,

Jed Ellerbroek: Bullish on NVDA, AI ROI Concerns & Apple Earnings Outlook

Bullish Gator

Ellerbroek sees Nvidia as still bullish despite AI-capex limits, warns of slower AI-driven earnings, and outlines Apple iPhone ecosystem expectations and the earnings tone for the AI trade.

Editorial companion

What stands out

Jed Ellerbroek argues Nvidia remains the central bullish story for AI even as Wall Street prices a ceiling on AI capital expenditure for 2027, but he attaches that bullishness to a clear condition: he needs to see accelerating return on investment and rising token costs from customers to justify more buildout. He also warns that AI-driven earnings growth is likely to decelerate across the sector and lays out specific earnings expectations for Apple and its iPhone ecosystem that will set the tone for the AI trade.