NVDA Earnings Preview

February 21, 2024

If you have bet against this giant over the past few years it’s been a tough road.

Nvidia (NVDA) has ridden nearly every major Mega Trend wave higher that we’ve covered since LikeFolio’s ‘Mega Trend’ inception.

This company is the ultimate disruptor.

Just take a look at some of the trends this company has harnessed and propelled on its march higher:

  • GPU Computing Revolution (Early 2000s onwards): NVIDIA transformed GPUs from mere graphics rendering tools to powerful computing processors, marking the beginning of GPU-accelerated computing across various industries.
  • Deep Learning and AI Surge (2012 onwards): The company became pivotal in the AI revolution, with its GPUs becoming the de facto standard for training deep learning models due to their computational efficiency.
  • Gaming and Esports Boom (2010s onwards): NVIDIA's GeForce GPUs have dominated the gaming industry, benefiting from the rise in PC gaming and esports.
  • Ray Tracing Technology Adoption (2018 onwards): Introduced real-time ray tracing GPUs, significantly enhancing gaming and content creation realism.
  • Data Centers and Cloud Computing Expansion (Mid-2010s onwards): NVIDIA's GPUs are crucial for data centers, powering cloud computing, and AI services.
  • Autonomous Vehicles and Robotics (Late 2010s onwards): Ventured into autonomous vehicles and robotics, offering GPU and AI platforms for these technologies.
  • Edge AI and IoT (2020s onwards): Adapted its technologies for edge computing and IoT, reflecting a move towards decentralized, intelligent computing.

What's Next for NVIDIA in 2024:

Looking ahead, NVIDIA is set to continue its innovation streak, focusing on generative AI and cloud collaborations. The company is expanding its AI portfolio to include applications like generative AI for film production, AI surgical assistants, generative AI in drug discovery, and AI-enhanced retail experiences. These advancements promise to revolutionize industries by making AI more accessible and efficient across the board.

For example, NVIDIA's generative AI is expected to transform the film industry by reducing production costs and enabling more creators to produce high-quality content. In healthcare, AI surgical assistants will augment surgeons' capabilities, improving safety and outcomes in surgeries. The company's foray into generative AI drug discovery aims to expedite the development of new medications by leveraging vast healthcare datasets and automation.

Furthermore, NVIDIA's enterprise solutions are set to empower businesses to harness their data more effectively, using generative AI to unlock insights from vast unstructured data stores. This will facilitate more personalized and efficient operations across various sectors, from retail to industrial design.

LikeFolio data shows continued buzz growth…

And happiness growth:

But with a market cap of 1.72 Trillion (with a T), the bar is high.

Our Sunday Earnings Sheet put out a bearish score on NVDA for this week (primarily due to the massive expectations), but with the early week’s large drawdown in share price, we are officially moving to a neutral position into earnings, while maintaining a very bullish long term outlook.

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