Nvidia’s high-flying earnings aren’t good enough

September 03, 2024

FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023.

REUTERS/Dado Ruvic/Illustration/File Photo

Nvidia’s earnings reports have become a cultural phenomenon, with super-fan investors even throwing watch parties to tune into how high-flying the chip maker’s marks will be each quarter.

Last week, Nvidia, whose chips have fueled the current AI boom, reported more than $30 billion in sales in the second quarter of its fiscal year, up 122% from the same quarter last year. But even though it beat Wall Street analyst predictions, the stock sagged 7% after the report.

Nvidia’s stock is up 147% since the start of 2024, leading the hottest part of the stock market. While some wonder if AI is little more than a speculative bubble with AI stocks soaring, Nvidia is now the third-most-valuable company globally, and the biggest question each quarter is: How good is good enough for investors?

Congolese ceasefire collapsing as peacekeepers’ mandate extended

Malawi soldiers part of the Southern African Development Community (SADC) military mission for eastern Congo, wait for the ceremony to repatriate the two bodies of South African soldiers killed in the ongoing war between M23 rebels and the Congolese army in Goma, North Kivu province of the Democratic Republic of Congo February 20, 2024.

REUTERS/Arlette Bashizi

Fighters from the M23 rebel group in northeastern Congo have been targeting civilians in violation of a July ceasefire agreement, according to the Southern African Development Community, whose peacekeeping mandate was extended by a year on Wednesday.

Nvidia’s high-flying earnings aren’t good enough

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