Nasdaq NVDA Nvidia

NVIDIA Corporation NVDA is scheduled to release second-quarter fiscal 2023 results on Aug 24.

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For Immediate ReleaseChicago, IL – August 19, 2022 – Zacks Equity Research shares Exxon Mobil Corp. XOM as the Bull of the Day and Nvidia NVDA as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Tesla TSLA, General Motors GM and Ford F.

Nvidia NVDA is a chip superstar that’s expanded its reach far beyond the gaming industry into data centers and beyond.

4 Trending Semiconductor Stocks To Watch In The Stock Market NowSemiconductor stocks are stocks of businesses that manufacture chips for electronic devices. The semiconductor industry has been one of the fastest-growing industries in the world for several decades and is expected

U.S. stocks ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong.

The S&P 500 and Nasdaq ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong.

The S&P 500 and Nasdaq were up slightly in afternoon trading Thursday as Cisco Systems shares jumped on an upbeat sales forecast, but trading was choppy as investors assessed the outlook for interest rate hikes.

Wall Street's main indexes struggled for direction and pared early gains Thursday as investors scrutinize the Federal Reserve's minutes of the July meeting for a "less hawkish" tone against the backdrop of data that had eased inflation worries.

Technology stocks have finally caught a break recently after having been hammered by investors since the start of 2022. Although the Nasdaq Composite remains down 18.3% year to date, the tech barometer has gained 11.4% over the past month in light of better-than-expected inflatio

Nvidia (NASDAQ:NVDA) pre-announced its Q2 financials that were significantly lower than its previous guidance. Despite the noteworthy reduction in sales and margins, the NVDA stock forecast on TipRanks shows that Wall Street continues to be optimistic about its prospects, given its AI and data center leadership and attractive valuation. 

NVDA Stock: The Worst Is Over!

NVDA announced preliminary Q2 revenue of $6.70 billion compared to its guidance of $8.10 billion. The significant cut reflects lower sell-in of gaming products due to macro headwinds. NVDA’s CEO, Jensen Huang, said, “Our gaming product sell-through projections declined significantly as the quarter progressed.”

While data center revenue improved sequentially and year-over-year, it came somewhat lower than NVDA’s projection due to the supply chain disruptions.

Along with sales, NVDA announced a preliminary adjusted gross margin of 46.1%, drastically lower than its outlook of 67.1%. 

While the shortfall in revenue and margins from the previous outlook is worrying, analysts believe that bad news is already out. Further, the momentum in the data center and NVDA’s AI (Artificial intelligence) capabilities could continue to support its growth. 

In response to NVDA’s weak preliminary Q2 announcement, Needham analyst Rajvindra Gill stated that “the street may be buying into the “kitchen sink” narrative,” which implies revealing all the bad news in one go. Gill lowered his near-term estimates but kept his FY24 estimates unchanged. Also, he retained his Buy recommendation on NVDA stock. 

NVDA’s strong balance sheet, attractive valuation, and AI and data center leadership support Gill’s bullish outlook.    

What is the Prediction for Nvidia Stock?

Wall Street analysts are bullish about NVDA stock. It has received 25 Buy and seven Hold recommendations for a Strong Buy rating consensus. Moreover, analysts’ average price target of $235.39 implies 28.4% upside potential. 

While analysts are bullish, hedge funds and insiders have been selling NVDA stock. Hedge funds sold 575.9K NVDA stock in the last quarter. Meanwhile, insiders sold NVDA stock worth $87.9M. Overall, it has a Neutral Smart Score of 4 out of 10 on TipRanks. 

Bottom Line: Near-term headwinds to Play Spoilsport 

NVDA’s long-term fundamentals remain intact. However, near-term weakness in gaming revenues, lower average selling prices, and uncertainty over margins could continue to pose challenges for NVDA stock.

Disclosure 

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What happened Shares of semiconductor leader Nvidia (NASDAQ: NVDA) were under pressure today, down 3.4% as of 12:30 p.m. ET. There was no company-specific news causing the slump in stock price. However, after a multi-week rally off of lows in late June, tech stocks in general wer

Wall Street's main indexes fell on Wednesday as growth stocks came under pressure after bond yields climbed ahead of minutes from the Federal Reserve's July meeting, while weak results from Target dragged the retail sector lower.

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Wall Street's main indexes fell on Wednesday with growth stocks under renewed pressure as bond yields climbed ahead of minutes from the Federal Reserve's July meeting, while weak results from Target dragged the retail sector lower.

Wall Street expects a year-over-year decline in earnings on higher revenues when Nvidia (NVDA) reports results for the quarter ended July 2022. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could i

In this podcast, Motley Fool senior analysts Emily Flippen and Jason Moser discuss:

We will look at the leaders shaping the space and the possibilities in this virtual new world.

Sometimes, companies choose to divulge earnings before their scheduled date. Nobody does this if results are in line -- it's only done if they are either really good or terrible. This decision to report early is a sign of honest management as they want shareholders to know if any