Nvda earnings date and time2/25/2023 However, even without the Arm deal, Nvidia does not look to have missed a beat. after competition regulators around the world balked at the tie-up. If there is one blemish on Nvidia, it is that the company was forced to abandon its planned $40 billion acquisition of British chipmaker Arm Ltd. Nvidia CEO Jensen Huang said in a statement that Nvidia’s supply constraints continue to ease and the company’s supply of products should increase “substantially” in the second half of this year. The company forecast revenue of $8.1 billion in the first quarter that just ended, which was higher than analyst expectations of $7.29 billion. The company attributed the strong earnings to continued demand for its semiconductor chips and the easing of global supply constraints.Įqually impressive was the forward guidance Nvidia provided. Nvidia also reported revenue for Q4 of $7.64 billion, up 53% year-over-year and higher than the $7.42 billion expected on the street. The Santa Clara, California-based company announced fourth-quarter earnings per share of $1.32, which was 69% higher than a year earlier and beat the $1.22 that was expected by analysts. In mid-February, Nvidia reported another in a string of exceptionally strong earnings reports. Among 40 analysts who cover Nvidia, the average price target on the stock is currently $344.27 a share, implying 43% upside. Bank of America sees Nvidia achieving massive growth from semiconductor chip sales tied to cloud computing and artificial intelligence, while Citibank said it sees several catalysts for NVDA stock this year, including the holiday gaming season and demand for data center chips. In recent notes to clients, Bank of America (NYSE: BAC) and Citigroup (NYSE: C) each recommended Nvidia as a top semiconductor stock. Currently trading at $240.50 a share, down over 30% from its 52-week high of $346.47, Nvidia’s stock looks to be on sale right now and is one of the best technology companies that investors can buy for the long-term. With its market leading position, strong earnings and future growth opportunities, investors should view the current pullback in NVDA stock as a buying opportunity. Down 18% year-to-date (YTD), now is a great time to buy shares of semiconductor giant Nvidia (NASDAQ: NVDA).
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