Nvidia Reports Earnings Today- Why the market is worried?
Concerns that the FED will continue its tightening policies with aggressive interest rate hikes are putting enough pressure on the markets.
There are big earnings releases after the close when tech companies including Salesforce.com (CRM) and Nvidia (NVDA) report results.
Cathie Wood’s ARK funds sold shares in Nvidia ahead of the results.
After a recent string of recent troubles for Nvidia, investors are wondering how soon the chip maker’s business can bounce back. They will get an important update after the close Wednesday when the company posts its latest numbers and outlook.
Earlier this month, Nvidia pre-announced disappointing results for its fiscal second quarter. At the time, the company said it expects July quarter revenue to be $6.7 billion, significantly below its $8.1 billion prior guidance. It cited weaker-than-expected gaming segment sales and a difficult macroeconomic environment while adding that “challenging market conditions” are expected to continue in the fiscal third quarter.
Barrons.com " Since then, Wall Street analysts have been lowering their consensus numbers for Nvidia. They now estimate the company to report July quarter revenue of $6.7 billion—in line with Nvidia’s latest forecast—with adjusted earnings per share of 50 cents. Analysts’ forecast for the current quarter’s revenue is $6.9 billion.
Earlier this week, Bernstein analyst Stacy Rasgon reaffirmed his Outperform rating on Nvidia stock, citing its future pipeline of products."
Cycle Sniper is below 0 and headed south on 4H TF.
Momentum (20) and MFI (14) entering negative territory.
A worse-than-expected result may send the price down to 140.
There are big earnings releases after the close when tech companies including Salesforce.com (CRM) and Nvidia (NVDA) report results.
Cathie Wood’s ARK funds sold shares in Nvidia ahead of the results.
After a recent string of recent troubles for Nvidia, investors are wondering how soon the chip maker’s business can bounce back. They will get an important update after the close Wednesday when the company posts its latest numbers and outlook.
Earlier this month, Nvidia pre-announced disappointing results for its fiscal second quarter. At the time, the company said it expects July quarter revenue to be $6.7 billion, significantly below its $8.1 billion prior guidance. It cited weaker-than-expected gaming segment sales and a difficult macroeconomic environment while adding that “challenging market conditions” are expected to continue in the fiscal third quarter.
Barrons.com " Since then, Wall Street analysts have been lowering their consensus numbers for Nvidia. They now estimate the company to report July quarter revenue of $6.7 billion—in line with Nvidia’s latest forecast—with adjusted earnings per share of 50 cents. Analysts’ forecast for the current quarter’s revenue is $6.9 billion.
Earlier this week, Bernstein analyst Stacy Rasgon reaffirmed his Outperform rating on Nvidia stock, citing its future pipeline of products."
Cycle Sniper is below 0 and headed south on 4H TF.
Momentum (20) and MFI (14) entering negative territory.
A worse-than-expected result may send the price down to 140.
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