It’s very difficult to respond to the stock market fluctuations these days, right?

In the past, most of the performance and prospects responded positively during the performance season, but these days, many say that the stock price has risen too much, so it is difficult to get a positive response with a good performance.

NVIDIA will also release its results

So what’s the performance of Nvidia?

Wells Fargo analyzed Taiwan’s export data and expected Nvidia performance for the current quarter, which concludes to be lower than expected.
In the end, Nvidia shares are likely to fluctuate as they fall significantly around the Nvidia earnings season.

Below is a summary of the Wells Fargo report.

9/9, Wells Fargo, Taiwan data-based Nvidia Q2 data weaker than expected

• Q2 NVIDIA DATA CENTER SALES $23 BILLION
• Wells Fargo Expectations $24.6 Billion or Below Wall Street Expectations $25 Billion

Wells Fargo analyzed Taiwan export data for July, analyzing exports of automated data processing machines, a data point that has historically been highly correlated with Nvidia DC sales.

Taiwan’s exports of automated data processing machines in July reached about $9.06 billion, up +85.5% year-on-year and +36% month-on-month.

That’s very high compared to May and June exports, which were +324% and 135%, respectively, compared to the previous year, Wells said.

The July data reflects strong gains compared with the slow trends in May and June, but investors think they can focus more on Nvidia data center performance in the three months to July.

Total exports for the three months to July rose +141% year-on-year and -4.6% quarter-on-quarter to $21.25 billion as Taiwan export data was released in July.

Based on this historical correlation, the data means data center sales for the second quarter of 2025 were approximately $23 billion, slightly lower than Wells’ estimate of $24.6 billion and Street’s estimate of approximately $25 billion.