NVDA Jun 2024 35.000 put

Hold Nvidia long-term, you'll be 'well-rewarded': Scaramucci

Nvidia's (NVDA) upcoming earnings are the talk of Wall Street as the chip company could make major waves for the broader market as it holds about 5% of the total weight of the S&P 500 (^GPSC). Skybridge Capital Founder Anthony Scaramucci joins Catalysts to give his take on Nvidia's earnings expected out after Wednesday's closing bell and how he believes Nvidia will play out in both the long and the short term. "Nvidia is growing and evolving. Could it have a short-term impact on the market here? No question. Do we own it? We own it. Are we staying in it? Yes," Scaramucci claims. "I just point out to people that are listening: There's a guy named Warren Buffett, he made a 70-year bet on America sometime in 1954. He decided, I'm getting long, America. I'm getting long, super high-quality companies... and I think people have to start thinking like that again. Nvidia is one of those names. I think if you hold it over the next decade, you're going to be very well rewarded." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino