Nvidia's best just isn't good enough for investors

Published On Aug 29, 2024, 2:28 PM

Nvidia reported a 122% increase in revenue for the second quarter, reaching $30 billion, driven largely by a 154% surge in data center revenue. Despite exceeding Wall Street expectations, Nvidia's stock fell by 3%, reflecting investor disappointment with only a 4.1% beat compared to previous much larger surprises. Concerns about delays in Nvidia's next-generation Blackwell chip also weighed on sentiments. Analysts remain optimistic about Nvidia's long-term growth prospects despite these setbacks, with several raising their price targets for the stock.