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The Stocks To Buy Now That Nvidia’s Winning Streak Is Over

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Remember the dark days of early August? They weren’t so long ago… but they’re now a distant memory for investors, with the Dow hitting a new all-time high on Tuesday of this week, and again today as the index pushed past 41,500 for the first time.

The rally comes as consumer confidence hits its highest level in six months, with the consumer-confidence index rising from 101.9 in July to 103.3 in August, according to the Conference Board. And forecasts for the July Personal Consumption Expenditures Price Index offered more encouraging data on inflation.

But one catalyst behind this week’s rally towers above all of these statistics.

Benzinga Research analyst Gianni Di Poce has called Nvidia “the most important stock on Wall Street” and the linchpin to this bull market.

And Thursday’s trading session showed why that is… the company that has become a bellwether for the $15.7 trillion AI revolution reported a 122% revenue increase year-over-year for Q2, with net income more than doubling to $16.95 billion.

Even so, Nvidia’s share price fell by nearly 5% in Thursday’s trading (Nvidia’s earnings were released after market hours on Wednesday) after reporting production snafus with its next-generation AI chip, codenamed Blackwell.

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