00:00 Speaker A

would love to start big picture here because heading into the close, we’re seeing a bit of a mixed reaction from investors right now. How are they weighing this war in Iran, this conflict there that’s still ongoing, even though we got some signs it could be coming to an end. on top of that Nvidia report that we got yesterday after the bell.

00:24 Speaker B

Yeah, everybody’s looking at Nvidia report itself was was good, the guidance was good. Expectations were for a beat and a raise, that’s what they did. Stock selling off a little bit, not a huge surprise. Last several quarters when they reported, stock sold off a little bit. And you’re right, investors are balancing company earnings, also with the news coming out of Iran in the conflict. We focus on company fundamentals and that’s kind of why the question we get a lot of often is why is the S&P been so strong this year when all this Iran conflict stuff’s going on is because company earnings just like Nvidia have been fantastic. Companies are beating, the forecast for this year for the S&P 500 for 18% growth. That’s a great number. If that can continue and actually exceed that, that’s a good tail one for the markets and I think that’s why they’re looking through this Iran conflict because right now it’s, you know, day-to-day, minute to minute on what’s happening over in Iran.

1:00 Speaker A

Keith, I feel like this earnings growth has just been the story of these first quarter results. I know you mentioned the reaction that investors are having to Nvidia right now. How are you thinking about Nvidia? Because it seems like right now investors are really thinking about it as a long-term play, especially following the reaction, the day-to-day of following the results. This is typically what we see as you noted.

1:20 Speaker B

Yeah, you’re right. I think this is a long-term holding, especially for us as well. It’s a name we like. It’s obviously the biggest company in the S&P 500. We want exposure to it. The question is how much exposure do you want. We do think Nvidia and even Broadcom per se, I think those are the leaders in the chipset. And we’ve seen a lot of these other semiconductors earlier you talked about doing very, very well. But I think if you look out a year plus, I still think you want to stick with the name like Nvidia.