This is likely to have hurt the company’s bottom line in the to-be-reported quarter.
What Is in the Cards for Q2?Ī preliminary look into the company’s Q2 financials reveals that it faces a revenue shortfall of $2 billion, resulting from price cuts to encourage sales. A combination of a weak preliminary Q2 announcement and a broader tech market sell-off has hurt the stock, which is heading into the earnings release. However, more specifically, Nvidia lost about 5% at the market close on Monday. Nvidia has lost almost 44% of its valuation so far this year, due to challenges like component shortages, high input costs, foreign exchange headwinds, geopolitical friction, and high borrowing rates. This is because the strong processing power of Nvidia’s technology is exactly what is needed to support the next generation of AI and other immersive technologies. With metaverse and other hyper-realistic technologies on the tech world’s horizon, the demand for Nvidia’s graphical hardware is on the rise. NVIDIA leads the world in visual computing technologies and is best known for the invention of the highly popular graphic processing unit (GPU). Ahead of its results, we will discuss a few key questions and factors that could have possibly shaped its Q2 performance. The results come at a time when the market is jittery about more interest rate hikes this year, leading to a recession.
Semiconductor powerhouse Nvidia ( NVDA) is on deck to report its second-quarter fiscal 2023 results after the closing bell on August 24.
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