Nvidia, Artificial Intelligence
Nvidia stock slips even after earnings top Wall Street estimates and demand for AI chips surges
Nvidia may have exceeded Wall Street estimates as its profit jumped — buffeted by the chipmaking dominance that has cemented Nvidia’s place as the poster child of the artificial intelligence boom — but investors seemed less than impressed.
Nvidia’s sin against Wall Street was that its earnings weren’t even better. Here’s why no one should have been surprised.
The U.S. stock market’s reaction to Nvidia’s earnings report illustrates how unrealistic investors are about the tech giant’s future growth rate. Nvidia reported second-quarter revenue that was more than double the year-ago quarter and was even better than the consensus Wall Street expectation.
Meet the New Stock-Split Stock That Outperformed Nvidia in the First Half and Wall Street Thinks Could Almost Double
And this stock is Super Micro Computer ( SMCI 0.07%), a company that saw its stock price soar 188% in the first half, surpassing Nvidia's 149% increase. Though individual forecasts vary, the average Wall Street estimate calls for the stock to climb 90% from today's level.
Nvidia Stock Has 41% Upside, According to 1 Wall Street Analyst
In doing so, Nvidia has reached a nosebleed valuation and now trades at 40 times forward earnings. Investors believe that Nvidia's stock doesn't have a ceiling right now, considering the potential of AI to disrupt life as we know it.
Opinion
Nvidia’s sin against Wall Street was that its earnings weren’t even better. No one should have been surprised.
The U.S. stock market’s reaction to Nvidia’s NVDA earnings report illustrates how unrealistic investors are about the tech giant’s future growth rate.
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