Nvidia: Getting Clues On Outlook From Its Key Customers (Archive)

This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.

Elevator Pitch

• Hyperscalers are major customers of Nvidia Corporation. A deceleration in hyperscaler capex spending is expected in 2025, which can temper NVDA's revenue growth expectations.
• Blackwell shipment forecasts have started to be revised downward due to delays driven by issues of overheating again. Some customers are postponing their orders for later versions of the product.
• On the bright side, NVDA stock has become less expensive, trading at a 17% discount to its 5-yr median levels on a 1-yr fwd P/E basis.
• I am still a keen buyer of NVDA, and I am waiting for a retest of monthly support on NVDA vs. S&P 500 to add to my positions.
• Nancy Pelosi has a terrific investment track record, which makes her portfolio moves worthwhile to track. Over the last couple of months, she has been unloading NVDA shares.

Read the full article here.