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港股概念追踪 | 英伟达(NVDA.US)发布强劲财报 受益AI核心标的有望继续高歌猛进(附概念股)

Hong Kong Stock Concept Tracker | Nvidia (NVDA.US) Releases Strong Earnings Report to Benefit from AI's Core Benchmarks, Expected to Continue to Advance (with Concept Stocks)

Zhitong Finance ·  May 23 09:34

Nvidia's total revenue and data center revenue both reached record highs, growing several times over the previous year, and the revenue guidance for the next quarter also exceeded expectations.

The Zhitong Finance App learned that in the early morning of May 23, Beijing time, Nvidia (NVDA.US) released the first fiscal quarter report for the 2025 fiscal year ending April 28. During the reporting period, Nvidia's total revenue and data center revenue both reached record highs, increasing several times over the previous year. The revenue guidance for the next quarter also exceeded expectations. It also announced a plan to split 1 and 10 shares and drastically increase dividends. The dividend per share rose from 4 cents in the previous quarter to 10 cents.

Specifically, according to financial data, Nvidia's revenue for the first fiscal quarter of fiscal year 2025 reached a record high of 26 billion US dollars, up 18% month-on-month and 262% year-on-year; analysts expected 24.69 billion US dollars, and the company's official guidance was 24 billion US dollars. Among them, data center revenue was US$22.6 billion, up 427% year on year; analysts expected US$21.13 billion; net profit rose 628% year on year to US$14.88 billion; the company expected revenue for the second fiscal quarter to be about US$28 billion (plus or minus 2%), which is higher than the previous analysts' expectations of US$26.8 billion.

Nvidia's most-watched data center business has once again reached a record high in revenue. In response, Nvidia CEO Hwang In-hoon said that the increase in data center revenue is due to strong demand for generative AI training and inference on the Hopper platform. In addition to cloud service providers, generative AI is expanding to consumer internet companies as well as enterprise, sovereign AI, automotive, and healthcare customers, creating multiple multi-billion dollar vertical markets.

Hwang In-hoon also said, “The next industrial revolution has begun — companies and countries are cooperating with Nvidia to shift traditional data centers worth trillions of dollars to accelerated computing and build a new type of data center — AI factory, to produce a new product such as AI. AI will bring significant productivity gains to almost all industries, helping companies expand revenue opportunities while increasing costs and energy efficiency. We are at the beginning of the next wave of growth.”

In terms of chips, according to Nvidia, the new chip Blackwell, which was announced to be launched in March this year, has already been fully put into production. Although the supply of GH100 has improved, the supply of GH200 is still in short supply. Demand for GH200 and Blackwell chips far exceeds supply, and this is likely to continue until next year.

Wall Street predicts that Nvidia's quarterly sales volume at the end of the current fiscal year in January next year will break through the 30 billion US dollar mark. Revenue for the second fiscal quarter may increase further to 26.67 billion US dollars, and revenue for the entire fiscal year may rise above 110 billion US dollars.

In terms of US stocks, Nvidia's stock price opened high and went low. At one point, it fell more than 2% during the intraday period. By the close, the decline had narrowed to less than 1%. According to reports, since this year, Nvidia's stock price has increased by nearly 92%, significantly outperforming the S&P 500 index and NASDAQ. In 2023, Nvidia's stock price surged nearly 240%; up to now, the company's market capitalization reached 2.3 trillion US dollars, ranking third in the US stock market after Microsoft and Apple.

It is worth mentioning that recently, major investment banks have raised Nvidia's stock price expectations. Morgan Stanley expects the target price of Nvidia shares to be 1,000 US dollars; HSBC has raised the target price to 1,350 US dollars (previously 1,050 US dollars).

Tianfeng Securities's May 22 research report indicated that it is expected that Nvidia's earnings report will exceed expectations, which is expected to give a catalytic boost to the AI computing power sector, and AI core targets are expected to benefit.

1. Optical modules & optical devices, key recommendations: Zhongji Xuchuang, Tianfu Communications, Xinyisheng, Yuanjie Technology, Changguang Huaxin, Bochuang Technology, etc. Recommended attention: Guangxun Technology, etc.

2. Switch sector, key recommendations: Ziguang Co., Ltd., ZTE; Recommended attention: Phillincox, Shengke Communications, etc.

3. PCB, key recommendations: Shanghai Electric Power Co., Ltd., recommended attention: Shenghong Technology, Shengyi Technology, etc.

4. Liquid cooling, focus on: Runze Technology, recommended attention: Invec, Kehua Data, etc.

5. Copper connections. Recommended attention: Wall Nuclear Materials, Dingtong Technology, etc.

6. AIDC, key recommendations: Runze Technology, Runjian Co., Ltd., Aofei Data, etc.

Related concept stocks:

SMIC (00981): In the first quarter of 2024, the company achieved revenue of 12.594 billion yuan (approximately US$1.75 billion), up 19.7% year on year and 4.3% month-on-month, setting the second-highest record for the same period in history (only lower than US$1,842 billion in the first quarter of 2022).

Huahong Semiconductor (01347): In the first quarter of 2024, the company achieved sales revenue of US$460 million, ending the downward trend in quarterly revenue, with a slight increase of 1% over the previous month.

ASM Pacific (00522): The company is the world's first equipment manufacturer to provide technology and solutions for all process steps of semiconductor packaging and electronic product production, from semiconductor packaging materials and post-processing (chip integration, welding, packaging) to SMT processes.

The translation is provided by third-party software.


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