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CLOSING BELL
Nvidia Missed, Stock Climbing

The market fell after an exuberant start to the week, despite retail earnings that beat estimates. The world waited for Nvidia to report, and they beat estimates, unless you count the second adjusted earnings number that missed. Still, down but not out, the firm gave upbeat guidance, and so far, they are climbing in the post-market trade. 👀

Today's issue covers Nvidia Released TWO Adjusted EPS’s And One Missed, Joby Finally Tastes Some Toyota Cash, and A Round-up Of Fresh Wall Street Analyst Calls. 📰

With the final numbers for indexes and the ETFs that track them, all sectors closed red, with real estate $XLRE ( ▼ 0.63% ) leading and consumer discretionary $XLY ( ▲ 0.92% ) lagging.

S&P 500 $SPY ( ▲ 0.78% ) 5,888

Nasdaq 100 $QQQ ( ▲ 0.94% ) 21,318

Russell 2000 $IWM ( ▲ 1.62% ) 2,067

Dow Jones $DIA ( ▲ 0.95% ) 42,098

STOCKS
Nvidia Released TWO Adjusted EPS’s And One Missed 🖥️ 

Nvidia, the final big boy Mag Seven stock, reported an adjusted earnings beat… if you gloss over the $4.5B cost it suffered from the H20 chip export ban to China announced in April.

The firm said it expects about the same range for revenue in the coming quarter as Wall Street wanted, and would have a margin of 71% in its Q1 2026 (it is one year in the future SEC filing-wise), but its last quarter suffered under new bans.

The firm’s overall earnings beat, $0.75/share vs the estimate for $0.73, on revenue of $44.06B vs. $43.34B. Its adjusted earnings before the H20 adjustment came in at a miss, $0.81/share vs. estimates for $0.91. Never seen a double-adjusted EPS before? Welcome to 2026.

Data Center revenue came in at $39.1B, up 73% YoY but less than some projections for $39.2B. Gaming revenue climbed 48% from Q4 to beat estimates at $3.8B, compared to Wall Street's $2.8B.

The firm said it managed to sell $2.5B in H20 chips before the ban. The firm expects to lose $8B more in the coming year from the chip bans. They also said they would pay out a $0.01/share dividend on July 3rd, so get your wallets ready for that windfall of cash. 💰️ 

“Global demand for NVIDIA’s AI infrastructure is incredibly strong. AI inference token generation has surged tenfold in just one year, and as AI agents become mainstream, the demand for AI computing will accelerate. Countries around the world are recognizing AI as essential infrastructure — just like electricity and the internet — and NVIDIA stands at the center of this profound transformation.” -Jensen Huang, founder and CEO of NVIDIA.

Less than an hour before the closing bell, President Trump said he would ban all chip design exports from the U.S. to China. $SNPS ( ▲ 1.73% ) fell during the trading day after FT reported Trump’s plan, but the stock stabilized after the firm reported an earnings beat and outlook increase. It was joined at the bottom of the S&P 500 on Wednesday by electronics designer $CDNS ( ▲ 2.07% ).

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