Amit Kukreja
GOOGLE FORCES NVIDIA TO MAKE A DEAL, BIG EARNINGS TODAY | MARKET OPEN
10/21/2025, 3:44:45 PM
Economic Summary
- Commodities pulled back notably in the pre-market — silver down ~5% and gold down ~3% — raising questions about whether the recent commodity rally needs to pause or reverse.
- Banks and financials reported strong earnings beats (Goldman Sachs referenced) and see AI as a productivity lever, implying potential durable earnings growth for financial stocks (GS).
- Canada's annual inflation rose to 2.4% in September (from 1.9%), the first time above the Bank of Canada's 2% threshold in six months, which could be a cautionary datapoint ahead of U.S. CPI data.
- AI ecosystem moves (OpenAI ties with cloud/chip players) are materially impacting semiconductor and big-tech multiples — investor reactions to strategic deals can create large stock moves (NVDA, GOOGL).
- Broad market still near key highs (S&P noted close above 671 pre-market and within ~$2 of all-time highs), suggesting market breadth is holding despite headline volatility.
Bullish
- AI-driven productivity could boost margins and earnings for banks and large tech (e.g., GS, NVDA).
- Amazon's stock held up after a major AWS outage, indicating resilience and buy-the-dip appeal (AMZN).
- Warner Bros open to acquisition could unlock shareholder value (WBD).
Bearish
- Commodities (silver -5%, gold -3%) are taking a meaningful pre-market hit, risking a broader commodity selloff.
- OpenAI's browser/partnership noise caused a sharp drop in Google, showing AI narratives can quickly compress multiples (GOOGL).
- Speculative, no-revenue names (e.g., Oklo) have extreme froth and could unwind sharply if the market re-prices fundamentals.
Bullish tickers
NVDAAMZNGSWBDBMNR
Bearish tickers
GOOGLOKLOSILVER
NVDA
Bullish
Bull: Central GPU supplier for AI workloads; strategic partnerships increase revenue opportunities.
Bearish
Risk: AI narrative-driven multiple contraction if adoption/investment disappoints.
AMZN
2 price targets
218221
Bullish
Long-term resiliency and buy-the-dip candidate after holding up despite a major AWS outage.
Bearish
Short-term risk from AWS outages and potential Q4 margin hits from service credits/vouchers.
GOOGL
1 price targets
255
Bullish
Large incumbent with deep search and ad franchises; potential to absorb new competition over time.
Bearish
Vulnerable to competitive threats and narrative-driven selloffs from AI/browser announcements.
TSLA
1 price targets
446
Bullish
Remains a core growth name in EV/automation narratives.
Bearish
Volatile around event-driven news and broader market weakness.
NFLX
1 price targets
1245
Bullish
Trading near prior levels and up YTD; possibility of a breakout quarter.
Bearish
Earnings-sensitive; downside if subscriber/ARPU metrics disappoint.
AAPL
1 price targets
264
Bullish
iPhone 17 growth thesis supports continued strength and record valuations.
Bearish
High expectations priced in after all-time highs; vulnerable to disappointment.
GS
Bullish
Seeing AI-driven efficiency gains and strong recent earnings beats.
Bearish
Late-cycle concerns could pressure financial margins if inflation persists.
EOSE
Bullish
Wins state-backed packages for expansion and large battery production capacity upside.
Bearish
Very volatile; previously down sharply and subject to headlines.
ASTS
Bullish
Has deals and partnerships suggesting near-term revenue visibility relative to some peers.
Bearish
Early-stage valuation risk; limited revenue so far.
OKLO
Bullish
If the company can deliver real growth/permits, narrative could re-rate.
Bearish
Extremely frothy valuation with little to no near-term revenue; downside on re-rating risk.
WBD
Bullish
Open-to-acquisition comments can trigger takeover premium and lift shares.
Bearish
M&A rumors can be volatile and hinge on deal terms and strategic fit.
BMNR
1 price targets
52
Bullish
Offers option-premium income strategies and levered exposure to Ethereum appreciation.
Bearish
Linked to crypto/ETH price action and can be range-bound if ETH stalls.
People mentioned
Sam AltmanJensen HuangBill AckmanDavid SolomonJamie DimonAndrej KarpathyJane FraserMike WilsonWarren BuffettDavid TepperMichael BurryMark BenioffTucker CarlsonVlad TenevAmit