Nvidia's latest earnings showed 39% of revenue tied to just 2 clients — a valid red flag for concentration risk. Markets hate single-point dependencies, which explains the post-earnings pullback. But history also shows: NVDA often dips after results, then rebounds on AI demand momentum.
🔎 Macro & Micro Factors
Macro: September's Fed meeting and liquidity tone will drive tech multiples. A dovish Fed keeps growth names like NVDA supported.
Micro: AI demand remains structurally strong, with hyperscalers still ramping capex. Customer concentration is a risk, but also reflects how entrenched NVDA is in AI buildouts.
Street View: Despite the dip, 10+ institutions raised targets → new average ~$203, showing confidence in the medium term.
📊 Predictive Outlook
Bearish Path: If risk-off persists, NVDA could test $168–170 support. A break below opens $160 as the next magnet.
Bullish Path: If buyers step in, reclaiming $180 sets up a rebound to $190–195 near-term.
Q4 Potential: AI server ramp + GB200/GB300 rollout could re-rate NVDA back toward $200–210.
✅ Takeaway
Yes, $170 is a legitimate buy zone — but only if support holds and macro doesn't collapse. Long-term AI tailwinds remain intact, and dips like these have historically been healthy corrections, not trend breaks.
I'm not a financial advisor. Trade wisely, Comrades!
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