With trade volumes declining and price activity halting since the CPI report last week, the market appeared lifeless yesterday. As the VIX’s pinning weakens today, things ought to start to loosen up, and the Fed minutes, which are due at 2:00 PM ET, ought to offer the market something to chew over.
When Chris Waller suggested postponing a rate decrease until late this year or early next year, the market was left with a lot to ponder. After that, he gave a sneak peek at Friday’s speech, speculating that the neutralization rate would be greater than anticipated.
Following some of its Big Tech competitors in making larger quarterly payments to shareholders, Nvidia (NVDA) announced a 10-for-1 stock split and an enhanced dividend on Wednesday in addition to reporting first quarter earnings that exceeded forecasts.
With $26 billion in revenue, the business recorded adjusted earnings per share (EPS) of $6.12, up 262% and 461%, respectively, over the previous year.
The S&P 500 call delta is easily more built up than the put delta on Thursday, indicating that the market is surprisingly not bullish ahead of Nvidia’s (NASDAQ:NVDA) earnings release.
Therefore, I would anticipate that when IV declines, the calls will be crushed, driving the market down, rather than the puts, which would push the market higher.
Naturally, the market will be more optimistic if Nvidia releases unexpectedly strong results, wins big, boosts guidance much higher than anticipated, and maybe even announces a 10 for 1 stock split.
The wager will most likely turn a profit. However, it is impossible to forecast Nvidia’s outcomes or advice.
Nvidia CEO Jensen Huang said in a statement, “Our data center growth was fueled by strong and accelerating demand for generative AI training and inference on the Hopper platform.” “Beyond cloud service providers, generative AI has expanded to consumer internet companies, and enterprise, sovereign AI, automotive and healthcare customers, creating multiple multibillion-dollar vertical markets.”
The portion of Nvidia’s Data Center income that comes from hyperscalers like Microsoft (MSFT), Google (GOOG, GOOGL), Amazon (AMZN), and other Big Tech firms has previously alarmed Wall Street analysts. This is particularly true as those businesses release processors with built-in AI accelerators.
Large cloud providers contributed for about 45% of the company’s data center revenue, according to CFO Colette Kress’ own statement, despite the fact that the use of Nvidia processors by non-hyperscalers is increasing.
86% of Nvidia’s total sales for the quarter came from its Data Center division, which saw revenue grow 427% year over year to $22.6 billion. However, Kress noted that the company’s revenue from China decreased dramatically during the quarter as a result of the company being compelled to stop shipping its most potent chips to that nation. Furthermore, she stated that she believes the market in the area will continue to be extremely competitive in the future.
$2.6 billion was made by Nvidia’s gaming division, which was previously its most significant business.
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