Tech Rallies After Nvidia Reports Another Monster Quarter - Thursday Premarket 8/27/26

Good Morning Team,

Overview

Tech stocks are up nicely after the latest round of earnings were announced.
NVIDIA (NVDA), the institutional AI sweetheart, reported another blowout quarter.
NVDA reported earnings of $2.22 per share on revenue of $96.22 billion for the fiscal second quarter ended July 2026 which easily beat the Street's estimate for earnings of $2.09 per share on revenue of $91.71 billion.
Revenue grew by a whopping +105.85% on a year-over-year basis.
During the earnings call, Amazon Web Services said it would buy two million Nvidia GPUs, showing that the biggest cloud companies are still spending heavily on AI chips.
In other earnings news, Salesforce ($CRM), CrowdStrike ($CRWD), and Okta ($OKTA) also beat expectations after the close Wednesday, and they are also up nicely before the bell this morning.
Premarket is broadly green, with more than three times as many stocks rising as falling and four breakouts against just one breakdown.
Meta ($META) agreed to pay up to $16.68 billion to settle a case brought by 29 state attorneys general over how Instagram and Facebook were built and how they handled children's data.
Today brings the Jackson Hole Symposium, weekly jobless claims, and a fresh read on retail and wholesale inventories.
Tomorrow Fed Chair Warsh will speak at 10am ET.
Remember, this is the last full week for the month which usually has an upward bias.

Here's what jumped out at me this morning before the open, courtesy MarketTerminal.com

4 Premarket Breakouts

OKTA, RVMD, DRTS, KRNY

1 Premarket Breakdown

176 Premarket UP

DAIC, BRNX, PRE, SMTC, SIMO, TTMI, INIO, WDC, TSEM, ARM, RBRK, MF, OKTA, FXHO, VRT, STX, PENG, IMOS, TNGX, LSCC, ECG, TENB, KN, RAPP, EVMN, CRWD, COHR, DDOG, MRVL, SAIL, RVMD, NVTS, AMRN, GPRE, VICR, STEM, HIMX, SNDK, ZS, S, ICHR, CERT, COHU, LAZR, OMCL, TTI, MU, AAOI, ASST, POWI, SITM, MKSI, EROC, PAHC, BE, AMRC, STM, BMNR, MDB, FORM, PYPD, FPS, DG, CLS, VISN, HRI, CRM, CRDO, ULCC, CRWV, GBTG, GLIBK, MATV, WS, PANW, BIDU, GPGI, MRAM, OOMA, NSLR, UCTT, BRCB, TCGX, FSLR, MTRX, MOD, SNOW, NVMI, EQBK, ZLAB, HUT, AMKR, OPRT, KRG, UPB, FISN, TRT, VEEV, FNRN, SKHY, OUST, MPTI, ABX, SRTA, FCEL, GLUE, SVCO, VOXR, NVA, GDS, CHRN, ALMS, AAT, SSMR, NVDA, ALGM, IMRX, AMBA, AOSL, NTNX, PKX, AMBQ, KIDS, AIP, PUBM, EVC, QUIK, LWLG, IMC, RHP, WYFI, BLZE, FWDI, MESO, VSH, MIAX, CAMT, PTHS, GSL, ENLT, ZVRA, SEPN, PURR, LIF, QMLS, KC, SMCI, RPD, BRUN, BOOM, HDSN, AXTI, CORZ, WGO, LTRX, NBIS, DBGI, BW, FRD, ACLS, VNET, LYEL, AEHR, KROS, MXL, FNKO, IREN, MBUU, HSAI, APLD, GEOS, TNON, TRDA, EDRY, GENB, WETO

47 Premarket DOWN

IPST, JEM, MRNA, PI, TJGC, CSIQ, ODTX, HMY, TG, STTK, KOF, DLTR, NEXA, AERO, PRPO, KGEI, BNAI, XRN, WEN, LOMA, BBW, BURL, CELH, CENT, SAR, MOV, AZ, SUPV, IFS, SVV, TNET, NXTT, PAR, HUBG, EMR, BBY, ARCT, HPQ, DBI, SDOT, UPC, MEI, NBTX, ANL, VMAR, RDIB, XPON

Week Ahead

Thursday

Economic: Jackson Hole Symposium, Jul Retail Inventories Ex Autos MoM, Jul Goods Trade Balance Adv, Initial Jobless Claims (Aug/22), Jul Wholesale Inventories MoM

Earnings: Royal Bank of Canada ($RY), Marvell Technology ($MRVL), Autodesk ($ADSK), Workday ($WDAY), Dollar General ($DG), Affirm Holdings ($AFRM), Dollar Tree ($DLTR), Ulta Beauty ($ULTA), Rubrik ($RBRK), Burlington Stores ($BURL), Best Buy ($BBY), IREN ($IREN), Elastic ($ESTC), SentinelOne ($S), The Gap ($GAP), Hyperliquid Strategies ($PURR)

Friday

Economic: Warsh Speech at 10am ET. Aug Chicago PMI, Aug Michigan 1-Year Inflation Expectations

Earnings: —

I'll be back after the open with today's breakouts report.

Enjoy your day!

Adam

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