Still, Nvidia’s strong growth in the category continued. In that area, NVDA news looks much better than that of AMD, whose cryptocurrency reliance was flagged by analysts coming out of its Q3 report.
Cryptocurrency demand has helped, but per the Q3 conference call sales actually fell quarter-over-quarter. A closer look shows strength across the board. Gross profit expanded 50 bps year-over-year, and the company guided for a 60% non-GAAP figure in Q4, which simply is a huge number for a chipmaker.Īnd this isn’t a case where the headline numbers are masking weakness within the business. Revenue, too, beat analyst expectations, rising 32% year-over-year. Non-GAAP EPS of $1.33 beat consensus expectations by 38 cents. Nvidia’s fiscal Q3 earnings were something close to flawless. At this point, it’s silly to keep fighting the tape and Nvidia’s growth. Over the past few years, Nvidia has made fools of bearish observers (myself included). The valuation looks high – but NVDA news is nothing but good and there are years of growth ahead of the company. Artificial intelligence adoption is gaining speed.
(NASDAQ: AMD) and an awakened Intel Corporation (NASDAQ: INTC).Īt this point, however, the bear case for NVDA stock seems shattered. The company posted another earnings blowout last week. I’ve expressed some concerns along the way as well, citing potential competition from rivals like improving Advanced Micro Devices, Inc. It seems like ages ago, but as recently as early March NVDA had pulled back more than 15% and dipped below $100 on a pair of analyst downgrades. Even in a very strong market for large-cap tech, NVDA stock has been a star.īut the stock hasn’t been without its skeptics. NVDA news seemingly has been nothing but positive. The NVDA stock price has doubled so far this year, and it has more than tripled in the last 12 months. Nvidia Corporation (NASDAQ: NVDA) has had a banner 2017.
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