(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) Widely followed tech analyst Dan Ives thinks the tepid reaction to Nvdia’s earnings is wrong and the AI juggernaut will be worth much more in the near future. “As you look at numbers and you factor in China, numbers are probably going to go up 8%-10%,” Wedbush’s Dan Ives told CNBC’s Frank Holland in a CNBC PRO video, regarding company earnings estimates. “I think it’s noise. I think it’s a knee jerk. And I think this is a stock going to $5 trillion,” said Ives. Nvidia currently sports a $4.4 trillion market value. Nvidia was higher at one point after the open of trading Thursday, but was lower for most of the session with investors somewhat disappointed in a data center revenue figure for the last quarter that was slightly lighter than Street estimates and a revenue guide for this quarter that basically just met expectations. That revenue forecast, however, does not include any China sales, the company noted. Ives believes Nvidia results were still the “validation point” for the AI trade investors were waiting for. In the conversation above, Ives also touches on: Which derivative stocks to buy of the results Why CoreWeave was up on the back of Nvidia results Why another hot AI play, Palantir , is lower Thursday The positive read-through for Tesla in Nvidia’s results NVDA YTD mountain Nvidia, YTD
