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Yikes. Nvidia market cap up $200B today
Posted by: pdq
Date: May 25, 2023 09:03AM
Yahoo Finance

Quote

If the pre-market gains in Nvidia hold, [which they are so far - up 24%!] the company’s market value would rise more than $200 billion, which would mark the biggest one-day rise in history. Apple's $191 billion pop in November 2022 is the current record holder.

Why?

A-I. [I guess]

Quote

It was Nvidia's outlook that truly surprised the investing masses.

Nvidia founder and CEO Jensen Huang told analysts on the conference call the very upbeat outlook reflects a fundamental shift to accelerated computing. In turn, that places Nvidia's chips that power generative AI in high demand.

"We're seeing incredible orders to retool the world's data centers. And so I think you're seeing the beginning of, call it, a 10-year transition to basically recycle or reclaim the world's data centers and build it out as accelerated computing," Huang said. "You'll have a pretty dramatic shift in the spend of a data center from traditional computing and to accelerate computing with SmartNICs, smart switches, of course GPUs and the workload is going to be predominantly generative AI."

Yeah, okay, maybe. Maybe even probably. Personally not ready to jump on this bandwagon yet based on a CEO’s optimistic outlook.
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Re: Yikes. Nvidia market cap up $200B today
Posted by: ztirffritz
Date: May 25, 2023 09:07AM
They announced earnings yesterday and beat analysts expectations by almost 35%, with analysts expecting $7.2billion, but actual was $11billion. Usually a 3-5% beat is a good result. 35% means someone missed something BIG.

*NOTE* I'm pulling those numbers from memory so I could be off, but the gist is the same. They beat expectations by a LARGE margin.



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Edited 2 time(s). Last edit at 05/25/2023 09:09AM by ztirffritz.
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Re: Yikes. Nvidia market cap up $200B today
Posted by: pdq
Date: May 25, 2023 12:16PM
Quote
ztirffritz
They announced earnings yesterday and beat analysts expectations by almost 35%, with analysts expecting $7.2billion, but actual was $11billion. Usually a 3-5% beat is a good result. 35% means someone missed something BIG.

Yeah, what you're quoting is what the CEO projects for next quarter. The actual results were good/not good:

Quote

Despite year over year revenue contraction of 13.3%...for the three month period ended April 30th, Nvidia posted an adjusted EPS of $1.09 on revenue of $7.192B [which beat market expectation].

It appears some shorts got squeezed too.

Still, the (trailing 12 month) P/E ratio is currently around 222. Two hundred and twenty two.

Too rich for me.
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Re: Yikes. Nvidia market cap up $200B today
Posted by: Carnos Jax
Date: May 25, 2023 12:22PM
Yes, there were a loooot of people shorting Nvidia prior to this.
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Re: Yikes. Nvidia market cap up $200B today
Posted by: Carnos Jax
Date: May 25, 2023 12:25PM
Think I’ve mentioned this before, but bro thinks there’s an AI bubble that’s about to form over the next year or two. May be worthwhile riding it up. Our Tesla position should cover us on the AI thing.



Edited 1 time(s). Last edit at 05/25/2023 12:26PM by Carnos Jax.
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Re: Yikes. Nvidia market cap up $200B today
Posted by: Carnos Jax
Date: May 25, 2023 02:14PM
Nvidia’s move was the biggest relative to market cap in history. This could take some of the luster off TSLA and make Nvidia the new darling of the stock market. Musk should probably quit his controversial yapping.
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Re: Yikes. Nvidia market cap up $200B today
Posted by: d4
Date: May 25, 2023 03:14PM
Nvidia rode the crypto mining crazy train until it ran out of steam last year. Now they're hopping onto the AI train next!



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Re: Yikes. Nvidia market cap up $200B today
Posted by: Carnos Jax
Date: May 25, 2023 03:25PM
Yup, very well played, and fortunate for them.
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