NVDA Earnings bring it into the $1 trillion club, and push valuations to the highest on record
Nvidia $NVIDIA(NVDA.US$ delivered impressive financial results and provided a promising revenue forecast for the upcoming quarter. The company reported strong earnings for the April quarter, with adjusted earnings per share surpassing Wall Street's expectations. Despite a decline in gaming revenue, Nvidia experienced a 14% increase in sales for its data center segment, primarily driven by the growing demand for artificial intelligence (AI) applications.
Nvidia's revenue outlook for the July quarter is quite impressive, as the company anticipates a significant surge in revenue, citing the soaring demand for its AI-enabled chips. The company's CEO, Jensen Huang, emphasized the ongoing industry transitions towards accelerated computing and generative AI, showcasing Nvidia's comprehensive range of data center products designed to meet the increasing demand.
Nvidia's success can be attributed to its position as a leading provider of chips for AI, cloud computing, and gaming applications. With a strong focus on generative AI, Nvidia's chips have gained substantial attention from investors and consumers alike. The release of OpenAI's ChatGPT has further fueled interest in this AI technology, propelling Nvidia's growth prospects.
We believe NVDA is one of the hottest names in tech, but must be patient in awaiting better levels for this premier name.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Jet Bomb : the company is absolutely not worth 33× it net revenue check the actual income ratio the s/p is off 33× its actual revenue! you lint lickers will suck anything to stay relevant! never doing your own dd!
101785677 : hahah a guidance of 11b revenue next quarter when it’s revenue this quarter of only 7b is still worse than the previous year with 8b. that’s some big bullshit we are hearing from nvda. a more than 50% increase in revenue in one quarter when all signs are showing the revenue is dropping.
TRIUMPHANT RETURNS : Larry has been polling n polling , from china adrs to AI...AI mania is exactly what smart money needs to get themselves out before the avalanche happens just like the dotcom.