its forward price-to-earnings ratio hitting close to 70 and rising to $6 trillion in market cap at $250 per share by year's end. 'This is a highflier,' the firm's founder and president told CNBC's ' Closing Bell ' on Tuesday, adding that the euphoria still hasn't caught up yet.
He sees euphoria being reflected in a 'lofty' valuation in the second half of 2024 when sales from its Blackwell chip start to come in and the future release of its next-generation Rubin chips generates anticipation. 'Nobody's catching up to them,' he continued. 'It's years away from that happening. They're going to take advantage of that lead that they have.' Shares of the chipmaker rose about 6.
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