Questions why Nvidia stock has done nothing for 4 months despite Wedbush's $300 price target and transformational narrative.
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Argues market has 'glass half empty' view, but Nvidia's data center numbers are 'Michael Jordan-like' beats, 70B next quarter guidance is 500-700 bps above street, and AI bubble narrative is disproven.
Counters that market reaction suggests Nvidia's story is well-understood and priced in, and raises concerns about transition to Rubin architecture and potential CapEx deceleration.
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Responds that physical AI is less than 3% of revenues today but will be 15-20% in coming years, a factor not priced in. Street consistently underestimates demand.
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Addresses competitive moat: Nvidia is 3-4 years ahead of competitors, demand/supply is 12:1, and 75% margins show pricing power despite AMD/Broadcom/Microsoft/Google efforts.
Asks about competitive threat from AMD (Meta deal) and whether some customers don't need 'Michael Jordan' level chips, just 'average college coach'.
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Analogy: Nvidia is Michael Jordan, AMD is Scottie Pippen. AMD, Micron, TSMC will play huge roles due to spillover demand.
Asks jokingly who the 'Dennis Rodman' of chips is.
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Suggests Taiwan Semiconductor (TSM) as Dennis Rodman, Microsoft as Steve Kerr.