Key Trading Themes:
IBM, LVS, ARM continued strongly higher as Gold, Silver & Miners continued strongly lower.
Oil and Bonds supportive; USDJPY pushing higher into resistance soon.
VIX back to 15.50 lol. And AMD up > 60% IN ONE MONTH. LOL
Snowflake’s earnings caught my attention:
Product revenue climbed to $3.46 billion, a 30% increase from prior year.
Non-GAAP product gross margin of 76%.
Adjusted free cash flow margin projected to be 25% for the current fiscal year.
Holds $3.58 billion in cash reserves.
Half of all new customer acquisitions now involve AI workloads.
Net revenue retention is 125%! That means the company doesn’t have to sign any new customers and will still revenue by 25% year-over-year. Amazing.