November were diving into all of todays fast money movers. Im melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, karen finerman, courtney garcia, and the bitcoin baller himself, brian kelly. Great to be back. And we start off with the most anticipated Earnings Report of the season. Nvidia shares at alltime hikes after posting a top and bottom line beat for q1 guidance for the Current Quarter coming in above expectations the chip giant also announcing a 10 for 1 stock split and a dividend hike. The Conference Call just kicking off moments ago. Kristina partsinevelos is here to break down the quarter. Hi. Investors got what they wanted earnings beat, revenues matching buy side pexation expectations. Same for the q2 revenue guide, came in at 28 billion q2 margins are expected to drop to mid 70s, exactly what the company warned about in the previous call. So, overall, the companys fundamentals still in tact saw that with the beat in the numbers. But they do match buy side expectations, which is why youre not seeing as much of a stock reaction Data Center Revenue was the main driver record sales you zoom out on the year and that shows revenues up 427 . Jensen huang saying customers have moved beyond Cloud Service providers, which, by the way, contributed 40 to Data Center Revenues, but now, they have Internet Companies as customers, enterprise, sovereign a. I. , auto, and health care. The cherry on top, like you talked about, the 10 for 1 stock split effective investors will get nine additional shares after market close on june 6th the company also announcing its Quarterly Dividend by 150 increase all of this is talking about the Company Giving money back to the shareholders, employees, investors, et cetera so, a big beat and im going to get back on the call kristina, before you go, were you talking about revenues attributed to Cloud Data Centers and it moving away, diversifying yes so, previously, the last quarter, in q4, 50 of revenues came from Cloud Service providers. Now, this quarter, and the cfo commentary is on their website, 40 . So, youre seeing the number decrease, and instead, in the press release, jensen huang is saying it is including Internet Companies, enterprise, sovereign a. I. , theyve talked about that, auto and health care so, they are getting more verticals, as they put it. Kristina, thank you keep us posted on the call will do kristina persartsinevelos for us karen . Yeah, so, the bar was really high, and they did a nice job of stepping over the bar. Jensen huang, besides being Just Brilliant in building a company that is at the forefront of a. I. , is also really good at managing the street. Thats sort of, i think he uses that as the other part of the job. We havent heard from him. This stock split, the dividend thing, i dont think it really matters, but the stock split, you can have a host of other investors that have sort of been shut out so, hes doing great job managing, again, hes in the business of underpromise, overdeliver. And i really want to hear about what kind of demand hes seeing. That, to me, as soon as the earnings come out, theyre irre irrelevant did it beat, did it not, okay. What does the rest of the story look like . And the commentary, in transitioning from their current chip to another, blackwell, if theres going to be any sort of holding back in anticipation of the launch of that new chip. She said the bar was cleared big fan of the show, dick fosberry, this was no flop, but in other words, he got over a big bar. That was why he he invented the flop but nvidia, if you think about the 27 run into the numbers, if you think about the data center growth, if you think about where i think they are going to hit. Theres no wons with that. We heard theres only, you know, 8 or so last year, so, demand is there demand is there, and certainly, the new segments, and as we get into other parts of the business, it is what were hearing more about it is about autos and cpu. So, you want to know where that demand is coming from. You want to know the entire platform that allows them to kind of have this circular, you know, reinforced dynamic i think i think its all here this, to me, is a huge relief for the market, and well get into that. But 4 move, i think this stock split is very important. Even though we all know means zero, except for it means something. Yeah, but i mean, listen, they go up, right . Thats exactly the point when i go buy the ice cream cone, they dont ask me, did you get this money from a stock split or not they still take my dollars so, i think in these earnings, if theres anything, any knock at all that you see in this, its probably the gaming sector, which is a tiny little sector. And Everything Else is looking good so, i dont know what else you would want from this it is a beat now, as the trader perspective, i want to see this thing trade up and close through 975 tomorrow, which it is doing now, but we still have the ceo to speak. And that will give me a heck of a lot of confidence that the momentum is continuing higher. Yeah, and i think thats really important here is the demand story everybody thought you were going to see a weakening in demand as blackwell is waiting to come out. But they said demand is accelerating so, its going to be interesting to hear what they say later, but its very indicative that this has a lot of room to continue to run. As long as the demand is there, its absolutely going to benefit nvidia the implication of revenues coming more away from data center is that all these other parts of the business are, in fact, growing. That is sort of the tailwind that we were waiting for, its not just the hyperscalers, but other people, other enterprises, are also investing in a. I. At the same pace, so, you want to see that sort of go down the chain, so to speak, in terms of companies. And it will think about all the places we invested in nvidia before we knew what they were doing in a. I. , or maybe we knew it. And i would get into the industrial usage i think its a really exciting place. Its where i gets exciting for other people, too, they are known to be in the auto space for thechips you can talk about qualcomm or and you also think about the memory chips and weve seen the move, of course, and the impact in, say, a micron, et cetera so, this supports the trade. That kind of commentary supports the entire trade thats broadening this market, and again, to me, this is a huge relief for people. For people that wanted to buy nvidia, and a lot of people still wanted to buy weakness, theyre happy that actually, you know, people that just recently bought it, this is reinforcing the story. Just one other thing. The top line was better, the gross margin was better. Also, their expenses were better so, a lot of great things going on and the diversify case you talked about in terms of who their customer is, thats a really great thing and its giving a lift to other a. I. Players yes the whole complex. Amd is up what is it, 1 right now we also see supermicro higher, dell, your dell. Well, thank you well see. Its been good trading higher. But this is validation that all these other plays, and tits not just the chip makers anymore theres enough to go on here for software, et cetera, maybe well see that sort of transfer. Right and its expanding even outside of tech, right just after close, the announcement theyre going to have a deal with openai. Stocks up a couple percent there. So, the theme of a. I. Eating the world, changing every single business out there, continues, and i think thats really good for the market but there was a lot of concern today with the market where its been been, the expectation, that could derail the market, even if there was just a baseline, oh, it got there, and it was okay. But this is this is what the market needed. So, the question then arises, at what point do you start trimming back on an nvidia and putting it into Something Else, if a. I. Is, in fact, eating the world, and we are seeing proof of it, not just through nvidias quarters, but through the earnings weve already got son far this quarter yeah, you definitely dont want to bet against an nvidia or a. I. , it absolutely a play you want to be in. But if you havent made changes, you are going to be overexposed there. I dont think its a bad time to add to other areas youre talking about all these other things that are going to benefit from a. I we havent talked about the energy play. You have copper, energy, thats another industry thats going to benefit from the structural changes in Artificial Intelligence and its a really good valuation to add here. So, im not getting out of it, but taking some profits, taking advantage of other opportunities, you absolutely want to look at that dell reports next week, actually had a very bullish note yesterday saying that were going to see dell top estimates, they are very high right now, and the stock has virtually doubled so far this year yeah. And its not crazy expensive now, a lot of things are converging at the same time for dell this relationship, storage, servers, also, you have enterprise spend coming back and i think were going to see a stronger pc quicker and stronger pc refresh than we have, as they become a. I. Native, or the copilot, you know, button is on it, and so a lot of great things happening, and i think they are just going to be generating a tub of cash yeah, i think you have a case here where not only the Market Dynamics are reinforced, but i think youve given life to some of those industrial plays. This is only going to reinforce a margin story, you cross it i think if you think about what we wanted to hear from this company, first of all, there is still a lot of didigest i think there are a lot of people that really were hoping this was going to be a tough number i think people wanted this opportunity to buy it weaker and this is this is almost the event right now, again, the stocks move this is almost a nonchalant move it was a year ago when we really first started getting blown away by nvidias numbers. And if you think about this move today based on those numbers, i think its good news, not bad. I mean, one could almost make the argument that this move in the afterhours session is all stock split. I mean, you know right because its sort of it stepped over the bar you used the what was that gentleman. Fosberry. Big fan of the show. Hes watching right now. That doesnt speak to a blowout quarter here well but if the bar is that high, thats my point, i mean, dick fos berry got over some high bars you wore a black jacket and jeans everywhere he went yes but ill just say this about the multiple for nvidia, relative to the market, it gets back to always on some level valuation, and i know the numbers are ones us with play around with with a stock thats moved this much, but nvidia is trading at 1. 7 times the s p multiple, which is very cheap to its tenyear average, so, you know, its not like its really expencive. I would make that argument and if you have this type of growth, you can probably trim some and talk about the other things you want to do. One more i would add in there is apple. If theyre going to refresh their phones and computer with a. I. Native, thats going to be in a completely different story there. But i mean, you know, apple is up a bit, were not the first people to discover this. I would be a buyer of apple around 180 on that news all right, lets get more on nvidia from chris rolland. What is your take on this quarter . What are the questions you still have in your mind for the Conference Call . Yeah, i think you guys covered it really well this was just a little bit better than buyside p expectations, with that stock split for the retail crowd, to get them going, as well. We are all as analysts focused on really the last two quarters of the year, and its this transition to b100 and gb200, thats really what matters here. These are really compelling products from a Price Performance standpoint theyre super compelling, theyre better than h100 and h200. From a power perspective, these guys are bringing in liquid cooling, so, from an energy perspective, its going to use less and were just worried about a potential little gap in q3, q4. That would be our biggest worry and anything they would say on the call to alleviate that would be helpful so, the company in the press release tried to make the case that theyre seeing demand actually accelerate, despite this transition thats to come later on this year you think, though, if there are any hiccups in terms of Companies Holding back and waiting for that blackwell offering, that it wont happen until the second half. Yes, thats right right now, theyre being helped by the h100 to h200 transition, where they get twice as much memory well have b100 later in the year, and any delays in in the gb200 product in 2025, that would increase the probabilities of that kind of revenue gap that were talking about. So, that thats how were thinking about it. Chris, its karen thanks for being on. So, what are you seeing for h200 pricing . And how do you think that evolves, how do you think that plays out, as people look to switch later yeah, this is really all about memory, and nvidia passing those margins, those memory margins, onto their customer for us, Gross Margins were good, perhaps a little bit light maybe they werent able to pass on all of that memory costup that we would have expected. Probably not in, you know, 80 range that they get for typical Data Center Products but so far, h200, the transition looks pretty good chris, talk about the broadening that we were talking about in terms of where this business is going, but obviously, new by the way, sorry to interrupt, nvidia hitting 1,000 a share as we speak in the afterhours makes for a nice even 100 on a 10 to 1 split. So, yeah, talk about other sectors where, again, you know, maybe these were places in a past life we actually talked about with nvidia, but you know, whether it is auto, cpu, what gets you excited here to look at the future yeah, i think thats a little bit confusing, because weve been so supply constrained that you would hit your largest and best customers first and work down to the enterprise over time so, this is a broadening, but it may be more of a supply dynamic overall. But as we move forward here, things like omniverse, enterprise, onprem, a. I. , theyre going to be more important, and you will see a broadening overall, just maybe not as quickly as this report kind of signifies. And chris, in terms of the hiccup that you might be looking for, questi3, q4 timeline, is something you look through, or is that a real stumbling block that could impair the business in any way we would be looking through it we think the gb200 products are incredible these are basically, you know, full super computers, connecting 576 gpus into one single, look, wholistic cluster theres nothing else like that on the market but we dont know if investors are going to look through it in the same way i would imagine a hiccup in the stock price, you know, kind of correspondent with the numbers chris, great to get your take thank you so much. Thanks, guys. Chris rolland, a 1,050 price target on the stock. The stock hitting 1,000 brief in the afterhours session. Whats your take on the price action seems to continue to get stronger i think chris is going to have to take his price target up, because were going to be there before the end of the show, another 50 bucks is not that much. But again, if you talk about momentum, we talk about the different traders that are going to come in here, a breakout of this type of proportion is going to get a lot of people excited about it retail traders, momentum traders. As long as we can hold these gains, i do think that momentum continues. And the retail trade, weve seen it, it can be powerful when it wants to be, and 100 bucks a share might be the point and not terribly discriminate on necessarily valuation, which i think is fine. But also looking more at really the secular and the dynamics that i think this company in the position it has, both in their lives and in the concept of where, you know, we think the economy is going i think this is a relief to buy for people that didnt own the stock. Its confirmation, it gives you at least another runway of a quarter or two and might give us confirmation for the market rally. Yes s p records here. This was the last sort of test, right, for the rally here . I think you can exhale and and they did they delivered all right well of course keep you posted on the Conference Call, which is ongoing right now, as shares hit 1,000 in the afterhours session. Weve got a news alert here on pfizer and moderna seema modi has all the details melissa, the u. S. Is in active conversations pfizer and moderna on a potential vaccine for humans, thats according to a reuters report it follows the cdc confirming a second human case of h 5 n 1 bird flu tied to this dairy cow outbreak in the u. S. A little bit of context, its not clear at what level these talks are happening, and how far theyve progressed, but its not uncommon, of course, for the government and the vaccine makers to have these conversations. Its happened a lot over the past couple of years, as we come out of covid we have reached out to both companies, were looking at shares of pfizer and moderna higher in afterhours, melissa. Seema, thank you. Two holders of pfizer here on the desk, long suffering shareholders on lifts on this vaccine news. Avian flu, it wont be as pervasive, i would imagine, as covid was during the pandemic, but this could help a little bit. Yeah, although, as a pfizer shareholder, i dont want to hear anybody about paxlovid or anything related to covid vaccines, because its been an albatross. What was successful, gave the company substantial windfall, which they reinvested in new pipeline, we havent determined whats going to pay out of that yet. The costcutting is interesting. Look, at some point, you had to see some catalysts for the stock, which was taking a long time to bottom this is incrementally good news. This news doesnt mean a whole lot to me. The new costcutting announcement on top of cost cutting that was announced at the end of last year is an increase in that yeah, i mean, i like that they continue to find costs, i just wonder why they didnt find it last time but the stock really has been so bad you make the most money when a stock goes from terrible to just bad. Is it just bad now