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Co-Founder and Director at HyFlux, and myMaskFit | MBA | BEng | 2024 Uplink World Economic Forum Top Innovator

NVIDIA Shares Drop Despite Doubling Revenue, Amidst Lofty Expectations Shares in Nvidia fell by more than 5% on Thursday afternoon as the chipmaker’s latest earnings report failed to meet Wall Street’s high expectations, despite a 122% increase in revenue in the last quarter. This dip took over $150bn off Nvidia’s market value, though the company’s shares remain up nearly 150% since the start of 2024. Deutsche Bank’s macro strategist Henry Allen noted, “The revenue outperformance was the smallest relative to expectations in six quarters, so this wasn’t the sort of massive beat that Nvidia has often reported.” Despite the decline, Nvidia’s CEO Jensen Huang reassured investors of the company’s robust outlook, emphasizing continued innovation in AI chip production. Bank of America analyst Vivek Arya, PhD called the share price moves “quarterly noise” and highlighted Nvidia’s “unique growth at a very reasonable valuation.” As Nvidia continues to be a “bellwether” for the broader technology industry, its earnings are now viewed as crucial as the Federal Reserve’s monetary policy decisions, says Jefferies strategist Mohit Kumar. #Nvidia #AI #TechStocks #WallStreet #Innovation #MarketTrends

Nvidia valuation takes $150bn hit on outlook fears

Nvidia valuation takes $150bn hit on outlook fears

ft.com

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