Stocks got a little shot in the arm in the last hour of trading on the expectation that Jensen Huang and the Nvidia board would have good news for them.
And that’s what they got - big beats, particularly in the revenue column, which saw a 265% year-on-year increase.
It’s tough to exaggerate how important these earnings are. Barron’s called them a “referendum on the future of AI.” - as good a way as any to put it. AI (or at least the anticipation of the profit potential in AI), has been a huge bull catalyst over the past year.
It might as well be a referendum on the stock market. NVDA has a market cap north of $1.6 trillion and makes up a huge chunk of the S&P 500 by weight. It’s one of the most important (and some have said dangerous) stocks in the sector that leads the market higher - and lower.
Well, the numbers themselves are in, but there’s still a lot to talk about. Let’s get started…
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What to Make of Nvidia’s Earnings
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