Nvidia stock dips post-earnings, but retail investors surge, buying $5.9B in shares.
Stock Earnings Results
September 3, 2024
Nvidia’s stock dropped post-earnings, but this didn’t rattle the market. Investors sought clear signals about AI's future but found mixed results instead.
Nvidia's second-quarter earnings beat expectations, yet its third-quarter revenue forecast didn't impress. The stock's modest decline, less than the options market's anticipated 10% move, indicates the market wasn’t overly concerned.
However, retail investors' purchases of Nvidia stock have hit $5.9 billion over the last month, which is the most recent record. Purchases have doubled in just 5 weeks, according to Vanda Research data.
Nvidia's CEO, Jensen Huang, couldn't fully ease Wall Street's worries as the company faces slower growth and a minor delay in launching its new chip, Blackwell.
Despite beating second-quarter earnings and revenue expectations, Nvidia's third-quarter forecast didn’t exceed analysts’ estimates, leading to a nearly 7% drop in its stock price after hours.
The slowdown in gross margins and data center sales raised questions , despite the company making $16.6B in profits that quarter, an increase of 168% year over year.
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