关于NVDA Earnings…

[持续更新，感觉有用点个分享关注吧]

1. Although stock’s down slightly in afterhours, NVDA Earnings mostly meet expectations (especially after considering export restriction impacts)
2. EPS likely to be revised up again by simple extrapolation (best of what anyone can do for now…)
3. Company’s confident in 2025 growth, which is the key debate point among investors; Bull could be winning over bear if still no evidence suggesting otherwise
4. Nvidia is big in networking and will become bigger
5. Forward PE based on consensus still looks “cheap” and will become cheaper after EPS numbers are revised up. (For comparison, AMD is trading at similar PE levels if not higher)
6. Bears will definitely argue for peak earnings trough multiples, but need evidence to substantiate, until which stock’s more likely up than down  

Nvidia (NVDA US)

1. Q3/ Q4 (est.) revenue: 18.1bn/ 20bn plus minus 2%; Growth to be driven by data center, with strong demand for both compute and networking. Acknowledged potential for higher guidance without China restrictions

2. New U.S. export control regulations are expected to significantly impact sales in China, potentially affecting 20% to 25% of data center revenue.

3. Networking: 10bn run rate (~150% YoY), expanding into ethernet. Exceptional demand was observed for InfiniBand, contributing to a significant growth rate and indicating a strong market demand for NVIDIA's networking solutions.

4. Confident in data center growth through 2025.

海外业绩要点 - SMCI, QCOM, QRVO, CDW

海外业绩要点 - AMD

海外业绩要点 - ANET, RMBS, AMKR, LSCC, MPWR, ON, WDC

海外业绩要点 - AMZN, INTC, SK HYNIX, ASE

海外业绩要点 - META, UMC

海外业绩要点 - MSFT, GOOGL, TXN, CDNS

长期有效的投研宝典