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Below is Dolphin Research's Trans of the FY26 Q1 earnings call for $Alphabet(GOOGL.US) $Alphabet - C(GOOG.US). For our earnings analysis, please see 'AI Google: No ghost stories, only a bumper harvest'.I. Core highlights recap. 1) Shareholder returns: the BOD announced a 5% increase to the quarterly dividend. 2) Outlook: at spot FX, Q2 consolidated revenue is expected to see an ~1 ppt FX tailwind (vs. 3 ppts in Q1); full-year CapEx guidance was raised to $180-190bn (prior $175-185bn)...

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GraniteShares 2x Long NVDA Daily ETF

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T-Rex 2X Long NVIDIA Daily Target ETF

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CITIGROUP INC 6.250 NON CUM SER II PFD WI

GOOGL (Trans): ROIC-Disciplined AI Investment to Stay Ahead

Today’s Key News Recap

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Apr 20 ｜ Dolphin Research Focus: 🐬 Macro/Industry. 1) Ibrahim Azizi, chair of Iran's Islamic Consultative Assembly Committee on National Security and Foreign Policy, told Al Jazeera that Iran will continue talks with the U.S., but stressed it is 'not at any cost' and will not accept arbitrary U.S. demands.The current U.S.-Iran temporary ceasefire expires on Apr 22. The two sides held a first round in Oman earlier, and the region sits at an inflection point between war and peace.The restart signals a pragmatic stance by Tehran. Yet core differences remain, leaving limited room for maneuver...

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MU debuts 24Gb GDDR7 memory; DeepSeek's first external round sparks AI capital frenzy | Daily News Recap

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0413 | Dolphin Focus — 🐬 Macro/Industry. 1) Trump announced that, after US-Iran talks in Pakistan collapsed, the US military will at 10:00 ET on Apr 13 (10pm Beijing time tonight) impose a full blockade of Iranian ports and the Strait of Hormuz.It will intercept all vessels to and from Iran and cut off its oil exports. Iran's military issued a hardline response, stating any US approach will be treated as a provocation and met with firm retaliation.This would sharply elevate geopolitical risk and disrupt shipping, chemicals and related supply chains. It would also reinforce expectations that the Fed keeps rates higher for longer, putting near-term pressure on HK stocks and growth names.

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MiniMax M2.7 open-sourced globally; AAPL's first foldable slated for Fall 2026 | Daily News Recap

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1) Xiaomi Spring Launch: Key Points. $XIAOMI-W(01810.HK) The event's highlights were the SU7 refresh and progress on its AI foundation model. a) New-gen SU7: essentially a mid-cycle refresh. Exterior changes are minor, with the focus on hardware upgrades and a small price bump. On configs, the update favors the Standard and Pro trims. Across the lineup, standard kit now includes the V6s Plus super e-motor, lidar and 4D mmWave radar, NVIDIA Thor-U, the Jiaolong chassis, and front four-piston fixed calipers. Pricing-wise...

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Xiaomi (Spring Launch): SU7 gets a quiet refresh; MiMo free for a limited time to climb the charts

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Financial Analysis

Below is Dolphin Research's Trans from Micron's FY2026 Q2 analyst huddle. For the earnings read-through, cf. 'Micron: AI-fueled memory surge — can it break the cycle?'.Key takeaways from the analyst huddle: 1) Non-HBM carries higher GPM than HBM. The company will not materially rebalance HBM vs. non-HBM on short-term price swings.This is a strategic decision. Customers need a complete product stack to build AI systems, and you cannot sell an AI system that is short on HBM. The market requires a balanced portfolio to drive shipments at scale...

MU (Analyst briefing): Capex may decline after FY2027

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0312 | Dolphin Research Focus: 🐬 Macro/Industry 1) US core CPI for Feb. rose YoY in line with estimates. Inflation pressure eased ahead of the latest Middle East escalation, giving the Fed room to stay on hold for now.This temporarily calms fears of renewed hikes and runaway inflation. However, the Middle East conflict is lifting oil, raising the risk of an inflation rebound.The Fed's cut pace remains bound by geopolitics, and global risk assets may stay volatile. 2) The Trump administration is invoking Section 301 of the US Trade Act of 1974 ...

Apple Group

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NVDA to invest $26bn in in-house AI foundation models; AAPL enters the budget laptop fray | Daily News Recap

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Below is the FY25 Q4 earnings call Trans compiled by Dolphin Research for $Coreweave(CRWV.US). For our earnings take, see 'CoreWeave: Orders Soaring, Profits Plunging—Is the compute unicorn stuck in a profitability trap?'.I. Key financials recap. Cash and marketable securities: $4.2bn as of Dec 31.Financing activities: issued convertible preferred notes in Q4, raising approx. $2.6bn. Expanded the revolving credit facility to $2.5bn. In 2025, secured over $18bn in combined debt and equity financing...

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CoreWeave (Trans): Massive capex fully backed by signed service contracts

DELL

Below is Dolphin Research's Trans of Dell's FY2026 Q4 earnings call. For our earnings analysis, see 'DELL: AI Is Doubling; Can It Ease 'Storage Tightness' Concerns?'Key takeaways from management: 1) Next-quarter guide: revenue of $34.7-35.7bn (midpoint +51% YoY). AI server revenue is expected to contribute ~$13bn, up ~$4bn QoQ. Infrastructure Solutions Group (ISG) revenue is guided to grow over 100% YoY...

Dell Tech

DELL Trans: AI orders exclude Rubin; legacy biz still growing

ASIC

Below is Dolphin Research's transcript of NVIDIA's FY2026 Q4 earnings call; for our take, see 'NVIDIA: Earnings Frenzy vs. Cold Stock — Is the No. 1 Stock in the Universe Losing Favor?'$NVIDIA(NVDA.US)Key takeaways: (1) FY2027 guide: full-year non-GAAP GPM to hold around 75% (mid-70s), in line with last quarter's commentary.Maintaining that margin hinges on continued generation-to-generation performance leaps for customers. If perf-per-watt gains meaningfully outpace Moore's Law...

Ategrity Specialty Holdings LLC

NVDA (Trans): Compute Spend Linked to Rev.; Supply Chain Security Prioritized

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NVDA FY4Q26 First Take: another strong print.Revenue rose QoQ by $11.1bn, largely driven by Data Center as Blackwell moved into mass production.GPM recovered to 75%. For next quarter, the company guides revenue to $78bn (+/-2%), implying another ~$10bn QoQ increase and beating raised buy-side estimates ($73-76bn).Current flagship products are B300/GB300, and with Rubin launching in 2H, management expects high growth to continue. Jensen Huang has outlined the AI outlook, targeting cumulative Blackwell + Rubin shipments of 20 mn units by end-2026 (roughly $500bn in revenue).As a result, investors are not worried about FY2027 performance. Beyond near-term results, the market is focused on NVDA's mid- to long-term competitiveness in AI chips.As large models shift focus from training to inference, customers weigh compute alongside cost-efficiency, and ASIC competitors present potential risks to NVDA GPUs' high share and margins.Under these concerns, NVDA faces strong growth yet a valuation that has been slow to re-rate.More importantly, management needs to ease investor worries and reinforce mid- to long-term confidence.For more details, follow Dolphin Research's upcoming commentary and management Trans.$NVIDIA(NVDA.US) $GraniteShares 2x Long NVDA Daily ETF(NVDL.US) $Direxion Daily NVDA Bear 1X ETF(NVDD.US)

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HYPERSCALE DATA INC 13.00%CUM RED PER PREF STK SER D USD25

NVIDIA's Q4 FY2025 Earnings Report Expected to Show Strong Growth

Nvidia Plans to Reduce GPU Supply to China in Q1 of FY2027

NVIDIA component manufacturer suspends production after H200 import ban in China

AMPLITECH GROUP INC. COM USD0.001 (S/R 18/07/2026)

AMPLITECH GROUP INC. USD0.001 S/R 20/11/26 SER B

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US stock index futures fell, led by weakness in semiconductor shares, raising concerns over inflation and corporate earnings. Dow futures dropped 65 points, with technology stocks under pressure. Oil prices eased but remained high amid Middle East tensions. Treasury yields pulled back after a recent rise. Investors are awaiting Nvidia's earnings and the Federal Reserve's minutes for insights on economic conditions.

- US stock index futures declined due to weakness in semiconductor shares and concerns over inflation, elevated bond yields, and corporate earnings outlook.  
- The S&P 500 futures fell 0.23%, while Nasdaq 100 contracts decreased by 0.46%, reflecting pressure on technology stocks.  
- Market sentiment remains fragile ahead of upcoming earnings reports from Nvidia and Walmart, along with the Federal Reserve's minutes, amid ongoing geopolitical tensions.

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Dow futures slip 65 points: 5 things to know before markets open

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Nvidia (NVDA) will report its Q1 FY27 earnings this week on May 20. According to TipRanks' Options Tool, options traders expect an 8.65% move in either direction in NVDA stock in reaction to Q1 FY27 earnings. This implied move is slightly higher than Nvidia's average post-earnings move (in absolute terms) of 3.16% over the past four quarters.Claim 55% Off TipRanksForget margin or options. Here's how the pros trade NVDA

- Nvidia (NVDA) is set to release its Q1 FY27 earnings on May 20.  
- Options traders anticipate an 8.65% movement in NVDA stock following the earnings report, exceeding the average post-earnings move of 3.16% observed in the last four quarters.  
- This heightened expectation indicates increased volatility surrounding Nvidia's financial performance announcement.

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Nvidia Will Report Q1 Earnings on May 20 — Options Traders Expect an 8.65% Move in NVDA Stock

NVIDIA (NVDA) shares surged over 20% in seven sessions, reaching an intraday record of $235.75 before closing at $225.32. The company reported a record quarterly revenue of $68.1B and a gross margin of 75.2%. With a market cap near $5.5T, traders are anticipating earnings results on Wednesday, focusing on revenue, EPS, guidance, and commentary on China. Analysts project AI-chip revenue potential of at least $1T through 2027.

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Key facts: NVIDIA surges to record; $68.1B, 75.2% margin; earnings Wed

Analysts from Bank of America and Wolfe Research have raised their outlooks on Nvidia, highlighting its strong AI market share and demand through 2027. Nvidia's Q4 FY2026 data center revenue reached $62.3B, a 75% increase year over year, driven by large-scale AI infrastructure orders. The upcoming earnings report on May 20 will indicate if Nvidia can maintain growth amid increasing competition in custom chips.

- Analysts have become more optimistic about Nvidia, with Bank of America and Wolfe Research upgrading their outlook due to the company's strong position in the AI market and high demand projected through 2027.  
- Nvidia reported a record $62.3 billion in data center revenue for Q4 FY2026, a 75% increase year over year, as major hyperscalers secure significant AI infrastructure orders.  
- The upcoming earnings report on May 20 will indicate if Nvidia can maintain its growth during the transition from Blackwell to Vera Rubin in the face of increasing competition in custom chips.

Analysts boost Nvidia outlook as AI demand surges ahead of earnings

U.S. stock futures dipped slightly as investors await Nvidia's earnings amid ongoing U.S.-Iran tensions. S&P 500 Futures fell 0.3%, Nasdaq 100 Futures dropped 0.4%, and Dow Jones Futures decreased by 0.4%. Despite a recent selloff, the S&P 500 achieved its seventh consecutive weekly gain. Oil prices are rising, raising concerns about inflation and consumer spending. Trump emphasized urgency regarding Iran, hinting at potential military discussions, while markets also reflect on the recent U.S.-China summit.

- U.S. stock futures showed little movement following a record-setting week on Wall Street, with investors awaiting Nvidia's earnings and monitoring the U.S.-Iran conflict.  
- The Dow Jones, S&P 500, and NASDAQ experienced losses on Friday due to rising bond yields and oil prices, yet the S&P 500 achieved its seventh consecutive weekly gain.  
- Geopolitical tensions persisted as Trump indicated urgency regarding Iran, contributing to rising oil prices and concerns over inflation and consumer spending.

Wall St futures dip as Iran conflict drags on; Nvidia results awaited

Direxion Daily NVDA Bear 1X ETF(NVDD.US)

Dow futures slip 65 points: 5 things to know before markets open

Nvidia Will Report Q1 Earnings on May 20 — Options Traders Expect an 8.65% Move in NVDA Stock

Key facts: NVIDIA surges to record; $68.1B, 75.2% margin; earnings Wed

Analysts boost Nvidia outlook as AI demand surges ahead of earnings

Wall St futures dip as Iran conflict drags on; Nvidia results awaited

Nvidia’s AI Lead Is Back in Focus as Wolfe Research Doubles Down

European Shares Set For Gap-down Opening

Analysts see Nvidia poised for record Q1 and possible guidance boost

Nvidia eyes $78B quarter as China chip sales resume

Nvidia earnings on May 20 could sway AI market sentiment