Excluding the one-time charge for the termination of the Arm acquisition, profits were equally impressive, as adjusted earnings per share of $1.36 climbed 49%.Įven if Nvidia falls victim to the trends weighing on the broader semiconductor industry, the future looks bright. For its fiscal 2023 first quarter (ended May 1, 2022), the company generated record quarterly revenue of $8.29 billion, up 46% year over year. ![]() If Nvidia's prior results are any indication, however, things may not be as bad as analysts are painting them. It will be another month before Nvidia shares the results of its most recent quarter, so the musings of an analyst or two about the direction of the broader sector may or may not have a significant impact on the company's results. ![]() Deutsche Bank analyst Ross Seymore was even more cautious, writing, "The ongoing 'purgatory' stage of the semiconductor cycle continues to be in full effect as we head into earnings season." Now what In a note to clients on Monday, Curtis posited the rebound is a "head fake," further suggesting that a "large cut to earnings" will happen during the next 12 to 18 months.Ĭurtis isn't the only one sounding the alarm. The analyst is downplaying recent gains on the semiconductor space, believing there are more declines to come. ![]() So whatīarclays analyst Blayne Curtis lowered his price target on Nvidia to $200, down from $295, while maintaining his overweight (buy) rating on the stock, according to The Fly. While the chipmaker was no doubt caught up in a down day for technology stocks, bearish comments by a couple of Wall Street analysts weighed further on its share price. Shares of Nvidia (NASDAQ: NVDA) tumbled on Monday, falling as much as 3.9%.
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