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Nvidia's most recent earnings came in at 106% year-over-year revenue growth and a 62% net profit margin, numbers that surprised even the biggest bulls on the stock.
That print sits at the top of the iShares Semiconductor ETF (NASDAQ: SOXX), where Nvidia holds the largest position.
The next read is whether Micron Technology's newly announced multi-year customer agreements establish a demand floor that extends the current cycle well past what one quarter's data can confirm.
The numbers behind the setup Nvidia's GPUs command those margins because demand has consistently outpaced supply.
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