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No Pressure
It’s not like there’s anything riding on the Jensen Huang Show this evening. Er, except the entire AI Theater Of Dreams and the stock prices that come with it. If you look at general market commentary right now, not the kind of tech wonkery you find here and other OCD type publications, you’ll see the words “Nvidia earnings” and “Jackson Hole” mentioned in the same sentence with equal import. One of the speakers in the next couple days is going to move global markets. It’s just that nobody is sure whether it will be the bejacketed bossman of a noisy semiconductor company or the besuited bossman of, er, the world economy. But definitely one of those two.
We’ve covered NVDA 0.00%↑ for some years and called ‘Accumulate’ loudly back in late 2022. We even said to folks who weren’t … paying us any subscription fees!! A feat of charity if ever there was one.
Here’s one of our charitable works.
Zoinks! Up 238% since then.
Sailing into what be described as a roomful of expectation last quarter, Maestro Huang decided to eschew the old management consultant regime of, lower expectations and then gently beat them by stating that in the next quarter - the quarter that reports today - he would bring home $11bn of revenue. Yes, billion. Yes, in one quarter. Yes, that being +64% up from the same quarter in 2022. Yes, in the context of Nvidia delivering TTM revenue growth of negative 12% as at 30th April 2023.
So the stage is set. Miss the number and we can expect some fireworks. Hit the number, it may not be enough because everyone has been mainlining call options all week long. Beat big and who knows, the Nasdaq all time high isn’t so far away and all it needs is a catalyst to help light a fire under the index.
At 5pm Eastern today, an hour after the close and probably 40-45 mins after the Nvidia print (they are often late, arguing about just how much jazz Jensen is going to bring to the party most likely), we have this week’s Pro tier webinar here at Cestrian Tech Select. We’ll have the numbers for you and the immediate stock reaction, and using our short-term charting method, a view on where next and when.
We’ll also be looking at the Nasdaq writ large and some of our stocks we rate at Accumulate now that tech has taken a modest beating in the last three weeks.
So, join us. If you’re a Pro member here already, just scroll down to register. If you’re yet to step up to Pro (you get a live webinar every week and you get 24/7 access to all our tech stock ratings and charts), you can do so right here.