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SUMMARY
Jeremy Lefebvre discusses a major rally in his public stock portfolio, highlighting significant gains in AMD following positive developments in China, a strategic buy in ELF Beauty ahead of earnings, and Nvidia’s strong financial performance. The video covers implications for the semiconductor sector, long-term projections for ELF, and advice on portfolio construction and research.
MAIN POINTS
- AMD surges after CEO Lisa Su meets with China's vice premier, raising hopes for relaxed export controls and expanded business in China.
- Evercore ISI raises AMD's price target to $579, citing a shift in AI workloads from training to inference and AMD's positioning for this trend.
- ELF Beauty's earnings beat expectations with 35% revenue growth, and Jeremy details a $70,000 pre-earnings buy at $50 per share.
- ELF's management issues conservative guidance, but upcoming innovation and historical guidance beats suggest significant upside potential.
- Long-term projections for ELF target $200+ per share by 2030, with expectations for strong revenue and net income growth.
- Nvidia reports record results, beating revenue and EPS estimates, but the stock dips as high expectations temper market reaction.
- Advice is given on portfolio diversification, the importance of conference calls, and staying focused on long-term company fundamentals.
DETAILED ANALYSIS
A remarkable trading day saw Jeremy Lefebvre’s public account rise by over $116,000, driven primarily by a substantial gain in AMD, which added $85,000 and now boasts cumulative gains of $858,000. The surge in AMD followed news that CEO Lisa Su met with Chinese Vice Premier He Lifeng in Beijing, a significant diplomatic engagement occurring shortly after meetings between U.S. and Chinese leaders and other tech CEOs. This meeting has fueled speculation that U.S. export controls on advanced semiconductors, particularly those used in artificial intelligence, may be relaxed, potentially opening the Chinese market to AMD and Nvidia.
Currently, China contributes minimally to these companies’ revenues due to strict export restrictions, but any thaw could dramatically increase demand, raise prices, and improve margins as Chinese buyers compete for limited chip supply. Such a development would also benefit other memory and chip manufacturers like Micron, SanDisk, SK Hynix, and Samsung.
The importance of the Chinese vice premier in policy execution underscores the magnitude of Su’s meeting. He Lifeng, a senior economist and high-ranking Communist Party member, is pivotal in shaping China’s economic and technological strategies. Direct engagement at this level signals that AMD is positioning itself for expanded operations in China, which could have multi-year positive implications for its business model.
In parallel, Evercore ISI, a leading investment banking advisory firm, raised its price target for AMD from $358 to $579, maintaining an outperform rating. Their analysis, based on Q1 AI channel checks, highlights a shift in AI workloads from training to inference—a transition AMD has anticipated and prepared for, according to statements from Lisa Su over a year ago. While Nvidia remains the leader for the most powerful chips, AMD’s value proposition lies in offering high-performance chips at a better return on investment, making it attractive for inference applications.
This shift, combined with increasing CPU demand (now approaching a 1:1 ratio with GPUs, compared to the previous 4-8:1), represents a fundamental change in AMD’s business outlook. Lefebvre suggests that market participants may soon price in several years of growth, potentially pushing AMD’s valuation toward $1,000 per share much earlier than his original 2029–2030 projection.
Turning to ELF Beauty, the stock rebounded after a period of heavy pessimism, having fallen from over $200 to $50. Lefebvre executed a $70,000 purchase at $50 per share just before earnings, citing the stock’s deep value and long-term potential. ELF reported 35% year-over-year revenue growth, beating Wall Street estimates on both revenue ($449 million vs. $422 million expected) and adjusted EPS (32 cents vs. 29 cents expected).
Despite a conservative outlook of 12–14% revenue growth, historical patterns show ELF’s management routinely guides low and subsequently raises forecasts throughout the year. The company’s cost structure was impacted by recent acquisitions, notably Road, but Lefebvre expects SG&A expenses to normalize over the coming quarters. A one-off non-cash charge related to contingent consideration led to an operating loss, but this is not expected to recur.
The easing of tariff uncertainties further brightens ELF’s outlook.
The conference call provided additional confidence, with CEO Tarang Amin delivering detailed, data-driven responses to tough questions. Notably, upcoming product innovation in the second half of the year is not reflected in current guidance, suggesting potential for significant outperformance. Lefebvre projects average annual revenue growth of 15% and net income growth of 20% through 2030, with a base case target of $200+ per share.
In a bullish scenario, these figures rise to 20% and 30%, respectively, with net margins reaching 14%. He anticipates substantial share buybacks unless further acquisitions are pursued, reinforcing the long-term investment thesis.
Nvidia’s latest results also drew attention. The company reported $81.6 billion in revenue, beating expectations, and delivered EPS of $1.85 versus $1.78 expected. Data center revenues and gross margins were strong, and Q2 guidance exceeded consensus, though not enough to excite the market given Nvidia’s $5 trillion market cap and high embedded expectations.
Despite an 85% increase in revenue and a 215% jump in EPS, the stock dipped 1% as investors digested the already lofty valuation. Nvidia returned a record $20 billion to shareholders through buybacks and dividends, with further authorizations in place. The company’s income statement received an A++ grade, with extraordinary gains from investments in AI startups like Anthropic and OpenAI contributing to a one-off $16 billion in other income.
The broader takeaway for the semiconductor sector is positive, as Nvidia’s performance demonstrates the scale of opportunity available to AMD and others. While Lefebvre does not expect AMD to reach Nvidia’s market cap, he sees the potential for AMD to become a trillion-dollar company. He concludes with general investment advice: construct a diversified portfolio, prioritize long-term company fundamentals over short-term results, and always review conference calls and financial statements to stay informed.
LINKS
- Patreon 1-day sale signup link for May 25, 2026.
- Application page for Jeremy Lefebvre's Private Stock & Wealth Group with access to 1000xStocks.
- Patreon page for supporting the channel and viewing weekly stock buys.
- Free investing workshops on various topics.
- Jeremy Lefebvre's official Instagram account.
- Jeremy Lefebvre's X (formerly Twitter) account.
- Jeremy Lefebvre's Facebook profile.
- Jeremy Lefebvre's personal website.
- 1000XStocks official Instagram account.
- 1000XStocks official X (formerly Twitter) account.