Nvidia, yapay zek\u00e2 odakl\u0131 donan\u0131m\u0131na (AI i\u00e7in \u00fcretilen \u00e7ip ve sistemler) y\u00f6nelik talebin s\u00fcrmesiyle \u201cMuhte\u015fem 7\u201d (Mag 7) bilan\u00e7o d\u00f6nemini g\u00fc\u00e7l\u00fc bir b\u00fcy\u00fcme \u00e7eyre\u011fiyle kapatt\u0131. \u015eirketin d\u00fczeltilmi\u015f hisse ba\u015f\u0131na k\u00e2r\u0131 (adjusted EPS: tek seferlik kalemler \u00e7\u0131kar\u0131larak hesaplanan k\u00e2r) 1,87 dolar oldu; bu rakam ge\u00e7en y\u0131la g\u00f6re iki kattan fazla artt\u0131. Gelir ise y\u0131ll\u0131k bazda (y\u0131ll\u0131k kar\u015f\u0131la\u015ft\u0131rma) %85 y\u00fckselerek rekor 81,6 milyar dolara ula\u015ft\u0131.<\/p>\n
Veri Merkezi (Data Center) ana itici g\u00fc\u00e7 olmaya devam etti: sat\u0131\u015flar 75,2 milyar dolarla rekor k\u0131rd\u0131 ve ge\u00e7en y\u0131l\u0131n ayn\u0131 d\u00f6nemine g\u00f6re %92 artt\u0131. Art\u0131\u015f, GPU\u2019lara (grafik i\u015flemci: \u00f6zellikle yapay zek\u00e2 hesaplamalar\u0131nda kullan\u0131lan g\u00fc\u00e7l\u00fc \u00e7ip) y\u00f6nelik s\u00fcren talep taraf\u0131ndan desteklendi. G\u00fcncellemede ayr\u0131ca, i\u00e7inde bulunulan ve gelecek mali y\u0131l i\u00e7in hisse ba\u015f\u0131na k\u00e2r beklentilerinin (EPS beklentisi: analistlerin k\u00e2r tahmini) yukar\u0131 y\u00f6nl\u00fc revize edildi\u011fine i\u015faret edildi. Hisse Zacks s\u0131ralamas\u0131nda #2 (Al) notunu ta\u015f\u0131yor.<\/p>\n
Bu rekor sonu\u00e7lar\u0131n ard\u0131ndan hissede yukar\u0131 y\u00f6n i\u00e7in daha net bir g\u00f6r\u00fcn\u00fcm olu\u015ftu. Veri Merkezi segmentindeki %92\u2019lik kal\u0131c\u0131 b\u00fcy\u00fcme, yapay zek\u00e2 altyap\u0131s\u0131 kurulumunun (AI altyap\u0131 yat\u0131r\u0131mlar\u0131) yava\u015flamad\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Bu temel g\u00fc\u00e7, \u00f6n\u00fcm\u00fczdeki haftalarda hisse fiyat\u0131n\u0131 destekleyebilir.<\/p>\n
NVIDIA opsiyonlar\u0131nda \u201c\u00f6rt\u00fck oynakl\u0131\u011f\u0131n\u201d (implied volatility: opsiyon fiyatlar\u0131na yans\u0131yan beklenen fiyat dalgalanmas\u0131) bilan\u00e7odan sonra belirgin \u015fekilde d\u00fc\u015ft\u00fc\u011f\u00fcn\u00fc g\u00f6r\u00fcyoruz; a\u00e7\u0131klama \u00f6ncesi %75\u2019in \u00fczerindeki seviyelerden daha dengeli %48\u2019e geriledi. Bilan\u00e7odan sonra oynakl\u0131\u011f\u0131n d\u00fc\u015fmesi, opsiyon satmaktan (prim toplay\u0131p risk almak) ziyade opsiyon almay\u0131 (y\u00fckseli\u015ften faydalanmay\u0131) daha cazip hale getirebilir. Daha ucuz primler (opsiyon fiyat\u0131), y\u00fckseli\u015f beklentisinde daha iyi kald\u0131ra\u00e7 (az sermayeyle daha y\u00fcksek etki) sa\u011flar.<\/p>\n
Genel piyasa da bu g\u00f6r\u00fc\u015f\u00fc destekliyor: Nasdaq 100 bu ay %3,5 y\u00fckseldi ve teknoloji harcamas\u0131 tahminleri g\u00fc\u00e7l\u00fc kal\u0131yor. Son veriler, \u015firketlerin 2026\u2019n\u0131n ikinci yar\u0131s\u0131 i\u00e7in yapay zek\u00e2 yat\u0131r\u0131m\u0131 taahh\u00fctlerinin (planlanan harcama) \u015fimdiden ge\u00e7en y\u0131la g\u00f6re %15 daha y\u00fcksek oldu\u011funu g\u00f6steriyor. Bu makro ortam, NVIDIA \u00fcr\u00fcnlerine y\u00f6nelik talebi destekleyen unsurlar\u0131n korundu\u011funa i\u015faret ediyor.<\/p>\n
Bu nedenle, s\u0131n\u0131rl\u0131 riskle (zarar\u0131n ba\u015ftan belli oldu\u011fu yap\u0131) beklenen hareketten yararlanmak i\u00e7in 2026 Haziran sonu ve Temmuz vadeli \u201ccall spread\u201d (al\u0131m opsiyonu spread\u2019i: bir al\u0131m opsiyonu al\u0131p daha y\u00fcksek kullan\u0131m fiyatl\u0131 bir al\u0131m opsiyonu satarak maliyeti d\u00fc\u015f\u00fcren strateji) al\u0131mlar\u0131na bak\u0131yoruz. Di\u011fer bir yakla\u015f\u0131m ise \u201cout-of-the-money put\u201d (kullan\u0131m fiyat\u0131 mevcut fiyat\u0131n alt\u0131nda olan sat\u0131m opsiyonu) sat\u0131p prim toplamak; bu, genel piyasaya k\u0131yasla h\u00e2l\u00e2 g\u00f6rece y\u00fcksek olan oynakl\u0131ktan faydalanmay\u0131 ama\u00e7lar. Burada, b\u00fcy\u00fck bulut sa\u011flay\u0131c\u0131lar\u0131n\u0131n (cloud: uzaktan sunucu hizmeti sunan dev teknoloji \u015firketleri) sermaye harcamas\u0131 (capex: tesis\/ekipman ve altyap\u0131 i\u00e7in yat\u0131r\u0131m) planlar\u0131ndaki olas\u0131 de\u011fi\u015fimler kritik g\u00f6sterge olarak izlenmeli.<\/p>\n","protected":false},"excerpt":{"rendered":"
Nvidia\u2019dan bilan\u00e7o \u015fovu: Gelir %85 art\u0131\u015fla 81,6 milyar dolara, EPS 1,87 dolara \u00e7\u0131kt\u0131. Veri Merkezi sat\u0131\u015flar\u0131 %92 s\u0131\u00e7rad\u0131. Opsiyonda oynakl\u0131k d\u00fc\u015ft\u00fc; call spread cazip, put sat\u0131\u015f\u0131 izlenir.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-49244","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/49244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=49244"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/49244\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=49244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=49244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=49244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}