只等那声巨响

Group 1 - The Asian stock market continues to follow the decline of the US stock market, but the drop is significantly less severe, indicating a potential upcoming volatility due to Nvidia's earnings report [2] - Nvidia is expected to report a revenue growth of over 56% for the August-October quarter, reaching $54.92 billion, but this growth rate is slowing compared to previous triple-digit increases due to a high base from last year [2] - Demand for Nvidia's advanced chips remains strong, with CEO Jensen Huang stating that orders for advanced chips before 2026 have reached $500 billion, driven by significant investments from cloud giants like Microsoft, Amazon, and Google [2] Group 2 - Nvidia's gross margin is projected to decline by 2 percentage points to 73.6%, which is a rare weakness for a company known for high profitability, attributed to increasing complexity in high-end systems and rising R&D costs [3] - The market's interpretation of Nvidia's earnings will be influenced more by sentiment than fundamentals, with 70% of the market's reaction based on emotions and only 30% on the company's fundamentals [4] - The evaluation of Nvidia is not solely about the company itself but also about the sustainability of AI spending and whether the tech supercycle has been overestimated, with Nvidia's earnings report serving as a vessel for these broader questions [4]