Nvidia(US:NVDA) Di Yi Cai Jing·2025-11-24 12:37Group 1 - The core point of the article highlights that despite Nvidia's strong earnings report, the market remains cautious about the tech sector, with funds continuing to flow into defensive sectors like healthcare instead of returning to tech stocks [1][3]. - Nvidia's revenue grew by 65% year-over-year, with data center revenue increasing by 66%, and the company provided a fourth-quarter outlook of approximately $65 billion, exceeding Wall Street's expectations of $62 billion [3][4]. - Concerns about the sustainability of cash flows in the AI sector are rising, as companies like Oracle and Meta are heavily leveraging to maintain their capital expenditures, leading to skepticism about the long-term viability of their aggressive spending strategies [4][5]. Group 2 - The market is experiencing a shift in sentiment towards AI investments, with increased scrutiny and doubts about the profitability of AI applications, particularly following the release of Google's Gemini 3 model [6]. - Macroeconomic factors are also impacting market sentiment, with a significant decrease in the probability of interest rate cuts by the Federal Reserve, which poses a threat to growth stocks sensitive to interest rates [7][8]. - Recent employment data showed mixed signals, complicating the Fed's decision-making process, and the market's expectations for a rate cut in December have dropped significantly from over 90% to around 27% [7].