Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surges

A sign for a Nvidia office building is shown in Santa Clara, Calif., Wednesday, Aug. 7, 2024. LOS ANGELES — Nvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom — but investors seemed less than impressed.

Ryan Detrick, chief market strategist at Carson Group, said that despite growing revenue “it appears the bar was just set a tad too high this earnings season.” “The people who are investing in Nvidia infrastructure are getting returns on it right away,” Jensen Huang, founder and CEO of Nvidia, said on a call with analysts. “It’s the best ROI infrastructure, computing infrastructure investment you can make today.”

Through the year’s first six months, Nvidia’s stock price soared nearly 150%. At that point, it was trading at a little more than 100 times the company’s earnings over the prior 12 months. That’s much more expensive than it’s been historically and than the S&P 500 in general. That’s why analysts warn of a selloff if Wall Street sees any indication that AI demand is waning.

“This is the most watched earnings — not just in tech, but in the market, in many years,” he said. “Investors will initially overreact to any sort of short-lived weakness. But I believe this actually put more fuel into the tank of the bull market.”

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surgeNvidia has led the artificial intelligence boom to become one of the stock market’s biggest companies, as tech giants continue to spend heavily on the company’s chips and data centers needed to tra…
Herkunft: denverpost - 🏆 13. / 72 Weiterlesen »

Nvidia stock slips despite 2Q earnings topping Wall Street estimates, high AI chip demandNvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia's place as the poster child of the artificial intelligence boom — but investors seemed less than impressed.
Herkunft: KPIXtv - 🏆 443. / 53 Weiterlesen »

Stock futures are little changed as Wall Street looks toward Nvidia earnings: Live updatesStocks rose modestly on Tuesday, with Nvidia giving the S&P 500 and Nasdaq Composite a boost.
Herkunft: nbcchicago - 🏆 545. / 51 Weiterlesen »

Nvidia's earnings beat Wall Street's estimates as AI momentum continuesNvidia's second-quarter earnings beat Wall Street analysts' expectations, with total sales and revenue from data centers coming in ahead of estimates amid strong demand for AI chips.
Herkunft: FoxBusiness - 🏆 458. / 53 Weiterlesen »

S&P 500 futures rise marginally as Wall Street looks toward Nvidia earnings: Live updatesStocks rose modestly on Tuesday, with Nvidia giving the S&P 500 and Nasdaq Composite a boost.
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »