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Nvidia's Earnings Show Durable Demand
- Nvidia reported 73% year-over-year revenue growth with a major adjusted EPS beat and a 75.2% gross margin.
- Jim Cramer highlighted secured components through 2026, Vera Rubin sample shipments, and strong guidance with sequential revenue growth into 2026.
Broad Semiconductor Weakness Despite Strong Nvidia
- Weakness spread across the semiconductor chain despite Nvidia's strong results, affecting other AI chip names and Broadcom.
- Cramer noted China wasn't in Nvidia's revenue or guidance yet and hyperscaler capex looked sustainable per Jensen.
Rotation Not Reflection On Nvidia
- The market move after Nvidia was driven by programmatic rotation, not the company's fundamentals or call quality.
- Cramer described automated selling reallocating holdings from hardware into software names like Salesforce and Workday during the trading day.