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cailianshe news, august 29 (editor: xiaoxiang)can you imagine such a scene: a group of people happily meet in a bar, staring intently at the tv screen beside the table. what is being played on the screen is not an exciting sports event, but just a routine earnings conference of a listed company...

according to local media reports,in the early hours of thursday morning beijing time, such a bizarre scene took place in a bar near madison square park in manhattan:

dozens of investors gathered together, just waiting for the "super bowl" moment unique to the financial market - the disclosure of nvidia's q2 financial report.

they drank beer and wine while watching cnbc's live broadcast, and as nvidia's earnings report came out, they exchanged their respective holdings. some said they hoped that today would be lively and drive the stock price up; others said they just came to enjoy the show, make connections, or brag that they had attended the first earnings "viewing meeting" in their lives.

as time went on, these investors cheered during the countdown to the earnings release and booed when the stock price fell after the market closed.

in the end, the party quickly ended. by 5 p.m. local time, the crowd had dwindled as the stock price fell.

did nvidia's latest earnings report disappoint them? maybe.

the graphics chip maker, which has become a cultural phenomenon and a symbol of ai madness, reported results on wednesday that its q2 revenue and profit exceeded wall street expectations, but the growth rate of its performance slowed compared with recent quarters. at the same time, while its q3 revenue outlook was higher than the average analyst expectation, it failed to exceed the most optimistic expectations, causing its stock price to fall 8% after the market.

marty jaramillo, an injury data analyst at cbs sports, said of nvidia's stock price movement that day, "it's a little disappointing. in itself, nvidia still hit a 'home run' today, but they have hit many 'home runs' in the past few quarters."

he said people's expectations may be too high.

in fact, before this gathering, not everyone was optimistic about nvidia's future performance. some participants even said that they believed that the emergence of similar gatherings was a signal that the market had peaked.it's like when everyone is talking about buying stocks, it's often the most dangerous time...

the most important stock on earth

the quarterly financial results are mandatory information for us listed companies. in the past, financial reports rarely attracted such much attention from the outside world, but it is clear that nvidia is no longer an ordinary company for the entire us market and even the global market...

it is the best performing stock in the s&p 500 this year, having more than doubled so far in 2024 after more than tripling in 2023. nvidia's market value now exceeds $3 trillion, ranking second in the world. it has a huge impact on the direction of the u.s. benchmark stock index and is also a key indicator that may directly affect investor trading sentiment.

since entering this week, some market watchers have been speculating whether comments from nvidia ceo jensen huang on its quarterly earnings call will have a greater impact on the market than last week's speech by federal reserve chairman jerome powell at the jackson hole symposium.at the central bank's annual meeting last week, powell sent a major signal that the federal reserve is about to cut interest rates.

data from deutsche bank shows that in previous quarters, the market reaction to nvidia's financial reports was comparable to the market reaction after the release of major us macroeconomic reports such as the monthly non-farm report or inflation data. it is no wonder that before the release of the financial report, many traders bet that nvidia's market value will fluctuate by about $300 billion after the release of the financial report.

so far, that level of market reaction has not occurred, although the real test may not begin until u.s. stocks open tonight.

“people are putting the entire u.s. stock market on the shoulders of nvidia,” said michael antonelli, managing director at investment firm baird. “it seems ridiculous.”

but investors who have experienced the market trends over the past year obviously know that this description is not even an exaggeration.among the retail investors in the united states, nvidia's name has been stored in almost everyone's watchlist. for some amateur investors who hold nvidia, the surge in nvidia's stock price in the past few years has allowed them to retire early, travel, pay off debts or save money to buy a house.

individual investors and small asset management firms currently hold about 30% of nvidia shares, according to factset data.

people's pursuit of nvidia has even made its peripheral products popular.on stocktwits, a social media platform popular among american retail investors, a hat with nvidia's name printed on it to cheer for "nvidia day" is priced at as high as $33, which has almost become a symbol of people's enthusiasm surrounding nvidia's financial report.

david osterweil, a 47-year-old entrepreneur, said he first bought nvidia shares in 2020 and has held on to them ever since, periodically trimming some of his position to lock in profits. he said the proceeds from his nvidia investment are helping him pay for his son’s bar mitzvah.

he is not concerned about nvidia's earnings performance on wednesday, saying expectations were already high before the report was released.“i think it’s going to be a slow and steady climb over time. this (nvidia) is still very much worth holding for the long term.”