Syz the moment

On paper, the results were great: ✅ Revenue & earnings beat expectations ✅ Guidance raised ✅ Record free cash flow But in the AI era, “good” isn’t good enough. Investors wanted explosive AI-fueled growth. What they got was solid execution — and that’s not what the market is rewarding right now. This is the re-rating of expectations in real time. IBM is doing a lot right, but markets are chasing narrative velocity over operational discipline. Source: EndGame Macro @onechancefreedm

EPS: $1.05 vs. $1.01 est. (+4.17%) YoY EPS growth: +54.41% ($0.68 last year) Revenue: $46.743B vs. $46.018B est. (+1.58%) YoY Revenue growth: +55.60% ($30.04B last year) Q2 FY26 Highlights: 🤖 Data Center: $41.1B 🧠 Blackwell AI surge: +17% seq 💰 New $60B buyback approved Q3 guide: $54B revenue 😤Note that the outlook does NOT include any shipments of H20 chips to China. Nvidia is excluding China data center revenue from future projections to give Wall Street a clearer baseline in an otherwise volatile environment. Bottom-line: Nvidia beat on revenue and earnings but didn't raise guidance. The result? It's down after market, but no crash (-2% to -3%). Source: Quant Data @QuantData, Day Trading News

"Production of Blackwell Ultra is ramping at full speed, and demand is extraordinary." - Jensen Huang Revenue growth by segment: *Data Center +56% *Gaming +49% *Professional Vis. +32% *Automotive +69% Source: Quartr

True, but I still find remarkable Nvidia is able to see +56% YoY growth when the quarterly revenues amount to $46.7B. That's crazy.

Nvidia now makes up ~8% of the S&P 500. It has a Trailing PE of 58x vs. 28x for the SPX (Gaap). It is forecast to grow 34% in the next year vs. 13.5% for the SPX. It is facing a growing number of competitors and a decreasing number of Global clients (China is discouraging the purchase of its H20 chips). It will probably report good numbers, but those good numbers must grow for a long time to justify its rating. Source: Brew Markets @brewmarkets, Vaughan Henkel, CFA, CAIA

Future estimates show $AMD vs. $NVDA revenue growth is worlds apart: $AMD expected to add: +$7B in 2025 +$7B in 2026 +$7B in 2027 $NVDA expected to add: +$71B in 2025 +$55B in 2026 +$45B in 2027 $NVDA is adding an AMD-sized company every single year! Source: @gainify_io

Nothing super about it.... $SMCI 🩸 Here’s how the company did in comparison with LSEG consensus: - Earnings per share: 41 cents adjusted vs. 44 cents expected - Revenue: $5.76 billion vs. $5.89 billion expected Source: Trend Spider

Companies are beating, EPS growth is more than double so far vs expectations.. but beats are barely getting paid, while misses are getting pounded a little worse. Source: Goldman Sachs, RBC