HP Inc. issued a stark warning on the computer market. The PC supplier is bracing for memory chip volatility to continue well into next year. It also forecast a drop in PC sales. HPQ stock traded down by nearly 6% in after-hours trading.
HP is bullish on the Microsoft (MSFT) Windows 11 upgrade cycle, boosting sales in Europe and Asia. However, the company believes its yearly results will be at the low end of its range due to higher memory costs.
The AI sector will brace for Nvidia (NVDA) to post quarterly results after markets close today. Expectations are substantial that even a small miss would shatter long-term bulls. NVDA stock might trade flat if it meets expectations. It will become increasingly harder for the GPU chip supplier to sustain its growth rates indefinitely. Eventually, the AI hardware boom will slow.
Oil stocks will continue to trend higher. Iran and the U.S. risk another conflict. That might disrupt oil output, lifting WTI crude prices. Recently, the breakout in shares of Devon Energy (DVN) and Exxon Mobil (XOM) paused.
Financial crisis risks are on the rise. JPMorgan Chase (JPM) CEO Jamie Dimon likened today’s market to that of the years preceding the great financial crisis. Dimon is concerned that people are too comfortable with high asset prices and high volumes.
JPMorgan Chase’s financial results are fine with inflated valuations. Trading volumes remain strong.
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