Analyzing NVIDIA Stock After Q3 Earnings

$NVIDIA(NVDA.US)$ NVIDIA’s NVDA Q3 earnings were much anticipated as one of the 10 largest components of the Nasdaq 100. The stock also tends to have big movements after reporting. On the contrary, NVIDIA’s movement following yesterday’s report has been subtle.

Let’s take a look at what’s going on with NVDA stock post-earnings.

Investor sentiment toward semiconductors stocks has been low this year as consumers strayed away from technology products during a high inflationary environment. Better than expected CPI numbers last week and Q3 earnings mostly in line with estimates from AMD earlier in the month had given NVDA stock a boost before its release.

NVDIA’s dominance as a worldwide leader in visual computing technologies and the inventor of the graphic processing unit (GPU) made its Q3 results and guidance significant to the broader outlook for chip demand.