Blowout Nvidia Earnings – AI Factories And Sovereigns Are Hidden Gems
Portfolio Pulse from The Arora Report
Nvidia reported strong Q1 earnings, surpassing consensus estimates and aligning with whisper numbers. The company announced a 10-for-1 stock split and highlighted future revenue from AI factories and sovereigns. Other AI-related stocks also saw positive movement. The Arora Report raised its long-term target for Nvidia and issued a new Buy Now rating.
May 23, 2024 | 4:26 pm
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POSITIVE IMPACT
Applied Materials' stock moved higher following Nvidia's earnings report.
Nvidia's strong earnings positively impacted other AI-related stocks, including AMAT, which saw a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Advanced Micro Devices saw positive movement in its stock following Nvidia's strong earnings report.
Nvidia's strong earnings positively impacted other AI-related stocks, including AMD, which saw a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Micron Technology's stock saw positive movement following Nvidia's earnings report.
Nvidia's strong earnings positively impacted other AI-related stocks, including MU, which saw a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Nvidia reported Q1 earnings of $6.12 vs. $5.59 consensus and announced a 10-for-1 stock split. Future revenue from AI factories and sovereigns is expected to be significant.
Nvidia's strong earnings and stock split announcement are likely to drive the stock price higher in the short term. The future revenue from AI factories and sovereigns adds to the positive outlook.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Invesco QQQ Trust Series 1 saw positive money flows in early trade following Nvidia's earnings report.
Nvidia's strong earnings contributed to positive money flows in QQQ, reflecting overall market optimism.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Super Micro Computer Inc's stock moved higher following Nvidia's earnings report.
Nvidia's strong earnings positively impacted other AI-related stocks, including SMCI, which saw a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
SPDR S&P 500 ETF Trust saw positive money flows in early trade following Nvidia's earnings report.
Nvidia's strong earnings contributed to positive money flows in SPY, reflecting overall market optimism.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Taiwan Semiconductor's stock saw positive movement following Nvidia's earnings report.
Nvidia's strong earnings positively impacted other AI-related stocks, including TSM, which saw a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Vertiv Holdings Co's stock moved higher following Nvidia's earnings report.
Nvidia's strong earnings positively impacted other AI-related stocks, including VRT, which saw a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50