Apple, Nvidia, and Alibaba, oh my!

The three tech giants hogged the headlines on Monday, Aug. 20. 

Here's what you missed.

Are You Smiling? Warren Buffett is, According to Brian Sozzi

TheStreet's Brian Sozzi thinks that Apple Inc. (AAPL) - Get Report was still showing promise. Enough promise, that is, to make Warren Buffett proud.

At $216.67 on Monday, Apple shares have soared 26% so for this year. Apple is now valued at $1.05 trillion, no doubt making large shareholder Warren Buffett quite content.

"We reiterate our $230 target, which we view as conservative as it is based on 17 times FY2019E earnings, a multiple we believe should increase as Services ARPU (average revenue per user) and adoption grows," said Jim Cramer. Apple is a holding in the Action Alerts Plus members club.

Nvidia Rebounds 

Jensen Huang, CEO of Nvidia (NVDA) - Get Report , graced the stage as the keynote speaker for Gamescom 2018.

Nvidia, which saw shares fall on light guidance last week, rebounded after Huang announced the company's newest chips.

TheStreet's @NelsonWang reported that, before Huang's entrance, a video ran showing the history of the most advanced graphics rendering shots in movies and video games over the past 20 years. Once Huang opened, he joked that he has never seen a product announcement about which so much had been leaked in advance.

"The good news is that you will get surprised. We didn't do this intentionally, but everything on the web, every spec is wrong," Huang said.

Huang then went into considerable detail about the challenges of creating realistic-looking graphics and the giant leaps Nvidia has made in addressing all of them with constantly-advancing chips, but also chip architectures. Ray tracing, which was developed by a computer scientist in the 1970s who's now employed by Nvidia, is one of the major techniques for rendering light realistically. Last week, Nvidia introduced its new Turing GPU architecture.

Are You Ready For Alibaba? TheStreet Is

After soaring from early 2016 to mid-2017, Alibaba's (BABA) - Get Report shares have mostly tread water over the past 12 months amid spending and macro worries, reported TheStreet's Eric Jhonsa.

That might set the Chinese e-commerce giant up well to rally following its June quarter (fiscal first-quarter) report, should the report show that Alibaba's top-line momentum remains strong going into the back half of 2018. The consensus among analysts polled by FactSet is for June quarter revenue of RMB81.39 billion (up 65% annually and equal to $11.8 billion) and non-GAAP EPS of RMB8.28 ($1.20).

While Alibaba's revenue growth doesn't depend on its giant Taobao and Tmall marketplaces to the same degree that it once did, Taobao and Tmall still accounted for 55% of its March quarter revenue and the lion's share of its gross profit.

Alibaba's Cloud Computing revenue, which is driven by its AliCloud public cloud platform (#1 in China), saw revenue rise 103% to RMB4.4 billion. For the June quarter, the consensus is for Cloud Computing revenue to rise 95% to RMB4.7 billion.

After falling sharply relative to the Chinese renminbi in 2017, the dollar has done the opposite since April. That's set to have an impact on the dollar-based growth that Alibaba reports. Whereas Alibaba saw 61% RMB-based growth and 76% dollar-based growth in the March quarter, the consensus for the June quarter is for 65% RMB-based growth and 59% dollar-based growth.

Apple and Nvidia are holdings in Jim Cramer's Action Alerts Member Club.

Stick with TheStreet through the rest of the week.