Making Cents Sense

Nvidia is scheduled to report its second-quarter fiscal 2027 results on August 26, 2026, and I have reached the point where describing one of its earnings reports as “highly anticipated” feels almost comically inadequate. The market does not merely wait for Nvidia’s numbers anymore. It gathers around them like anxious relatives outside a delivery room. An ordinary company reports revenue, earnings and guidance. Nvidia reports the current condition of the artificial-intelligence economy. Its results influence semiconductor stocks, cloud providers, electrical-equipment companies, data-center developers, utilities and nearly every business that has managed to place the letters “AI” somewhere in an investor presentation. If Nvidia beats expectations, optimism spreads across the market as though the company has personally confirmed that the future remains under warranty. If management offers one cautious sentence about supply, margins or deployment timing, investors begin examining it with ...

Wall Street has developed a dangerous addiction. Not to profits. Not to innovation. Not even to artificial intelligence itself. No, Wall Street has become addicted to expectation inflation — the financial equivalent of a dopamine tolerance problem where yesterday’s miracle becomes today’s disappointment if it doesn’t arrive wearing fireworks and levitating above the Nasdaq. And nobody embodies that insanity more than NVIDIA right now. Which is exactly why I think May 21 could become one of the most psychologically violent days Nvidia investors have experienced in a long time. Not because Nvidia suddenly became a bad company. That’s the funny part. The company is still a monster. Still dominant. Still printing money like the Federal Reserve discovered steroids and GPU clusters simultaneously. But markets don’t collapse because companies are weak. Markets collapse because expectations become detached from biological reality. And that’s exactly what Palantir Technologies j...