Nvidia could shine again when it reports on Wednesday

Nvidia could shine again when it reports on Wednesday

Nvidia NVDA will report quarterly results next week, and the year-over-year comparisons will once again be stunning as the company continues to dominate the graphics processing unit (GPU) market. Last year, it was a fairly new market as data centers sought to deploy GPUs and related hardware to support the expansion of artificial intelligence technology to their enterprise customers.

Nvidia is having a strange fiscal year – Wednesday's report covers the fourth quarter of fiscal 2024, which ended on January 29th. Since the year-over-year comparison of quarterly results will be so extreme, here is a look at the last four fiscal years of quarterly results as well as consensus estimates from analysts surveyed by FactSet for the quarter published on Wednesday. Sales figures are in the millions.

Estimate for the quarter ending January 29, 2024

The quarter ended on October 29, 2023

The quarter ended on July 30, 2023

The quarter ended on April 30, 2023

The quarter ended on January 29, 2023







Change compared to the same quarter of the previous year






Change from previous quarter






Earnings per share






Change compared to the same quarter of the previous year






Change from previous quarter






Source: FactSet

Nvidia's quarterly revenue increased in the quarter that ended April 30 and accelerated from there. For the quarter reported next week, year-over-year sales growth is expected to be incredibly high again. However, analysts expect sequential quarterly revenue growth to slow to 12% from 34% in the previous quarter.

Read: Nvidia is expected to be the best performer in the S&P 500 by 2025

Ken Laudan, portfolio manager of the Buffalo Large Cap Fund BUFEX BUIEX, said in an interview with MarketWatch on Thursday that analysts' estimates are conservative because even “hyperscalers” among data center operators have “bought all the GPUs they can get.”

He expects 2024 to be another year in which the “AI enablers,” or companies that make GPUs and related devices, such as Nvidia and Taiwan Semiconductor Manufacturing Co. TSM, as well as cloud service providers (Microsoft Corp. MSFT , Amazon.com Inc. AMZN and Alphabet GOOGL

) will continue to dominate AI-related investments.

Laudan expects the focus of AI expansion to shift to “AI adapters” in 2025 or later. He described this group as “software-centric companies that sell their customers a large-language AI model on top of their enterprise or vertical software stack.” This could include companies like Adobe Inc. ADBE, ServiceNow Inc. NOW, Salesforce.com Inc. CRM , MongoDB Inc. MDB and Snowflake Inc. SNOW, he said.

More coverage of Nvidia:

  • Nvidia Announces Positions in SoundHound AI, Arm – and These Other Stocks
  • Barron's: How Nvidia plays Apple's game, only much faster

A warning: Bullish bets on Nvidia, other “Magnificent Seven” members approaching their most crowded levels in the past year

Another AI game: Cisco could be a late bloomer when it comes to generating big AI revenue

Lyft's (corrected) numbers look good – and Uber is making a big move

On Tuesday, Lyft Inc. LYFT reported its fourth-quarter results that included a typo in the company's 2024 forecast. An initial aftermarket rally sent shares up as much as 60%, but that gain was erased when Lyft issued a correction .

But Lyft shares were still up 35% on Wednesday before rising another 16% on Thursday. The stock is up 27% in 2024 through Thursday, but it's been quite a ride, as you can see in this chart for the stock's and its rival Uber Technologies Inc.'s year-to-date returns. ABOVE:

Bill Peters broke down Lyft's results.

As Therese Poletti explained, Lyft may have made a reporting error due to its excessive use of jargon.

Uber also made waves this week when it announced a $7 billion share buyback program, the company's first step toward reducing its share count.

More: Uber has just started flexing its platform muscles: Can other gig economy providers keep up?

Worrying estimates underscore the importance of saving, planning and long-term investing

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Questions about retirement

In her “Help Me Retire” column, Alessandra Malito offered suggestions for a 60-year-old who is considering whether to withdraw $250,000 from a 401(k) account to pay off a mortgage loan.

More help: I'm 58, make $4,400 a month and want to retire at 60. Is that possible? Do I really need to replace 80% of my income?

Signs of an upturn in the IPO market

Rising interest rates dampened the market for initial public offerings of stocks last year as fundraising by venture capital firms fell. But there are now signs that volume is increasing, as Steve Gelsi reported.

Another way to go public: DWAC is rising over 15% as it looks to buy Trump Media & Technology Group – but there's a potential catch here

The big step

In the Big Move column, Aarthi Swaminathan works by the numbers with readers making decisions about buying or selling homes:

  • We rent our $750,000 home with a 2.5% mortgage rate for $4,000 a month, but the tenant is moving out. Should we sell now or later?
  • We're in our 60s, retired, and making $300,000 in passive income. We want to buy a house for our daughter. What could go wrong?

You can find more information about the real estate market here:

A contrary piece

Mark Hulbert polled investment letters to find out which industry is currently the most popular on the stock market – you might be surprised.

Something else for lateral thinkers: Growth stocks are outperforming value stocks by the largest margin ever recorded. Why that could soon change.

A lunar launch and a binary event for a stock

Shares of Intuitive Machines Inc. LUNR rose 15% Thursday after the successful launch of a SpaceX Falcon 9 rocket carrying what is expected to be the first commercial U.S. spacecraft to land on the moon and the first U.S. landing there since 1972. Intuitive Machines built the Nova-C lander, which is expected to land near the moon's south pole next week.

James Rogers has been reporting on mission milestones since launch.

Financial crime – a high profile

Lukas I. Alpert writes the “Financial Crime” column. This week he told the story of Mani Chulpayev, who was able to continue his criminal activities for many years while acting as an informant for investigators and prosecutors.

More from Luke I. Alpert:

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