Thatcher: NVDA AI "Tentpole," META & MU New Value Stocks, SPCX Long-Term Buy

In an interview on Schwab Network, Bright Lake Wealth Management President Ted Thatcher reaffirmed his bullish outlook on the artificial intelligence sector, describing NVIDIA as the foundational 'tentpole' supporting the broader AI trade following its massive earnings beat. Thatcher argued that strong results from NVIDIA and hyperscalers like Microsoft, Alphabet, and Amazon confirm viable return on investment, effectively putting AI bubble concerns to rest. Looking across the broader market, Thatcher offered contrarian perspectives on macroeconomic conditions and monetary policy. Despite CME FedWatch pricing a 66% probability of a rate hike, he expects the Federal Reserve to hold policy steady, reasoning that current inflationary pressures are supply-driven rather than structural. He pointed to consumer resilience evidenced by steady spending at major retailers, alongside geopolitical tensions and elevated Treasury yields as key market drivers. Thatcher identified several compelling opportunities across technology and growth names. He highlighted Meta Platforms and Micron Technology as strong value plays, noting Micron's leverage to high-bandwidth memory (HBM) and DRAM demand. He also praised Uber's expanding distribution moat and adjusted EBITDA growth exceeding 30%, while advising patience on SpaceX until valuations pull back toward $100 per share.