NVIDIA (NVDA) is scheduled to report results after the close today with a conference call following at 5:00 p.m. E.T.
NVDA has been on an absolute tear. It has topped analysts' earnings and revenue expectations along the way. Expectations are high ahead of tonight’s print evidenced by the ~10% run up over the past week.
Last quarter, the company destroyed the EPS estimate by $1.12, following beats of $0.99 and $0.50 in the two preceding quarters.
The evolution of artificial intelligence (AI) and the company's strong technological position within AI is at the core of its success. This is doubly true in the data center market. Last quarter, NVDA's Data Center (DC) segment posted growth of 97%, which actually represented a slowdown from Q3's 162% ramp.
TECHS:
NVDA's outstanding performance and robust growth has produced a rich valuation for the stock, illustrated by the ~44x forward P/E.
NVDA bulls argue that the lofty valuation is supported by the company's considerable growth opportunities. Specifically, NVDA is gaining a strong hold in autonomous driving and Robotaxis. They estimate that its design-win pipeline for NVIDIA DRIVE technology totals more than $8 bln over the next six years.
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