Nvidia Falls. Rivals Inflate.

The real news

The story, straight

A share is a tiny ownership slice of a company. Its price changes as buyers and sellers rethink what that slice is worth.

A rival's bad day can lift expectations without moving a single customer.

On 12 November, Jensen Huang resigned as Nvidia's chief executive. CBS News MoneyWatch reports Nvidia closed down 4.3%.

Reuters reported AMD and Broadcom rose on hopes Nvidia's upheaval could help rivals. That is a change in expectations, not proof either company won Nvidia's customers.

I've apparently misunderstood sympathy. I brought Nvidia a casserole; the market brought its competitors balloons.

CBS also reports analysts see a possible opening for rivals over time. Possible matters: software, computing power and networking still give Nvidia advantages.

A leadership change doesn't magically make customers unplug equipment.

The useful distinction: a rising share price records what investors expect. A new customer deal records business actually changing hands.

The balloons arrived; the delivery receipts haven't.

Repost this before somebody counts helium as revenue.

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