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NVIDIA Q1: No China In The Guide, 75% Margins, And A Toug...
2026-05-21 · via All Articles on Seeking Alpha

Summary

  • I remain bullish on Nvidia because every peak-earnings call from the bears keeps meeting another beat and raise.
  • Given that the stock already anticipated strength after the hyperscaler results, China’s absence from Q2 guidance mattered more than the print.
  • I want to see how the company converts the $91B Q2 guide while keeping gross margin near 75% as Rubin starts to ramp.
  • Overall, I like the new reporting because it tells me where to watch for the bust of the AI supercycle. I think we're far from that. Therefore, I remain bullish.
Nvidia Corporation in China

Robert Way/iStock Editorial via Getty Images

Over the past few quarters, I have found myself coming back to the same question on NVIDIA Corporation (NVDA): how long can the market keep treating this story as if the earnings

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of NVDA, AMD, AVGO either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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