Q2 reinforced Nvidia's tremendous dominance

Revenue was up 106% to a whopping $96.2 billion, while adjusted earnings beat expectations again, with management forecasting $108 billion in current-quarter sales. Moreover, Nvidia took things up a notch, projecting 70% revenue growth for fiscal 2028, suggesting the AI infrastructure boom still has plenty of room to run.

Those numbers seem almost impossible to believe, considering that Nvidia generated just $6.7 billion in sales in fiscal 2023's Q2, during the pre-ChatGPT era.

Nevertheless, investors are uneasy over data-center spending, margin pressures from memory pricing, and the remarkably costly ecosystem financing. Those major concerns have effectively made each quarterly report a test of whether the AI giant can continue blowing past expectations.

According to all the technical data, Nvidia has delivered eight EPS beats and seven revenue beats over the past two years — an impressive feat, to say the least.

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