🔥🐂 [Earnings Season] NVIDIA: Tech Darling with Bullish Mojo 🚀

$NVIDIA Corp(NVDA)$ holds a special place in my heart, harking back to my younger days gaming to my college days mining for crypto. ❤️ $NVDA will be releasing its earning announcement 23/8(ET) post-market. In this article, I want to dedicate some brain juice to this emerging tech darling ahead of its earnings. 🧠

Bottomline and Price Targets

Strong fundamentals with upward potential and bullish short-term technicals. I personally think there is more room to grow.

Drawing the wisdom of the crowd, in the past three months, 32 Wall Street analysts have also projected Nvidia's future like modern-day seers. Their average price target of $504.46, equivalent to a cool $500, is a mix of enthusiasm and caution. Well… The optimists chant a grand goal of $600, while the skeptics mutter about $370. As the dust settles, their collective foresight does land on a 12.73% shift from Nvidia's current $400+ price tag. [Miser]  

Its Charm in a Nutshell

NVIDIA, the luminous force behind visual computing and GPU brilliance, has gracefully transitioned from PC graphics to AI-powered marvels. This metamorphosis stirs awe, igniting revolutions in AI, HPC, gaming, and virtual reality. NVIDIA's beating heart is its powerful GPUs, unsung heroes driving deep learning and birthing breakthroughs in robotics, self-driving, and the captivating world of supercomputing.

But what truly captivates me is NVIDIA's dance of partnership with cloud giants, etching its dominion in Data Centers and the vibrant tapestry of visualization and gaming. Its empowerment extends unexpectedly to radiology and flourishing agriculture, embodying unwavering leadership in an ever-evolving world.

Amongst giants like Intel and AMD, NVIDIA persists, innovating to maintain its towering stature. NVIDIA's allure lies in unparalleled parallel processing, a mosaic of applications, and a galaxy of partnerships that define mastery. With a resounding $26.97 billion in 2023 revenue, divided between Graphics and Compute & Networking, NVIDIA's reign touches diverse domains, commanding industries with 44% in Graphics and an astonishing 56% in Compute & Networking.

Promising Recent News and Developments

July 26: NVIDIA, ServiceNow, and Accenture team up for AI Lighthouse, a program to speed up enterprise AI growth.

May 29: NVIDIA and WPP partner for content engine using Omniverse and AI for efficient high-quality content creation.

May 23: NVIDIA AI Enterprise joins forces with Microsoft's Azure Machine Learning to supercharge AI projects.

May 21: NVIDIA's new lab with Jülich Supercomputing Centre plans a classical-quantum supercomputer, powered by NVIDIA's quantum platform in partnership with ParTec AG.

The Goods

1️⃣ NVIDIA's push into autonomous vehicles is a plus. With 320+ partners, they're well-rooted in the self-driving sector, deploying AI for vehicles and infotainment. This strategy fuels their growth in autonomous driving revenues.

2️⃣ Flush with cash, NVIDIA boasts a robust balance sheet. By April 30, 2023, they held around $15.32 billion in cash and securities, dwarfing their $9.70 billion debt. With net cash on hand, they're primed for acquisitions, growth investments, and shareholder distributions.

The Bads

1️⃣ AMD buying Xilinx puts NVIDIA in a data-center chip showdown. Xilinx's Alveo AI cards challenge NVIDIA's GPUs with top-tier performance, making AMD a strong Intel and NVIDIA contender. 🎮🚀

2️⃣ The US-China trade war poses a major threat. The US dominates chip-making, while China's a huge importer. The battle intensified with US licensing for NVIDIA's A100, A100X, and H100 sales to China and Russia, plus a DGX export ban. These chips drive data centers for AI and more. While Russia's not a customer, China's hit hard, impacting NVIDIA's data center chip sales. 🎮🌏

Strong Technicals

See below. 

Summary

A solid stock to bet on, if we set our sights to the multi-month horizon. Watching closely in this space!

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