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TSLATesla

$356.84+0.38% today

cautiousconfidence

Deliveries beat expectations, but on lower prices

Tesla shipped more cars than analysts expected last quarter and did it partly by cutting prices, so revenue rose less than volume. The market has read this two ways since, and the share price has moved in both directions this week.

Deliveries came in above consensus for the second quarter running
Average selling price fell year over year in every region
Energy storage remains the fastest growing part of the business

risks (2)

Margins depend on price cuts that are difficult to reverse
Several announced timelines for self-driving have slipped before

NVDANVIDIA

$231.14+0.40% today

positiveconfidence

Data centre orders keep outrunning what Nvidia can build

Nvidia said last quarter that demand for its newest chips still exceeds supply, and its three largest customers have all raised their spending plans since. The share price has followed. What is not yet clear is how much of that spending is already priced in.

Data centre revenue grew for the ninth quarter in a row
The three biggest cloud providers each raised capital spending guidance
Supply, not demand, is the stated constraint on how fast revenue can grow

risks (2)

A single customer group accounts for a large share of revenue
Export rules on advanced chips can change with little warning