Nvidia's beat wasn't enough to impress Wall Street

Published On Aug 29, 2024, 4:45 AM

Nvidia Corp. reported its earnings with a forecast that disappointed investors, leading to a significant drop in its stock price. Although they met or exceeded most revenue estimates, the company faced production issues with its new Blackwell chips, which are crucial for future growth. Nvidia's stocks fell by 6.4% in one day, raising concerns about the sustainability of its previous rapid growth amidst pressures from high expectations and a potential oversupply in the AI market.

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Stock Forecasts

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Given the disappointing forecast, ongoing production challenges, and heightened investor expectations leading to a recent stock surge, Nvidia's stock may continue to face downward pressure in the short term as investors reassess the company’s growth potential and overall market conditions.

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