Closing Bell 8/27/26

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**Scott Wapner** (0:57)
Alright, Brian, thanks so much. Welcome to Closing Bell. I'm Scott Wapner, live from Post 9 here at the New York Stock Exchange. This Make or Break Hour begins with the market's peculiar reaction to that amazing NVIDIA quarter. Yes, stocks are up, but not in several of the places you'd expect, and we'll follow that over this final stretch. Here's the scorecard with 60 to go in regulation. Yeah, it's a good day. I mean, we're green across the board. It's a super strong day for NVIDIA after its guidance just blew away. Investors, take a look, the stock up near 8%.
So pretty good there. But now take a look at several of the other semiconductor names. And it's a mixed picture. Broadcom's good. AMD is red. Micron is too. Take a look at Marvell. It reports tonight. That's a closely watched report. I get the stocks up a ton this year, but it's down today. Now look at the mega caps. The same uneven trade. Microsoft green, Apple green, Amazon red.
Nothing uneven though about the software trade today as a trio of great earnings reports. Lights that trade up and in a big way, huge gains today for Salesforce, CrowdStrike and Okta. The best day in fact for Salesforce since 2020 It does take us to our Talk of the Tape where the markets do go from here after this major Nvidia clearing event. Let's welcome in Adam Parker. He's Trivariate's founder and CEO. Welcome back.

**Adam Parker** (2:14)
Thanks for having me.

**Scott Wapner** (2:14)
Is it peculiar to you as well based on what happened?

**Adam Parker** (2:19)
You know, one of the things I just haven't figured out yet, even like up two minds all day on is, how much do I want to believe a company in the semiconductor industry when they have visibility on 2028? You know, I felt what I learned somewhere in the last 30 years was they don't have a ton of visibility six, nine months out.

**Scott Wapner** (2:36)
That's why they've never gone this far out.

**Adam Parker** (2:38)
Yeah.

**Scott Wapner** (2:38)
They've never done that. They said that, right? 70 percent revenue growth. Street was at 44

**Adam Parker** (2:44)
So it worked.

**Scott Wapner** (2:45)
For that name.

**Adam Parker** (2:47)
For that name. And I agree. And you would think it would have maybe made Micron go up just because they totally memory constrained the current conditions a little bit. So you'd think, oh, on the margin, maybe I take my Micron view up and that's not in the price today, right? So I agree. It's a little congruous.
And I just, you know, sure, they have contracts that are five years short. They've now put in some penalties for cancellation, but they're kind of de minimis relative to the overall. In other words, I just, I thought I learned somewhere to mistrust two-year-out demand indicators.

**Scott Wapner** (3:20)
Especially in a space that is, as you know, better than almost everybody is so cyclically driven.

**Adam Parker** (3:26)
Yeah, this is a cyclical industry. We were confused about the periodicity and amplitude for sure. Current conditions are great. We know they're going to roll over pretty hard eventually. So it's like a giant game of chicken that we got a time. You know, I was just putting the initial part of my weekend note always right and I was putting that photograph from from Kevin Bacon at Footloose where he's going with the tractor to the other tractor and his shoelace gets caught. You know, I'm not 100% sure when I got to veer off here.
And I could see some people saying, look, I'm a little worried that gets running hot. Like Micron's gonna do 86% gross margin in a cyclical business and this kind of tells you how hot it is. So look, I think near-term conditions are so strong that these companies can grow through it. As you know, we said we like Nvidia, we still do.