Stephanie Link, Hightower Advisors chief investment strategist, joins 'Squawk Box' to preview Nvidia's quarterly earnings results, latest market trends, other stocks she's keep an eye on, and more.

The release of Open AI's ChatGPT has accelerated the development of artificial intelligence and warnings about its impact on society.

Rise of AI

Stephanie Link, chief investment strategist at Hightower Advisors, anticipates a challenging quarter for Nvidia due to supply constraints and ongoing China restrictions. She notes that while Nvidia's stock has rebounded significantly from previous lows, the upcoming results are unlikely to serve as a major catalyst, with guidance potentially lowered due to issues such as the H2O chip and slower production.

Link also discussed other retail stocks, highlighting Costco's strong recurring revenue model and Gap's recent turnaround under new leadership. She mentioned her strategy of reducing cash holdings and dollar-cost averaging into the market, focusing on long-term opportunities despite recent market volatility.

Expect messy quarter from Nvidia, says Hightower's Stephanie Link

The one stock everyone's watching this week, NVIDIA. Joining us right now to talk more about it is Stephanie Link. She's Hightower chief investment strategist and CNBC contributor. We do get NVIDIA's earnings tomorrow. It's already Tuesday. So Wednesday, we'll be getting those numbers. Stephanie, what are you thinking of the stock ahead of that? Yeah, I mean, it's very, it's very big representation in the S&P 500, 6%. So people care. It's very owned, very well owned. I just don't think this is going to be a catalyst quarter though, Becky. It's noisy. You've got the China restrictions. July quarter guidance probably has to come down because of the H2O issue. It's about 10% hit probably, but I think that's in the stock. We're also hearing about slower rack production and also power consumption issues. So I think it's going to be a messy quarter. I think it's well-known. The stock has recovered though, 36% from the April lows. So it'll be interesting to see how it trades. But most importantly, this is not a demand problem. It's a supply problem. And they're going to do about $5 in earnings power, I think, this year. Let's talk about another stock. I think you own Costco. Is that right? Because they've got earnings coming out this week too. What are you thinking? I wish I owned it. I don't. I own the other retailer that's reporting. I own Gap, and I'm looking forward to that one. But Costco, it's a behemoth. It shouldn't be a surprise in terms of what they report because they do give monthly same-store sales guidance. The numbers for same-store sales came in at 6.7%. Traffic grew worldwide 4.2%. It's going to be a good quarter. It usually sells off on the news. And if it sells off a lot, I would love to buy it. What's a lot? I mean, it's up 10% this year. I know. Well, I would have to come down. It's trading at 50 times earnings. So it's expensive. But the reason it's trading that expensively is because about 80% to 85% of their revenues are recurring revenues, right? They're membership fees. So if it were to pull back, I would love to get it down 5%, 10%. We're not going to get it down that. But it's a great company for the long term. OK. What about Gap? You do own. I do own Gap. And it's up 22% year-to-date. And that's all because of the CEO who's turning this company around. You remember that Richard Dixon worked at Mattel. He turned around Barbie when he was there. He's turning around the Gap. Last quarter, they had a great quarter in three out of the four departments or divisions. They have Zach Pozen, who's the creative director. He's really changing the creativity of their products. And they're seeing traffic. And they've actually gained market share for the last seven quarters. So trading at 12 times forward yields about 2.3%. If it pulls back only because it's up a lot, I would be adding to that one too. Do you make purchases just based on the overall macro environment, just watching stocks up this morning, down last week on some of these Trump announcements that come through? And Steph, we've only got about 10 seconds. Yeah, I went from 9% cash to 2% cash over the last couple of months. I'm just trying to dollar-cost average on the weekdays.

For the first time, Amnesty International has accused Hamas and its allies of committing crimes against humanity, following an investigation into the 7 October 2023 attacks on Israel. The organization found that 1,221 people were killed and said the mass killing of civilians amounted to extermination.

Jerusalem

Middle East Conflict

Amnesty accuses Hamas of 'crimes against humanity' for Oct. 7 attack

The “Architects of AI” were named Time's person of the year Thursday, with the magazine citing 2025 as when the potential of artificial intelligence “roared into view” with no turning back.

Time magazine names 'Architects of AI' as person of the year for 2025

Message board website Reddit filed a lawsuit on Friday (December 12) asking Australia's High Court to overturn the country's social media ban for people under 16 as well as its inclusion in it, calling the law an infringement of free political expression.

Council of the City of Sydney

Reddit sues to overturn Australian social media ban

As tensions rise with Venezuela, U.S. President Donald Trump said land operations could start "pretty soon." Sources tell CBS News the administration is also planning more tanker seizures.

Washington

Trump says Venezuela land operations could begin 'pretty soon'

One day after capturing an oil tanker off Venezuela's coast, the U.S. has sanctioned three of Nicolas Maduro's nephews, along with six other oil tankers.

Trump ramps up pressure on Maduro with new sanctions

The EU has decided to keep the assets of the Russian Central Bank immobilised for the foreseeable future. The ban, which is based on a provision for economic emergencies, pushes back against external attempts to release the €210 billion in assets before Ukraine is compensated.

Moscow

Ukraine Invasion

EU triggers emergency clause to indefinitely immobilise Russian assets

Nobel Peace Prize laureate and Venezuelan opposition leader Maria Corina Machado said she planned to take her award back to Venezuela, but declined to say when she would return to her home country after leaving in great secrecy to receive the honor.

Caracas

Nobel peace laureate Machado vows to take award home to Venezuela

Japanese authorities are assessing damage after a 7.5 magnitude earthquake struck northern Japan, followed by multiple aftershocks. In response, officials have issued a warning about the possibility of a megaquake, defined as a magnitude 8.0 or higher event.

Tokyo

Japan alerts citizens about possible megaquake

A Maryland judge has ordered the Trump administration to immediately release Kilmar Abrego Garcia from ICE custody. Abrego Garcia was wrongfully deported to El Salvador and was later detained for potential deportation to another country.

Judge orders Kilmar Abrego Garcia's immediate release from ICE custody

About 500,000 people are fleeing renewed clashes on the Thailand-Cambodia border. Over a dozen were killed as fighting shatters a US-Malaysia-brokered peace deal amid a decades-old temple land dispute.

Samraong

Half a million flee as Thailand-Cambodia border clashes escalate

The U.S. has seized an oil tanker off the coast of Venezuela, President Donald Trump said on Wednesday, ratcheting up tensions with Caracas.

Trump confirms seizing of Venezuelan oil tanker

The U.S. House has approved a bill to end all Caesar Act sanctions on Syria, sparking cautious optimism in Damascus as the measure moves closer to becoming law.

U.S. House votes to lift Caesar Act sanctions on Syria

Myanmar's military bombs a hospital in western Rakhine state, at least 31 people are killed and dozens injured.

Rakhine

Air strike in Myanmar killed at least 31 people, dozens injured

The U.S. military seized a large oil tanker off the coast of Venezuela. Attorney General Pam Bondi said the ship had been used to violate sanctions on oil from Venezuela and Iran.

U.S. seizes oil tanker off Venezuela coast

The daughter of Venezuelan opposition leader Maria Corina Machado has accepted the Nobel Peace Prize on her mother's behalf in Oslo, Norway. Machado, who lives in hiding in Venezuela, is set to make an address on Thursday.

Oslo

Venezuela's Machado awarded Nobel Peace Prize in absentia

President Volodymyr Zelenskyy is commenting on potential elections in Ukraine under certain conditions. Former U.S. ambassador to Ukraine John Herbst joins CBS News with more on the war against Russia.

Kyiv

Zelenskyy prepared to hold elections after Trump questions motive

A renewed outbreak of fighting between Thailand and Cambodia has derailed a US-brokered peace agreement, with cross-border shelling and air raids forcing more than half a million civilians to flee their homes.

Bangkok

Border dispute between Thailand and Cambodia flares up again

U.S. immigration agents used pepper spray against protesters in Minneapolis on Tuesday as residents blocked the officers’ vehicles and forced them to leave the area.

Minneapolis

Minneapolis protests erupt over ICE operation targeting Somalis

In Australia, millions of kids' social media profiles are going dark, as the country's new social media ban takes effect for anyone under 16. Jo Ling Kent reports.

Canberra

Australia's social media ban takes effect for kids under 16

President Trump, in recent months, has dismissed concerns about affordability, but this evening, in the battleground state of Pennsylvania, he is focusing on the crisis and touting his administration's efforts to lower the cost of living. Nancy Cordes has more.

Pennsylvania

Trump tries to flip the script on affordability

Dozens of protesters blocked a highway near Tel Aviv to demonstrate against moves by the Israeli government to force some ultra-Orthodox Jews into mandatory military service, something they are currently exempt from so they can study the Torah full time.

Tel Aviv-Yafo

Bill over ultra-Orthodox military conscription sparks protests in Israel

President Trump has told Politico that Nicolas Maduro's "days are numbered" in Venezuela. Political strategists Kevin Sheridan and Hyma Moore join with analysis.

Trump says Maduro’s “days are numbered”

The FBI has released a new photo of former Olympian Ryan Wedding, whom the bureau’s director has described as a “modern day iteration of Pablo Escobar.” The ex-skier and snowboarder remains at large as agents continue their search.

FBI releases new photo of alleged drug kingpin Ryan Wedding

Ukraine President Volodymyr Zelenskyy met Pope Leo XIV and Italian Premier Giorgia Meloni in Rome on Tuesday (December 9), meanwhile voicing his refusal to surrender territory to Moscow despite pressure from Washington for territorial concessions.

Rome

Zelenskyy seeks backing from Pope Leo XIV, Italian PM Meloni

A federal judge said Tuesday (December 9) that the Department of Justice can unseal the Ghislaine Maxwell sex trafficking case records. CBS News' Scott MacFarlane has more details.

Judge says DOJ can unseal Ghislaine Maxwell trafficking case records

Prosecutors on Monday (December 8) released new evidence seized from Luigi Mangione on the day of his arrest. He is accused of killing UnitedHealthcare CEO Brian Thompson a year ago and has pleaded not guilty.

Manhattan

New evidence introduced in Luigi Mangione case

The EU antitrust enforcer has opened an investigation into the U.S. tech giant over its use of online content to power its AI services, a move that threatens to ratchet up transatlantic relations.

Brussels

EU Commission opens probe into Google over AI

The U.S. government said the approval, which comes in exchange for a 25% surcharge, would also be available to other chipmakers like Intel and AMD.

Trump gives Nvidia green light to sell H200 chips to China

Ukraine is set to present a revised peace plan to the United States on Tuesday following President Volodymyr Zelenskiy’s talks in London with the leaders of France, Germany, and Britain.

London

Ukraine to share revised peace plan with U.S., Zelenskiy says

The International Criminal Court Tuesday handed down a sentence of 20 years to a Sudanese militia leader for war crimes and crimes against humanity committed during the country's civil war two decades ago.

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