$Advanced Micro Devices(AMD)$
The problem for NVDA will be gross margins. They will come down. $Taiwan Semiconductor Manufacturing(TSM)$ has raised prices of wafers (guess what- TSM can dictate prices, since wafers are rare commodity). And Blackwell has “liquid cooling” which is high margin business for $SUPER MICRO COMPUTER INC(SMCI)$ (in their previous qtr, they had low margins from air cooling. But, they mentioned that liquid cooling is high margin).
And $Microsoft(MSFT)$ and $Meta Platforms, Inc.(META)$ will probably negotiate low prices due to the delay of Blackwell and also due to availability of competitive MI325X from AMD. So, margins are bound to come down and that will be one of main causes of the pullback (along with the delay).
And I said earlier- I will get back into the market after September trading is over and normalcy returns. There is lot of money to be made in AMD and NVDA (especially AMD with its MI325X, MI350X and MI400 series)
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