Nvidia Crushes Apple in Latest Earnings Report
Nvidia and Apple have delivered their earnings reports for the latest quarter, showcasing two vastly different growth strategies in the tech industry.
Nvidia's revenue surged 85% year-over-year to $81.61 billion, with Data Center sales accounting for nearly three-quarters of that total at $75.25 billion. The company's non-GAAP gross margin reached a healthy 75%, and free cash flow hit $48.55 billion.
Apple, on the other hand, reported its strongest June quarter ever, with revenue reaching $109.4 billion and services sales hitting a record $30.7 billion. However, the company's iPhone revenue climbed to $54.252 billion, which is significant but not as high as Nvidia's Data Center numbers.
Nvidia's growth strategy relies heavily on its AI factories, with Jensen Huang stating that the 'buildout of AI factories, the largest infrastructure expansion in human history, is accelerating at extraordinary speed.'