'A Rocky Start' - Goldman's Top Tech Trader's 10 Questions Into TMT Earnings

Bit of an uncomfortable and action-packed start to the year...

As Goldman Sachs TMT Sector Specialist, Peter Callahan points out in a note to clients this morning, in just 6 sessions, the 2ND largest company in the world (NVDA) round-tripped a ~15% move, the VIX is back near 20, Crude/Oil is ‘breaking out’ (locally), the long-end of the curve is nearing 15 year highs (10s and 30s kind) – while the short-end has pushed the next full Rate cut out to this Fall (per WIRP) .. and yet .. the NDX is ‘only’ down ~75 bps YTD (and TMT 12-mo Laggards and Non-Profitable Tech cohorts are both up on the year)… 

[.. this is to say nothing of rolling headlines around Tiktok, CES, software bus tours, tariffs & more ..]