Nvidia's Q2 Results Just Made Me More Bullish On The Business, Not On The Stock

Nvidia Corporation delivered solid Q2 results, with robust growth, excellent margins, and continued leadership in demand for AI products. Despite impressive execution, the risk-reward profile is less attractive at current valuations, prompting me to maintain a Hold rating on NVDA stock. Future upside depends on sustained Big Tech CapEx and market growth; any slowdown could trigger a valuation reset despite Nvidia's quality.