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Investors are questioning whether or not Nvidia can keep out performing its past growth, and our next guest is raising some concerns about Nvidia's overall valuation. Here with her take on the latest results is Beth Kindig, IO Fund lead tech analyst. And Beth, look, we did have lofty expectations heading into this report. Nvidia did deliver but not at the level that Wall Street was expecting. So, is now the time for investors to recalibrate their expectations when it comes to this company?

Hi, so good to see you the day after Nvidia reported. I'd push back on that. Nvidia had a great report. Uh the information had reported, this is a news, uh this is a media outlet that data centers would not be stood up in Q1, that would run into Q2, completely thrown off the table last night. Several billions of dollars of Blackwell in Q4 data centers will be stood up in Q1. That is what investors were expecting. That is what Wall Street was expecting. That's why things are being revised up and they were never revised down. Wall Street obviously is very closely tied to estimates and we never saw revisions downward based on the so-called delay. That's what you want to piece together here is, is Nvidia coming in according to what Wall Street's expectations are, or are they beating? They beat and they're saying Blackwell is basically on time. So, I would push back on that. We cover this stock very, very closely. Blackwell is not a concern, if anything, it's extremely bullish. Uh there was some production numbers buried in their report up 48% quarter over quarter. Could not be more bullish in terms of Blackwell. Now, the valuation, when you have a high flyer like Nvidia, can get stretched at times. Going into the print, we warned our members that, you know, this valuation's looking a little toppy. Uh what we need is for the fiscal year estimates next year to go up. So, we're in a waiting game for analysts to revise their estimates upward, which eventually they will, but until then the valuation is stretched.

Okay. So, if the valuation is stretched, then where does that put them on the pathway towards reaching some of the targets that you've set forth? You have some of the kind of loftier long-term expectations on a market cap front for Nvidia. I believe we were talking about 10 trillion dollars last time you came on. And so, for Nvidia to really hit that in stride over years, what do you see as the pathway towards growth into that?

The pathway to growth is to pay very close attention to Nvidia around the fiscal year guide. That is always Nvidia's big moment, number one. Number two, the second biggest year uh moment of the year for Nvidia will be when Blackwell is shipping in volume. Uh this will be your Q2 report, but we'll get some signs in Q1 with that forward guide. It's going to be uh fireworks is how I would put it. Absolute ultimate fireworks for Blackwell will come in Q1 with that Q2 guide. You have to really realize that these guys are on a product release cycle. Therefore, Hopper was out, you know, roughly two years ago. Uh began shipping in October, stock was down 60%. The following Q1 and Q2 report in 2023 were blowouts. So, you have to understand that there's a shipping cycle that occurs for this company. Media, uh some media outlets have blown that out of proportion. It's absolutely on time. Early next year will be fireworks again for Nvidia and we will be on track for that 10 trillion.