10.20 What's the outlook for NVIDIA and Tesla in the aftermarket?

$NVIDIA(NVDA.US)

Recently I've seen and been asked a lot: Why did NVIDIA's China market share drop sharply from 95% to 0, yet why is the stock price still fluctuating around 180 without breaking down? But actually, this was Jensen Huang's complaint in an interview, trying to warn Trump and Wall Street that the current U.S. chip ban on China is inadvisable - Huawei phone was a previous example. Secondly, the global AI demand explosion and huge growth from other regions can offset China's market contraction. Thirdly, last quarter China's revenue share had already dropped significantly, and the market had already been digesting this news.

Long-term, I maintain my view that it's worth holding, but currently there's strong resistance at 183 with ~51.4x P/E, meaning the stock price already reflects very high growth expectations - any underperformance may trigger a pullback. Could wait for earnings or better entry points after macro risks subside.

$Tesla(TSLA.US) 

Earnings after market close on Oct 22, current price in consolidation

For high-risk or long-term investors: Could consider light positions now. If post-earnings drop occurs due to weak results, it may present a phased accumulation opportunity.

For short-term certainty seekers: Better to wait or watch for pullbacks.

This earnings requires close attention to management's 2026 demand guidance and updated timelines for FSD/Robotaxi. If these long-term narratives get disproven or delayed, the stock faces significant downside pressure.

$HSTECH ETF(03032.HK)