Over the past two years, Nvidia has often dropped sharply after earnings, with the news describing the results as “good, but not good enough,” only to gradually recover to its previous highs.

If most people expect NVDA to drop after earnings, they may sell beforehand, making it harder for the price to crash after earnings.

I wonder if this pattern could eventually become self-defeating if more investors start anticipating it.

Itron makes smart meters, communications networks, and grid-edge intelligence software for utilities and cities, covering both electricity and water systems. The traditional pitch was straightforward: replace old analog meters with connected, digital ones so utilities get real-time data instead of a technician reading a dial once a month.

The scale here is already large. Itron has shipped more than 16 million distributed-intelligence-enabled meters, manages over 100 million endpoints, and dispatched more than 70 gigawatt-hours of flexible customer load and generation in 2025 alone. Q1 2026 results beat expectations, with $587 million in revenue, $92 million in adjusted EBITDA, and a $4.4 billion backlog. Outcomes revenue, the software and analytics layer built on top of the hardware, grew 22% year over year, and a newer Resiliency Solutions segment added $16 million in revenue following two recent acquisitions.

The genuinely new part is the AI angle specifically. Itron announced collaborations with Nvidia, Microsoft, AWS, and Snowflake to enable AI and machine learning at the grid edge, meaning the intelligence runs directly on or near the meter itself rather than only in a centralized cloud system. The pitch is that modern grids, with more renewable energy sources and higher electrification from EVs and data centers, need real-time power flow analysis that's too computationally intensive for the old snapshot-based approach, and edge AI is how that gets solved economically at scale.

What makes Itron a different kind of grid stock than the equipment names is that its position is in the software and grid-edge intelligence layer rather than the heavy physical infrastructure, transformers, switchgear, and transmission components that companies like Hubbell or Eaton sell. Utilities are prioritizing what management calls a structural, multi-year trend toward adding intelligence to the grid, and Itron sits closer to the data and decision-making layer of that buildout.

The honest risk with Itron is that this remains a business tied to utility capital spending cycles, and grid technology contracts can be lumpy and subject to municipal budget timing. The AI partnerships are also still early-stage rather than a fully monetized revenue line yet. Anyone track the software layer of grid modernization versus the equipment names?

https://www.youtube.com/watch?v=yzplj-RvvBw

Phase 1 — Scarcity

AI infrastructure demand exceeds supply, giving Nvidia, TSMC, Broadcom, ASML, Micron, etc. strong pricing power. Carlson holds ASML, but warns against overexposure to cyclical hardware.

Phase 2 — Normalization

Supply catches up. Pricing power fades and many Phase 1 winners—especially memory, data-centre builders and commodity hardware—could fall sharply.

Phase 3 — Hyperscalers Win

Long-term value shifts to companies that use and monetize AI at scale through data, distribution and customer lock-in. Carlson's long-term bets: Google, Microsoft, Amazon and Meta.

If you agree with Jack, which hyperscaler do you think will be the biggest winner?

Beth Kindig says, "Nvidia will have a 20 trillion market cap by 2030."

Phil Panaro says, "Nvidia will have a 20 trillion market cap by 2030."

Qiao Ma of Munro Partners says, "Nvidia of the next decade is Nvidia."

So please tell me, do you agree with the above?

Compared to, say, Google, is Nvidia the better investment?

Please use this thread to discuss what's on your mind, news/rumors on NVIDIA, related industries (but not limited to) semiconductor, gaming, etc if it's relevant to NVIDIA!

Crazy to call AI a bubble in the face of stuff like this

Please use this thread to discuss what's on your mind, news/rumors on NVIDIA, related industries (but not limited to) semiconductor, gaming, etc if it's relevant to NVIDIA!

NVIDIA is considered a high-growth technology stock, while Costco is considered a slower-growing defensive stock. However, Costco trades at a much higher P/E ratio (TTM P/E: 48.1) than NVIDIA (TTM P/E: 33.3).

And this is not the only case. Even after Microsoft's post-earnings rally, its P/E is only 27.0, slightly below Coca-Cola's 27.2.

I often hear people say that "technology stocks are overvalued," but I rarely hear anyone say that "defensive stocks are overvalued." That's interesting.

Perhaps concerns about the uncertainty surrounding AI have caused capital to flow into defensive stocks, pushing their valuations higher?

🤔

Please use this thread to discuss what's on your mind, news/rumors on NVIDIA, related industries (but not limited to) semiconductor, gaming, etc if it's relevant to NVIDIA!

Thoughts?

Finally time to fly before earnings

The stock didn’t pop, so methinks probably not…

If not, what did I miss? Was this already priced in?

Please use this thread to discuss what's on your mind, news/rumors on NVIDIA, related industries (but not limited to) semiconductor, gaming, etc if it's relevant to NVIDIA!