The annual Apple (AAPL) product announcement on September 9th is shaping up to be a potential blockbuster. Multiple sources, including Bloomberg, have confirmed that Apple’s first folding phone, the iPhone Ultra, will be announced. John Ternus is expected to lead the Apple presentation.
The tariff tit-for-tat between the U.S. and Canada is stupid. Prime Minister Mark Carney and President Trump do not get along. Apparently, the negotiations broke down over details. Officially, Canada broke off the trade talks, so Prime Minister Carney wants to confront President Trump. Since trade between Canada and the U.S. is massive, hopefully cooler heads will prevail. I suspect that the auto industry will intervene and the trade spat will be resolved.
Ontario has a massive auto industry supplying the U.S., and it literally makes no sense to irate the Trump Administration, which will likely strive to onshore more auto parts in America. Longer-term, this trade spat will hurt Canada, especially Ontario, so hopefully the auto industry will force a resolution, since tariff uncertainty hurts their supply chains.
Nvidia () will be the grand finale to this incredible earnings announcement season on Wednesday, and Micron Technology () will be the encore in subsequent weeks. The analyst community is estimating that Nvidia will post 97% sales growth of $92.1 billion and 99% earnings growth of $2.09 per share. Due to the anticipation of Nvidia’s spectacular quarterly results, plus the fact that the financial media will be excited about their annual trip to Jackson Hole this week for the annual Kansas City Fed Conference, investor optimism is expected to improve.
The order backlogs for AI-related stocks continue to rise, since AI developers are kind of like Captain Kirk on the Star Trek series demanding more power from Scotty, his engineer. Right now, the data centers are sounding like Scotty screaming, “That is all the power she (USS Enterprise) has got.” We cannot stop the AI boom since ChatGPT, Claude (Anthropic), and Grok (SpaceX) are all demanding more computing power. As a result, GE Vernova () has a massive $176 billion order backlog that is expected to continue to rise.