文章核心观点 - 比特币价格在9月2日小幅上涨,但8月份表现不佳,下跌超过7% [1] - 多重因素影响比特币价格,包括通胀担忧、Mt. Gox交易所清算等 [2][3] - 9月可能是比特币及相关股票的考验期,但投资者对联储开始降息后比特币反弹持乐观态度 [4][5] 行业和公司总结 行业概况 - 比特币价格在2023年初大涨,但后来一直在区间震荡 [2] - 4月的减半事件并未推动比特币价格上涨,反而出现大幅下跌 [2] - 随着通胀逐步下降,联储即将开始降息,有利于加密货币等高风险资产 [4][5] 公司概况 - NVIDIA是视觉计算技术领域的全球领导者,目前业务已拓展到人工智能等领域,预计今年盈利增长超过100% [6] - 交易商Interactive Brokers提供加密货币交易服务,今年预计盈利增长18.4% [7] - 交易平台Robinhood允许用户交易比特币、以太坊等加密货币,今年预计盈利增长超过100% [7][8]

Sundry Photography Our firm extrapolated supply chain data to conclude that Blackwell is in production at Taiwan Semiconductor (TSM) and Super Micro Computer (SMCI) last week in the analysis: Nvidia Stock: Blackwell Suppliers Shrug Off Delay. The media was making much ado about nothing (and astonishingly, still is) despite crystal clear confirmation from Nvidia’s (NASDAQ:NVDA) management team that all is well. Given these delay rumors, it was widely expected that Nvidia’s management would provide some t ...

BING-JHEN HONG Last week, all eyes were on chipmaker Nvidia (NASDAQ:NVDA) as the company released its fiscal second quarter results. While the chip giant showed solid top and bottom-line beats, and also issued current guidance that was above the street's estimate average, shares sold off more than 6% the following day. At this point, the company is working to digest some growing pains, but the long-term future here still looks bright. Previous coverage on the name: It was back in late May when I covered ...

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

Wall Street appears to have a lot of "bullish bears" or "bearish bulls" when it comes to Nvidia.By most standards, Nvidia (NVDA 1.51%) hit the ball out of the park with its fiscal 2025 second-quarter results. The company reported record revenue of $30 billion, a 122% year-over-year increase. It posted earnings that soared 168% from the prior-year period. Nvidia's guidance projected even higher revenue next quarter. And yet the stock sank after these stellar numbers. Although Nvidia exceeded Wall Street esti ...

Nvidia, Super Micro Computer, and Royal Caribbean were the three fastest-growing stocks in the S&P 500 during the last two years.Artificial intelligence and pent up travel demand have been powerful catalysts for the post-pandemic stock market. Consider the three best-performing stocks in the S&P 500 (^GSPC 1.01%) during the last two years, as listed below:Nvidia (NVDA 1.51%) shares advanced 775%.Super Micro Computer (SMCI -2.48%) shares advanced 591%.Royal Caribbean Cruises (RCL -1.33%) shares advanced 302% ...

Nvidia's gross margin disappointed last quarter. That could be an area of future focus.Shares of Nvidia (NVDA 1.51%) sold off after the company's recent earnings report and are now down about 11% from their all-time high.Nvidia is still posting excellent growth, with revenue up 122% in the quarter, ahead of analyst expectations. But with the stock exceeding a $3 trillion market cap and expectations extremely high, Nvidia sold off anyway following the release.One reasons could be concern over the company's g ...

报告公司投资评级 - 目标价 145 美元,买入评级 [19] 报告的核心观点 数据中心业务 - 数据中心业务持续超预期,Blackwell 加速生产 [9][6] - 大型 CSP 占数据中心收入 45% [9] - 网络产品收入同比增长 114% [9] 游戏业务 - 游戏业务稳定增长,PC 销量回暖带动显卡销售 [13] - 发布基于生成式 AI 技术的 NVIDIA ACE [13] 专业可视化和汽车业务 - 专业可视化业务收入同比增长 20% [16] - 汽车业务收入同比增长 37%,未来 6 年汽车芯片订单从 110 亿美元上升至 140 亿美元 [16] - 机器人业务采用 NVIDIA Isaac 平台 [16] 软件业务 - 软件年化收入接近 20 亿美元,主要来自 NVIDIA AI Enterprise 和 NIM [12] - NIM 使英伟达加速并简化了传统企业的模型部署 [12] 财务表现 - 2025 财年 Q2 收入 300 亿美元,同比增长 122.4% [4] - 毛利率为 75.1%,低于预期 [4] - GAAP 净利润 166 亿美元,同比增长 168.2% [4] - GAAP 摊薄每股收益 0.67 美元,高于预期 [4] - 公司共以回购及股息形式向股东返还 74 亿美元 [4] - 公司未来三年预测收入 CAGR 为 52%,EPS CAGR 为 59% [19] 风险因素 - 芯片市场竞争风险 [21] - 技术路线风险 [22] - 自动驾驶系统竞争风险 [22] - 中美关系风险 [22]

文章核心观点 - 尽管英伟达(Nvidia)的财报数据显示了惊人的增长,但股价却在公布财报后下跌,市场对此并不买账 [1] - 英伟达的数据中心业务再次引领增长,营收同比增长154%至262亿美元 [2] - 英伟达预计第三季度营收将达到325亿美元,主要得益于Hopper架构的增长和Blackwell架构的出货 [3] - 英伟达表示Blackwell架构的需求"惊人",并预计第四季度将确认数十亿美元的Blackwell收入 [3] - 英伟达认为未来几年对于更强大的AI计算能力的需求将持续增长 [4] - 尽管英伟达的估值相对较低,但投资者担心其客户是否能从AI投资中获得回报 [5][6] 根据目录分类总结 公司业绩 - 英伟达第二季度营收同比增长122%至300亿美元,调整后每股收益增长152% [2] - 英伟达的数据中心业务营收同比增长154%至262亿美元 [2] - 英伟达第三季度营收预计达到325亿美元 [3] - 英伟达第四季度将确认数十亿美元的Blackwell架构收入 [3] - 英伟达拥有260亿美元的现金和可流动证券 [3] 行业趋势 - 未来几年对于更强大的AI计算能力的需求将持续增长,可能需要10-40倍于上一代的计算能力 [4] - 大型科技公司正在大幅投资AI,但投资回报仍存在不确定性 [5][6]

整体业绩 - FY25Q2 营收和净利润持续提升，Hopper GPU 计算平台强劲需求驱动数据中心业务营收破百亿美元 [8][9][10] - FY25Q2 数据中心业务成为营收增长的核心驱动力，收入同比高增154%,环比增长16% [13][14] - 游戏、专业可视化和汽车业务收入也实现环比增长 [12] AI算力需求和供给 - AI算力产业链高景气持续,云厂商持续加大投入,大模型性能升级提振长期需求 [21][22][23][24][25][26] - CoWoS产能持续扩张,HBM3E量产在即,助力Blackwell平台量产出货 [28][29][30][31] Blackwell平台 - Blackwell生产延期问题可控,预计FY25Q4出货并贡献数十亿美元营收 [32][33] - Blackwell家族产品类型丰富,机架通过解耦式交付实现灵活和定制化部署 [33][34][35][36][37][38][39] 其他应用场景 - SIGGRAPH大会上英伟达发布NIM和Omniverse,赋能工业、机器人、营销等多应用场景 [40][41][42][43][44][45][46] 盈利预测和估值 - 我们上调英伟达FY2025-FY2027年GAAP净利润预测,维持"买入"评级 [47][48]