Another catalyst for the decline in NVIDIA's stock price? UBS says a single customer accounts for nearly 20% of NVIDIA's revenue!
NVIDIA has "indirectly acknowledged" the existence of this VVVVIP customer
Since the latest financial report was released, NVIDIA has experienced its first drop overnight, apart from reports that the United States is restricting the sale of AI chips to the Middle East. It seems that UBS has also "added fuel to the fire".
According to media reports, UBS wrote in its latest report that NVIDIA may have a "VVVVIP" customer, who contributed 19% of NVIDIA's total revenue for the fiscal year 2024.
UBS speculates that this customer is likely Microsoft.
Moreover, NVIDIA has "indirectly acknowledged" the existence of this single customer, deepening the speculation of UBS analysts. NVIDIA vaguely described this customer in its latest disclosure:
Two indirect customers accounted for 10% or more of total revenue in the first quarter of the fiscal year 2025.
If NVIDIA puts all its eggs in one basket, could it be laying the groundwork for potential risks? NVIDIA's stock price has surged by 130% so far this year, with a market value approaching $3 trillion, just a step away from Apple