$NVDA four quarters ago versus today.
Stock price: $180 -> $225. Up 25%.
Market cap: $4.4 trillion -> roughly $5.4 trillion. Up 25%.
Quarterly revenue: $46.7 billion -> $96.2 billion. Up 106%.
The business doubled. The stock went up a quarter of that.
Data center did $89 billion last quarter alone, up 117%. Gross margin at 75%.
Supply commitments jumped from $119 billion to $279 billion, primarily memory. Q3 guided to $108 billion.
A year ago it traded at a premium multiple on the expectation of growth. Today it trades at a lower multiple on growth that already happened.
The market has stopped rewarding blowout quarters.
The stock has fallen after four of the last five beats.
Price up 25% with earnings up 106% means the multiple keeps compressing. That gap doesn't close by earnings coming down.
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Stock price: $180 -> $225. Up 25%.
Market cap: $4.4 trillion -> roughly $5.4 trillion. Up 25%.
Quarterly revenue: $46.7 billion -> $96.2 billion. Up 106%.
The business doubled. The stock went up a quarter of that.
Data center did $89 billion last quarter alone, up 117%. Gross margin at 75%.
Supply commitments jumped from $119 billion to $279 billion, primarily memory. Q3 guided to $108 billion.
A year ago it traded at a premium multiple on the expectation of growth. Today it trades at a lower multiple on growth that already happened.
The market has stopped rewarding blowout quarters.
The stock has fallen after four of the last five beats.
Price up 25% with earnings up 106% means the multiple keeps compressing. That gap doesn't close by earnings coming down.
#BTC Price Analysis# #Macro Insights# #Altcoin Season#
