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Symbol NVDA
Name NVIDIA Corporation
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City Santa Clara
Zipcode 95051
Website http://www.nvidia.com
Nvidia's CEO Jensen Huang praised Google's NotebookLM AI tool, highlighting its ability to summarize documents and facilitate engaging audio conversations. He emphasized the importance of AI inference for various business applications and expressed confidence in the growth of Nvidia's GPU sales, particularly with the upcoming "Blackwell" chip, as demand continues to outstrip supply.
Nvidia reported a remarkable quarterly revenue of $35 billion, a 94% increase year-on-year, with net income soaring to $19.3 billion, up 109%. Over the past year, Nvidia's sales reached $113.3 billion, capturing 30% of Apple's and 45% of Microsoft's sales, while its profits of $63.1 billion are nearing those of its rivals. The company boasts a gross margin of 75% and anticipates continued demand for its new Blackwell chips, highlighting the transformative impact of artificial intelligence across industries.
Nvidia reported record revenues of $35.1 billion in Q3 2024, a 94% increase year-on-year, driven by a 112% growth in its data center segment due to rising demand for AI solutions. The company holds an 80% market share in AI semiconductors and anticipates further growth in automotive and edge computing sectors. With a perfect Piotroski score and a commitment to sustainable technologies, Nvidia is well-positioned for future expansion.
Nvidia's quarterly results exceeded expectations, dispelling concerns over its Blackwell chips, with improved gross margins anticipated next year. Following this, Nvidia shares are set to open over 1% higher, contributing to a positive trend in U.S. stock benchmarks. Meanwhile, Palo Alto Networks reported a strong quarter, highlighting a 21% increase in remaining performance obligations, as CEO Nikesh Arora shifts focus from billings to a more accurate growth depiction.
On Thursday, November 21, 2024, major analyst calls were made regarding several prominent companies, including Nvidia, Tesla, Salesforce, Chevron, Dell, Snowflake, and Netflix. These evaluations are expected to influence market perceptions and investment strategies moving forward.
NVIDIA Corporation leads in the design and marketing of programmable graphics processors, with 77.8% of sales from IT and networking solutions, including data centers and AI infrastructure. The company also generates 22.2% of revenue from graphics processors for gaming and professional use. Geographically, 44.3% of sales come from the USA, followed by Taiwan (22%) and China (16.9%).
UBS has rated Nvidia a 'Buy' with a target price of $185. The company excels in designing programmable graphics processors, with 77.8% of net sales from computer and networking solutions, and 22.2% from graphics processors. Key markets include data storage (78%) and gaming (17.1%), with significant sales in the U.S. (44.3%), Taiwan (22%), and China (16.9%).
Nvidia Corp. reported results that surpassed estimates, yet the stock's remarkable 800% gain over two years has led to heightened expectations. Analysts noted that the company's revenue forecast for the current quarter only exceeded estimates by $400 million, marking a decline in hyper growth as it failed to surpass the $1 billion threshold for the second consecutive period.
Nvidia shares fell 3.21% in premarket trading after the company reported third-quarter earnings that, despite beating expectations with $35.08 billion in revenue (up 94% year-on-year), indicated a slowdown in growth compared to previous quarters. This decline affected other chipmakers, with Intel, Qualcomm, and AMD also experiencing losses. Analysts remain optimistic about Nvidia's future, particularly with the anticipated launch of its next-generation chip, Blackwell, amid strong demand.
Global indices, including the FTSE 100, S&P 500, and Nikkei 225, are facing early pressure following Nvidia's recent earnings report, contributing to a cautious market sentiment. The FTSE 100 has fluctuated around 8100, with resistance noted below 8200 and support at 8300. The S&P 500 shows indecision, maintaining a short-term low near 5850, while the Nikkei 225 has dropped, with critical support at 37,700.
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