“Ada’s advancements include a new Streaming Multiprocessor, a new RT Core with twice the ray-triangle intersection throughput, and a new Tensor Core with the Hopper FP8 Transformer Engine and 1.4 petaflops of Tensor processor power.” InvestorPlace - Stock Market News, Stock Advice & Trading Tips Nevertheless, contrarian investors should see the pessimism as overstated - and with top-tier gaming tech, Nvidia might manage to prove the skeptics wrong. Nvidia’s quarterly results stoked the market’s bearish sentiment, and a Wall Street expert’s PC-industry concerns only add to the anxiety. Moreover, gaming-segment revenue declined 33% YOY, and that’s the company’s bread and butter. The company reported second-quarter fiscal 2023 GAAP earnings per diluted share of just 26 cents, down 72% year-over-year (YOY). If people hoped that Nvidia would single-handedly save the tech sector in August, they were surely disappointed. Besides, Nvidia’s latest GPU lineup is bound to be a game-changer, literally and otherwise. However, the shares are so beaten-down that it’s starting to look like an overreaction. As some investors fret over PC-market pressure, it might be tempting to give up on Nvidia altogether. To read this article on click here.Nvidia (NASDAQ: NVDA) stock is just one of many downtrodden tech stocks of 2022.
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The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 33% of all 250+ industries. The Semiconductor - General industry is part of the Computer and Technology sector. The Semiconductor - General industry currently had an average PEG ratio of 1.85 as of yesterday's close. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. We can also see that NVDA currently has a PEG ratio of 1.82. This valuation marks a premium compared to its industry's average Forward P/E of 9.94. Nvidia is holding a Zacks Rank of #3 (Hold) right now.ĭigging into valuation, Nvidia currently has a Forward P/E ratio of 29.92. Over the past month, the Zacks Consensus EPS estimate has moved 3.55% lower. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Our system takes these estimate changes into account and delivers a clear, actionable rating model. We developed the Zacks Rank to capitalize on this phenomenon. Our research shows that these estimate changes are directly correlated with near-term stock prices. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. These recent revisions tend to reflect the evolving nature of short-term business trends. Investors might also notice recent changes to analyst estimates for Nvidia. These totals would mark changes of +23.2% and +26.09%, respectively, from last year.
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Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.47 per share and revenue of $33.94 billion.
Our most recent consensus estimate is calling for quarterly revenue of $8.12 billion, up 24.84% from the year-ago period. This would mark year-over-year growth of 22.12%. In that report, analysts expect Nvidia to post earnings of $1.27 per share. Wall Street will be looking for positivity from Nvidia as it approaches its next earnings report date. Heading into today, shares of the maker of graphics chips for gaming and artificial intelligence had lost 3.62% over the past month, lagging the Computer and Technology sector's loss of 2.82% and the S&P 500's loss of 3.49% in that time. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.23%.
This change lagged the S&P 500's 0.95% gain on the day. In the latest trading session, Nvidia (NVDA) closed at $162.25, marking a -0.83% move from the previous day.
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