NVIDIA Corporation (NVDA.US) 's 1Q24 results show that AI is far from topping out, which should be enough to maintain investor confidence in Asian AI supply chain stocks, Morgan Stanley released a research report saying.
The Group's 1Q24 revenue rose 262% YoY to US$26 billion, ahead of the Company's guidance of US$24 billion. Earnings increased 629%. The Group's sales guidance for 2Q24 was US$28 billion, higher than the market's estimation of US$26.5 billion.
AI data remains strong, and its growth trajectory does not seem to be slowing down, Morgan Stanley said. Demand remains good and is expanding in each quarter. Morgan Stanley believed that the exceptional supply-demand imbalance will persist in the coming quarters. AI supply chain margin in Asia will improve over the next 6 months.
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