Nvidia (NVDA) reported quarterly results with earnings and revenue figures beating estimates. Morningstar equity strategist Brian Colello joins Yahoo Finance’s special coverage of Nvidia’s earnings report to discuss the chipmaker stock’s valuation following the print.
The strategist has a fair value estimate for Nvidia stock at $130, around where the stock is trading at the time of the earnings release. Colello explains, “There’s upside in the short term based on the high [capital expenditure] CapEx spending of the hyperscalers and Nvidia’s supply constrained and selling everything they can for 2025.”
Concerning the risk to Nvidia, Colello notes, “At what point do the hyperscalers optimize spending? If you think medium to long term, what’s the growth trajectory look like?”
He adds, “The hyperscalers … are completely reliant on Nvidia today, and they have all the incentive in the world to not be reliant on them in the future. We’ll see when that crosses over.”
Watch Yahoo Finance’s full Nvidia earnings special here:
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