From Yahoo Finance, cutting straight to the analysts, August 24:
Here's what Wall Street is saying about Nvidia's latest quarter:
Wedbush analyst Dan Ives: "The Street was awaiting on pins and needles the quarter/guidance from Nvidia after the bell and the Godfather of AI Jensen and Nvidia delivered in homerun fashion. The entire tech sector and overall market was waiting for Nvidia with this being the purest and best barometer for AI demand and the results/guidance were a 'drop the mic' moment in our opinion that will have a ripple impact for the tech space for the rest of the year. As my collegue Matt Bryson and the rest of the Wedbush tech team has continued to discuss again and again over the last six months this is an unprecedented demand that we are seeing before our eyes in the AI Gold Rush. The October quarter guidance of $16 billion was well above $12.6 billion estimates and quickly rising whisper numbers on the Street and will be fuel in the engine to ignite a tech rally we see continuing into the rest of the year despite the recent pullback and Fed jitters (Jackson Hole meeting) in the air.”
Citi analyst Atif Malik: "We believe management did a good job addressing the three key topics we highlighted: AI demand, supply, and China. Management sees “tremendous” broad-based AI demand across CSPs, consumer/internet, and enterprises with visibility extending into next year. Supply is expected to grow through the year into next year with some products like L40S GPU not requiring advanced packaging. China remained stable at 20-25% of data center sales as US led the data center growth. We hike our FY24/25/26 EPS by 42%/37%/23% and raise target price to $630 on consistent 35x P/E revised CY25 EPS of $18. Maintain Buy.”
....MUCH MORE
Some of the enthusiasm has dissipated with the stock below the $500+ levels it reached in yesterday's after-hours trading,$484.51, up $13.35 last.
