Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action news and analysis.

Good afternoon. Today is Thursday, March 7th I'm your host Kim Khan. Our top story so far.

Invidia is a whisker away from adding one trillion dollars to its market

capitalization in a little over two months.

Based on the shares outstanding, NVIDIA will have added $1 trillion to its value in 2024 for a market

cap of 2.2 trillion in change if it closes above 9053. In midday trading Thursday, the stock is above 915 per share.

NVIDIA is averaging about 21.7 billion dollars added to market cap for each

training day this year. The AI chip juggernaut is up more than 79% year to date

after it came through with results and guidance in what some on Wall Street call the most important earnings report in years.

In its latest client survey out this week, J.P. Morgan said 79% of clients see NVIDIA as overvalued, though only 28% believe it's in a bubble.

Also in the chip sector, Mazzujo raised its price targets on NVIDIA, armed, advanced micro devices, and Broadcom, citing increasing opportunities

in AI and custom silicon landscapes.

But a lot of that was just catching up with the rallies these names have seen.

Mizuho's analysts said NVIDIA is still the biggest winner in AI in the near term,

though AMD and Broadcom are also major beneficiaries.

In today's trading, growth stocks are leading the charge again with the NASDAQ up 1.2% and the

S&P up a little less than 1%.

In the morning's economic data, Challenger said that job cuts announced by US-based

employers in February totaled 84,638, reaching the highest level for the month since

2009. That's a 3% increase from January and a 9% rise from February

2023. Also in the labor market, initial jobless claims came in steady at 217,000. Those are the last data points ahead of the official

February jobs report out Friday morning. Society General F.X analyst Kit Juke says,

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