TECH - Can Nvidia Live Up To The Hype? Analyst Says Q1 Earnings Anticipation 'Like That Of A Taylor Swift Concert' As Wall Street Keeps Hopes Sky-High | Benzinga
AI stalwart Nvidia Corp. (NASDAQ:NVDA) is all set to release its first-quarter earnings report on Wednesday after the market close, and all eyes are trained on the report, given its implication for the market.
Key Nvidia Numbers: Expectations ahead of the report are lofty, and investors are losing sleep over the company’s ability to meet them.
The consensus expectations vis-à-vis past performances are as follows:
Consensus Q1’24 Estimated Y-o-Y Growth Q4’24 Estimated Q-o-Q Growth Guidance
Revenue $24.65B $6.52B +341% $22.10B +11.54% $24B +/- 2%
Non-GAAP EPS $5.59 98 cents +470% $5.16 +8.33% N/A
Non-GAAP
gross marginN/A 66.8% – 76.7% – 77% +/-
50 basis points
Deepwater Asset Management’s Gene Munster flagged a potential “Osborne effect” hurting near-term results, including that of the first quarter. The impending launch of Blackwell, Nvidia's new flagship GPU platform, this fall creates a risk for the April, July and even October quarters as customers hold back on purchases in anticipation of the new AI accelerators, he said.
Any disappointment may trigger an initial negative reaction but investors could stick with the stock, realizing “today's pain is for next quarter’s gain,” the venture capitalist said.
Morgan Stanley’s Joseph Moore, however, called for a strong quarter and guidance, as he sees steady growth even as supply and demand shift to Blackwell.
Lumida Wealth‘s Ram Ahluwalia expects another beat-and-raise quarter. Return on capex spend is sharply higher for hyper scalers and therefore they will continue to spend, while countries like Saudi Arabia are spending heavily on data centers, he said. TSMC’s 60% revenue ...