The stock market rebounded on Thursday after concerns on rate hikes caused consecutive declines in major indices – four consecutive days in the case of S&P 500.
Overall, S&P 500 grew 0.5% to 4,012, while NASDAQ increased 0.7% 11,590.
Tweet of the Day
$NVDA Look, right now AI & ability to run Large Language Models is all that matters. So Rev -21% 😰, EBIT -58% 😭, big Q4 miss in Data Center & a 🦄 valuation (45x ‘24 EBITDA) after the YTD run-up? Noone cares! Everyone’s AI capex is Nvidia’s future revenue. AI-as-a-service! 🤤 pic.twitter.com/GZYdOKq7Kj
— Wasteland Capital (@ecommerceshares) February 23, 2023
Chart of the Day
Here is the ten-year chart of Fiserv (FISV) as of February 15, 2023, when the stock was at $118.
Fiserv software controls ATM transactions, money transfers, and mobile banking to more than 13,000 banks and credit unions around the world.
FISV’s ten-year chart shows a stock that used to grow steadily, but has been more recently been going sideways. Note that this stock had a P/E of 22-23 in the past. It would be nice if the P/E got back up to that level again.
FISV is part of the Conservative Growth Portfolio. With a P/E of only 13, the stock seems like a bargain to David Sharek, Founder of The School of Hard Stocks.
