저자: JoseNajarro · 외국인
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엔비디아(NVDA) 2분기 실적(매출 38.7억달러, 전년비 +50%, non-GAAP EPS 2.18달러로 컨센서스 상회)을 근거로 장기 성장주로서 매력이 있다고 평가. 데이터센터 매출 급성장(+167%)과 Mellanox 인수, 메르세데스 벤츠 자율주행 파트너십을 긍정 요인으로 제시. 매출 성장률 예측치(연 14.8%)가 업계·시장보다 낮은 점은 약점으로 언급. 시가총액 3000억달러 수준에서 장기 3배 가능성 언급, 변동성 대응으로 분할매수(DCA) 중이라고 밝힘.
다듬은 글
on today's episode we are going to take a look at one of my favorite stocks out right now and that is nvidia ticker nvda this one is easily on my top 10 list right now and on today's episode i want to take a look at the information provided in the earnings and i just want to take a closer look at nvidia to see if i'm still willing to purchase at this times so today's episode is going to be broken down the following first i'm going to start off just taking a look at price performance the quick look at the company's valuation and there are over a quick overview of the earnings after that i want to take a look at their future expectation growth and their past growth i want to see how has nvidia grown in the past in the past years and is it expected to grow in the upcoming years right i'm not here to invest in companies that are not expected to grow following that we're going to take some highlights of their earnings taking a look at their financial documents and pretty much at the end i'm just going to end up giving my thoughts of the company and like always if you are new to my channel if you are a long-term investor and if you want to learn about growth stocks make sure to hit that subscribe button to all my returning viewers thank you for all the support and like always if you want to get in contact with me youtube comments twitter my discord channel my my newsletter all of that information is free for anybody that wants to join but remember all of this is just my opinions i am by no means a professional so none of this should be taken as advice besides that let's get started all right and shout out to all the new members that have joined the membership program that are supporting the channel like i said all the information here is free but if you want to support the channel make sure to hit that join button thank you guys for all the support i truly truly appreciate it let's take a look at nvidia right now so right now it's sitting at 485 dollars at the end of the day after hours is actually up a bit it's up to 487 in the past year this company has returned amazing results to investors about 183 183 in the past year year to date it has given investors about a hundred percent almost doubling your money in less than a year that that to me is ridiculous right now the market cap of nvidia is sitting at about 300 billion dollars and to me right saying a trillion dollar market cap is insane it's ridiculous but i'm not saying it would happen anytime soon but for me a company that i can see in the future hitting a trillion dollar market cap would be a video with everything they have in line and that's something we're gonna take a look at so for me nvidia is still easily a three bagger in the long term of things remember i'm more of a long-term investor so i care about the long-term growth the volatility that happens in between is just noise for me i'm looking five ten years in advance all right so let's take a quick look at the overview of their earnings so they reported earnings august 19th 2020 quarter two non-cap earnings per share were two dollars and 18 cents and this actually beat expectations by 21 cents gap earnings per share were 99 cents and it missed by two cents the first thing i can see is this company is profitable in both non-gaap and gaap earnings per share and that to me is really good news right obviously i knew that they are profitable i just want to share that to you guys the revenue for this quarter was 3.87 billion dollars and listen to this it's up 50 year compared to the same time last year and it beat expectations by 210 million that's almost a b of over 5 and that again shows the strength of this company all right now that we took a quick look at their overview let's take a look at the future growth for this company so the first thing we we mentioned right is nvidia is profitable and is expected to maintain be profitable for the upcoming years all right so next let's take a look at that revenue growth uh nvidia on average is expected to grow 14.8 annually for the next three years right this doesn't mean every year from now is going to grow 14.8 this year it can grow about 20 percent the next year it can grow like 15 and the year after that can grow like 9 on average it will give you somewhere around 14.8 percent for the next three years and that's faster than the industry and that's faster than the market and that's impressive right that's what you want to see you want to invest i invest in a company that is expected to beat the market and the industry why would i want to invest in a company that is slower than the market might as well just invest in the market at that moment why would i invest in a company that's lower in the industry it means it's not the leader in its industry so it's not a company for me um unfortunately right if you guys have been following my channel normally i take a look at high growth stocks ones that are growing over 20 annually but i do believe nvidia is in markets that and we're going to talk about that in a bit all right markets that i'm very very bullish on the gaming the data center are two of the markets that i believe are are a huge potential in the upcoming years unfortunately earnings for this company is going to be growing slower than the industry is lower than the market that's a negative rate it's going 17.1 annually on average for the next three years where the industry is expected to grow 24.3 and the market is expected to grow 24 but we can see right now this company is profitable and and for those that like a nice growth dividend um nvidia does pay a bit of dividend and i think we're going to see that in a bit one thing before we take a look at their pass growth i was looking at who their top shareholders were and for a company that has a market value of over 250 billion right what the what do we say its market cap was it was closer to 300 billion dollars for me to see their ceo being such a huge such being one of the top 10 shareholders it's pretty impressive right there the ceo of the founder who's also the ceo of the company who's also a co-founder owns 3.5 of the company you might be like jose that's such a little bit there's not many companies out there right now where where the ceo especially one that has such a high market cap like this owns such a high value the only ones i can think of are probably amazon um tesla of course i think moscow is like 16 of of equity as top shareholders and some of the big ones like that but there's not many um that you can find i just want to share that with you guys next i want to take a look at their past growth see how nvidia has done so let's take a look at the past quarter so this quarter this quarter's revenue grew 49.9 compared the same time last year that to me is insane the quarter before that quarter one of 20 of 2020 grew for about 39 and quarter four of 2019 grew about 40 percent as well so in the past three three quarters this company has grown about over 40 close to over 40 each quarter and that to me is pretty impressive but one thing i want you guys to to see is last year for the um last year there was a lot of negative revenue growth for this quarter so when you have gone so when you have lost in revenue obviously the next year when when you're selling more stuff it's gonna show a higher percentage weight right so i just want people to understand that right so i just this is one thing i feel like many bears might be talking about how that revenue growth is more inflated because the previous same the previous quarters that these are compared to were bad for the company so obviously those numbers are gonna look inflated and i kind of agree with that it's just something to keep in mind of but the company is still growing at crazy levels and at the end of the day that to me is a bullish sentiment next i want to take a look at their annual gross margins and annual profit margins so you can see this company has been profitable and has increased its profits over time for the 2019 and had profit margins of about 25 and that's actually pretty impressive that's a it keeps about a quarter of its money no wonder this company has is able to be um be able to pay dividends right now it has and it has very strong gross margins as well 62 percent all right so now now let's take a look at some of the highlights for this company and uh i probably should have done this earlier in the in the episode but let me talk about nvidia as a whole like what do they do the main thing that nvidia does is they create gpus graphics cards for a computer graphics card the main the one of the uses that many people think it's only used for is to play video games but graphics cards are pretty much the full brain when it comes to artificial intelligence and machine learnings what those things are pretty much they're just mathematical algorithms that happen and c and gpus the things that nvidia makes are the things that are able to compute high mathematical problems at a super fast rate when we take a look at data centers right data centers need to process information pretty quickly it needs to run algorithms to make sure that everything is running fine again you need both cpus and gpus and this is one thing i love listening about other earnings i took a listen at amd's earnings and that's one of my favorite companies as well amd reported that during their data center growth they saw a huge demand growth in their cpu markets for data centers but they did not see a huge growth in their gpu markets in data center and that to me again if you guys the great thing about these youtube videos and and these podcasts you guys can go back and listen to them and see that i'm not i'm not just throwing spewing stuff out of uh out of the back of myself right i mentioned there that hey if and even how are they showing strong growth in cpus but not strong growth in gpus in in data centers and that to me only told me one thing that nvidia was still holding the ground there and we can see that is definitely the case and the um data center made up such a huge portion of this company's revenue so first like i mentioned gaming right gaming made up 1.6 billion dollars of that what was it 3.9 3.
about 3.9 so gaming made up 1.65 billion so that data center made 1.75 billion dollars of that 3.9 so those two sectors right there are are pretty much most of nvidia's revenue and two sectors that i am completely bullish on and another thing i want to mention this is the first quarter that nvidia's data center has been higher than their gaming back then nvidia was known as the gaming company now looking at this nvidia is yes a gaming company but it's now a data center company and the great thing about nvidia is they they just recently did an acquisition we on on quarter two they ended up on quarter one they ended up purchasing a company called melanox and this is a company that deals with artificial intelligence and data centers as well so they were buying a company to increase their overall exposure to that market that is an acquisition that makes sense if if there's an acquisition when an acquisition happens i look at it and want to make sure that yes i understand why the company is buying this company is to strengthen itself and thanks to melanox at the revenue for data centers grew 167 compare the same time last year and they grew 54 compared to a quarter ago that to me tells me enough and to me i'm honestly surprised that this stock did not shoot up and do not shoot up after earnings after these amazing results i would have expected this company to go up next let's take a look at their other segments they have two more segments the next is professional visualization and for those that don't know professional visualizations again oh it deals with graphics cards um and let's say you're an engineer or if you're let's say you're an architect and you use programs like autocad and autodesk and all of these types of cad cad softwares you usually uh it it's better for for this it's better processing um if you or if you're like a video editor it's better if you have a graphics card that is meant to handle those types of that type of of workload so that's that professional visualization and then we have auto the auto industry thanks to their artificial intelligence thanks to the machine learning they are getting in that auto land unfortunately that's only a hundred and eleven million dollars of the company's total revenue so so what's that like two three percent of the company's revenue comes from auto and auto is down it's down 28 it's actually down 50 compared to the same time last year and visualization is down 30 compared to the same time last year right they are down but remember they are such a small section of this company's of this company's revenue and the nvidia did give us guidance four quarter four quarter three they say expected revenue of 4.4 billion dollars um four quarter three analysts were expecting a revenue for quarter three of about four billion dollars so this is beating analysts expectations and again another reason that i was surprised that this company did not jump up this to me tells me that people were already already over expecting a huge beat by nvidia and unfortunately if nvidia did not produce the numbers it did right now it would have had a big drop because it seems like investors were already ex pretty much investing for the perfect scenario and that's what they got they also announced something pretty cool in in their automotive world even though it makes up such a small section i feel like this is a market that's gonna grow from here on as well and that's why i'm very bullish in the company saron crnc i've done plenty of videos if you guys want to check it out but um nvidia announced partnerships with mercedes-benz that every vehicle in its lineup starting in 2024 will have the architecture software um that nvidia builds for is drive av autonomous driving software um and that to me is pretty impressive right be getting into a company in a getting into this type of partnership with mercedes-benz a luxury car for every vehicle in its lineup it is just it's i i feel it's gonna be such an amazing growth for the automotive section for nvidia you know future thinking about it in the future if saron's continues to get bigger um sirens i can actually picture nvidia purchasing them and i would be okay with that with that acquisition as well if they want to increase their automotive um artificial intelligence um market all right so the final thing i pretty much wanted to take a look at was this company's balance sheet and nvidia right now has about 7 billion 7.7 billion dollars in current investments and it has about 3.2 billion dollars in cash so pretty much about i want to say close to 11 billion dollars in quick cash and this company has no current debt and it's non-current debt it's 7.5 billion so this is what i consider a great balance sheet it has enough cash to pretty much pay off its total non-current debt and still have cash left over it'll have about it'll have about three billion dollars left over in cash all right so now my thoughts about the company first what do we see we see a company that what we just looked at that has a strong balance sheet it has plenty of cash to pay off its total debt and still have cash left over it is a company that's profitable and is paying dividends so it's it's looking like it has it doesn't have to worry about its debt at all um it has money coming in it is in markets that i believe are completely bullish the gaming market it's still growing strong and is continuing to grow strong thanks to this pandemic and even even let's say even let's say everything goes back to normal tomorrow the upcoming seasons are the holiday seasons and that's normally the seasons where where a lot of people go bar buy computers buy laptops and buy everything that nvidia is in the data center right this is an other item especially with everything going cloud there needs to have strong processing speed for everything there and the nvidia's gpus help those servers maintain the speed they need they are in the artificial intelligence world and that again we see it through their automotive world and just in general i think nvidia has placed itself in markets that are going to continue to grow and we're gonna see a lot more of nvidia in the future and like they have some cash so i i can't see them doing another acquisition i think melanox was close to a seven billion dollar acquisition that they did full cash um but this if if something comes out cheap i can see nvidia purchasing something else again when a company does an acquisition i will i love to see it that is an acquisition that will make their current pla their current their current products stronger than they were before and we saw that with that data center how it grew almo over a hundred percent compared to the same time last year uh and next right with the market cap of 300 billion dollars i can like i said i in my opinion i can see nvidia in the next five 10 years reaching a trillion dollars based on the markets that it's in and based the world the world down the based on the way the world is moving so to me nvidia is one i will continue to buy um but again the way i buy is more through dollar cost average right i don't right now i would i personally if i was opening a position i would not go all in in nvidia right the market is very volatile um and even though this might not be this who knows this might be the bottom it could be in in the next few years i highly doubt that um the market is very volatile so for me i dollar cost average and nvidia is one that i'm going to continue dollar cost averaging as the weeks progress and continue to build up my position on this company so i hope you guys enjoyed today's episode like always make sure to hit the thumbs up like always make sure to let me know in the comments i hope you guys enjoyed the episode take care and have a good night you
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