Drop The Mic' Moment: Godfather of AI Jensen Huang and Nvidia delivered in "homerun fashion," said Ives in a note. The results and guidance were a "drop the mic" moment that will have a ripple impact on the tech space for the rest of the year, he said.
"This is an unprecedented demand that we are seeing before our eyes in the AI Gold Rush," the analyst said. The October quarter revenue guidance of $16 billion, which is notably above the $12.6 billion consensus, and the "quickly rising whisper numbers on the Street" will ignite a tech rally, he said, adding that the rally will continue into the rest of the year.
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We’ve still got a post-earnings short squeeze underway. This event will launch the price to around $600.
In the next two weeks we will return above 500. Weak hands are out. Buyers will be back from the summer break. AI news from others will be released. Long term investor since 2017.
For all NVDA longs. Gross Margins and revenues are going to continue to rise quarter after quarter for the foreseeable future. Let the good times roll!!
Nvidia, still can't sustain a $500 close.
This is normal very low volume heading into the long weekend
Hope the buyers step in next week! :)