Gerstner reports S&P earnings excluding Mag Seven came in below expectations with quarterly shrinkage.
“in the quarter, if you back out, you know, mag seven, we're coming in, below expectations. Right? You're actually seeing earnings shrink on a quarter over”
Gerstner argues NVIDIA at 23-24x forward earnings and Mag Seven at 25-30x are not bubble valuations.
“That is not the stuff that bubbles are made of. Right? I think the rest of the mag seven all trades somewhere between twenty five and thirty times, maybe met is at 21 times earnings.”