Nvidia's "Off the Charts" Demand: Or Just Another Hype Cycle?
Alright, let's get this straight. Nvidia is saying demand for their Blackwell processors is "off the charts." Off the charts, huh? Sounds like something a used car salesman would say.
The Nvidia Hype Machine
Jensen Huang, bless his heart, is out there talking about "off the charts" demand. Okay, so their Q3 earnings beat expectations – $1.30 EPS on $57.01 billion revenue. Fine. Q4 revenue projected at $65 billion, plus or minus 2%. Dandy. But let's not pretend this isn't partially fueled by the AI hype train that everyone and their grandma has jumped on.
Data center business bringing in the big bucks - $51.2 billion. Gaming revenue? A measly $4.3 billion, actually below estimates. So, it's AI or bust, folks. And if that AI bubble bursts? Well...
But here's the thing. They're selling $50 million in H20 chips to China. $50 million! That's it? In their previous fiscal year, China accounted for 13% of their overall revenue. Now it's 5%. So much for global domination.
Jobs Report: Smoke and Mirrors
Then we got this September jobs report. Delayed because of the government shutdown, naturally. Adds 119,000 jobs, which, yeah, beats expectations. But the unemployment rate rose to 4.4%. What gives?
And get this: layoff announcements are mounting. October was the worst month for planned cuts since 2003. WARN notices spiked in 21 states. But, hey, September was great, right? It's like looking in the rearview mirror while driving 90 miles per hour into a brick wall.
Options traders are now pricing in a 42% chance of a rate cut in December. Up from 28% earlier in the morning. So, everyone's betting on the Fed to save their bacon again. Great.
Oh, and Bitcoin? Dropping below $90,000. Who cares?
Walmart's World
Meanwhile, Walmart (wmt stock price, wmt stock price today) is out here raising its full-year forecasts. Good for them. Adjusted earnings per share were $0.62, above expectations. Revenue rose 6%. Global eCommerce sales rose 27%. People are still buying crap they don't need, I guess.
It's like... we're living in two different economies. One where AI is going to solve all our problems and Nvidia is printing money, and another where people are getting laid off and Walmart is selling them cheap TVs.
Broadcom, AMD, Arm, Intel, Google, Meta, Tesla, CoreWeave, TSMC, SK Hynix, Samsung Electronics. Everyone's stock is up. Offcourse, they are.
Gold (GC=F) is steady near $4,075. So, maybe someone is hedging their bets.
Is This Real Life?
Are we really supposed to believe this? I mean, are we? Or is this just another carefully orchestrated narrative designed to keep the market afloat until the next round of corporate bailouts?
I don't know anymore.
Give Me a Break...
Seriously, this whole charade feels like a bad joke. We're all just puppets dancing to the tune of corporate greed and manipulated data. The "off the charts" demand is probably just a clever marketing ploy and people are gobbling it up like it's the gospel.