Nvidia, Refiners & Robots

With excitement over Nvidia’s AI-enabling offerings never greater than after its GTC conference this week, Jackie offers a timely word of caution: Nvidia investors would do well to keep an eye out for the peaking of the company’s forward revenues and earnings. If Nvidia’s stock follows the pattern of Cisco’s circa 2000, the shares may peak about two months after revenues and earnings do. … Also: The recent outperformance of the S&P 500 Oil & Gas Refining & Marketing index likely reflects a jump in the crack spread suggesting that refineries may outearn analysts’ expectations. … And: Meet the most humanoid robot yet, from Figure AI.