Wall Street Still Loves NVIDIA
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The losses spread to Asia, where Japan’s Nikkei 225 index fell 1.8 per cent and South Korea’s Kospi slid 3.4 per cent on Friday morning. Hong Kong’s Hang Seng benchmark was down 1.8 per cent, and mainland China’s CSI 300 declined 1.4 per cent.
Analysts upgraded their outlooks for Nvidia stock on Thursday after a big earnings report from the AI chip maker.
Markets are exploding on Nvidia (NASDAQ: NVDA) earnings. Just last night, Nvidia posted EPS of $1.30, which beat estimates by four cents. Revenue of $57 billion, up 62.5% year over year, beat by $1.91 billion.
Jay Goldberg, the only sell-side analyst with a bearish rating on Nvidia's stock, saw "a few blemishes" despite Nvidia's "good quarter and solid guidance." "For starters, the company sounded fairly cautious about gross margins next year,
Analysts say Nvidia's blockbuster earnings show the AI boom is still accelerating and that fears of an AI bubble are overstated.
Nvidia reported quarterly results that handily topped Wall Street expectations, sending the stock sharply higher in after-hours trading.
Wall Street stocks slid on Thursday in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia's earnings and U.S. jobs data muddied the labor market outlook.
The better market mood triggered by Nvidia's barnstorming earnings and outlook is reducing concerns about sharp, and possibly negative, stock market moves. The Cboe Volatility index (VIX), is an option-derived measure of expected S&P 500 moves,
Nvidia designs the semiconductors used to develop, teach and run AI on computers around the world. It reports earnings on Wednesday.
Wall Street's main indexes were set for a higher open on Thursday as technology stocks got a boost after Nvidia's stellar results quelled some concerns around an AI bubble, while investors assessed the September jobs report.
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