In the event you somehow missed it, Nvidia’s (NVDA) latest earnings report was nothing short of remarkable. The company’s Q2 revenue and earnings far exceeded expectations—largely on the promise of AI. Hedgeye Tech analyst Ami Joseph walked through the report this morning during The Call @ Hedgeye.
"It's almost funny, because the rest of this company that took them more than 30 years to build and become amazing and dominant and incredible is almost irrelevant," Joseph explains.
Shares of NVDA are up 180% since Keith McCullough identified the tech company as Bullish Trend in Risk Ranges on March 22, 2023. NVDA remains Bullish Trend. The question is whether this AI boom will continue for the foreseeable future.
“$100 billion of CapEx has been created in the world for AI out of nowhere,” Joseph adds. “We’re not sure if this sort of moment will be seamless and sustained and we’re off to the races … or is there going to be some point at which some of this has to accrete in terms of revenue."
Watch the full clip above.