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# NVIDIA: Getting Some Mixed Signals (Archive)
- URL: https://www.huntingalphas.com/nvidia-getting-some-mixed-signals-archive/
- Published: 2024-11-25T16:47:00.000Z
- Updated: 2026-02-28T03:14:33.000Z
- Description: NVIDIA’s growth remains powerful, but rising customer insourcing and capex cuts signal caution.
- Author: Vish (Hunting Alphas)
- Tags: 5-Minute Pitches, #noindex, Archive, #sa-origin, NVDA, Tech

*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

- For the first time in NVIDIA's upcycle, there are broad downward revisions in expected capex from key customers. This, along with emerging in-sourcing trends are brewing headwinds.
- The impact of insourcing on pricing and a margin dip as Blackwell production ramps up may dampen margins for at least a year, and likely more.
- Valuations are more appealing now at a 1-yr fwd PE level of 36.0x. NVDA stock is still seeing strong fundamental earnings growth.
- Relative technicals vs. the S&P500 remain in bullish flow, but new buy entries may be riskier as the ratio prices are currently at a key weekly resistance level.
- The extent of revenue guidance beats vs. consensus has been falling over the past 6 quarters, indicating that NVDA stock is increasingly getting more 'priced in'.

Read the full article [here](https://seekingalpha.com/article/4740104-nvidia-getting-some-mixed-signals?ref=huntingalphas.com).

#### Disclosures and Disclaimers

**Past performance ≠ future results. Not investment advice. See* [**full Disclaimer*](https://www.huntingalphas.com/disclaimer/)**.*