30/08/2024 09:31

Looking at 5 ASX AI stocks after Nvidia’s earnings

Artificial Intelligence (AI) has often been the market’s focus over recent years, and never more so than yesterday after Nvidia (NVDA US) posted its second-quarter results. In summary, the world's most famous AI play produced US$30 billion revenue in the quarter, its adjusted earnings per share (EPS) rose by 152%, and it is planning a US$50 billion share buyback, but the stock still fell over 6%, with “great” not being good enough after the stock's parabolic gains over the last year.

Read more

29/08/2024 09:35

Nvidia Corp (NVDA) $US125.61

Nvidia (NVDA US) delivered another stellar result, but expectations were so high in many parts of the market that the stock initially slipped ~8% in after-market trade. Revenue of $30.04bn was a little better than the $28.86bn average estimates, but as we covered yesterday morning, they have beaten by a lot more in recent periods. 

Read more

28/08/2024 09:25

NVIDIA (NVDA US) $US128.30

Optimism is high ahead of NVDA’s much-anticipated result,  due early Thursday morning AEST. In the past four quarters, Nvidia has posted operating earnings surprises of 31.6%, 19.4%, 11.9% and 9.8%, respectively. Even more impressive is that Nvidia has posted these beats with its older AI chip, the H100 GPU. Nvidia is now transitioning to its new AI chip, the Blackwell GB200 GPU, which has been delayed; however, the magnitude of the pre-orders are phenomenal.

Read more

07/08/2024 09:27

NVIDIA (NVDA US) $US104.25

We covered NVDA US here concluding in early July: Taking the mid-point of the price implied by the average PE, which is $US121 and the price implied by the average EV/Rev multiple, which is $US88, we get a price point of US$104.50 based on current consensus numbers. Therefore, accumulating NVDA ~$105 makes sense, and leaving room to add to a position should it fall into the ‘cheap’ zone nearer $US90. Buying above $120 does not make sense based on what we know now.

Read more

05/08/2024 09:07

Trade of the Week

AI giant Nvidia (NVDA US) has corrected almost 30% from its June high as its valuation has been reined in, along with many other US tech names. Interestingly, it led the tech downturn but was relatively stable last week

Read more

18/07/2024 09:46

Nvidia Corp (NVDA US) $US117.99

Artificial Intelligence (AI) goliath Nvidia (NVDA US) has become arguably the most influential stock on the US and Global bourses. However, its 17% pullback has primarily been part of a period of sector rotation, with the major indices still within striking distance of their all-time highs. Previously, we’ve described NVDA as a stock where we would look to “buy the dip.” This is precisely what’s unfolding and it certainly feels scary enough to be approaching a panic low.

Read more

11/07/2024 09:25

Nvidia Corp (NVDA ) $US134.91

AI goliath NVDA is arguably the most influential stock on US and Global bourses as we head through 2024. After a sharp ~16% pullback in late June, the $US3.33 trillion giant is gathering steam as it heads back towards new highs—as we’ve said previously, this is definitely a stock we would put in the “buy the dip” basket.

Read more

26/06/2024 09:24

Nvidia Corp. (NVDA US) $US126.09

The most widely discussed and covered stock on the planet is Nvidia (NVDA US), which designs, manufactures and ultimately sells a lot of very sophisticated graphics processing units (GPUs), originally designed to simulate human imagination, enabling the virtual worlds of video games and films. They have since leveraged the same architecture to create platforms for data science, artificial intelligence, autonomous vehicles, robotics, 3D applications and other cutting-edge solutions. As the demand for these sorts of applications increased, their sales exploded, and so too did the share price.

Read more

25/06/2024 09:16

Nvidia Corp (NVDA US) $US118.11

Nvidia (NVDA US) dropped -6.7% on Monday night, adding to its 4% decline last week that snapped an eight-week winning streak. The pullback occurred after Nvidia briefly dethroned Microsoft as the most valuable company in the U.S. However, even after the recent selloff, shares are still up nearly 140% for the year. At this stage the ~16% pullback in Nvidia is “pretty healthy,” assuming you didn’t buy ~$US140!

Read more

19/06/2024 09:16

Global Markets

US equities closed at all-time highs last night, and it feels like we’re typing this almost daily as the bull market remains firmly in control. Rate-sensitive stocks enjoyed a bid from declining bond yields on the heels of weaker-than-expected retail sales data, which lifted hopes of a Fed rate cut. The US futures market is leaning towards two cuts into Christmas with zero talk of potential hikes – it's not surprising the $A rallied above 66.5c overnight. A number of semiconductor stocks followed Nvidia (NVDA US) higher, with Micron Technology (MU US) also advancing well over 3%, while Qualcomm (QCOM US) and Taiwan Semiconductor (TSM US) finished up 2.2% and 1.4%, respectively.

Read more