From Nasdaq: 2024-11-21 17:06:42

Nvidia reported an outstanding Q3, exceeding Wall Street’s expectations with revenues of $35.1 billion and EPS of $0.81. Despite this, the stock initially dipped to $141 after closing at $146. Market sentiment can often exceed even strong performance, causing temporary drops in stock prices. However, Nvidia’s long-term potential remains solid.

Nvidia’s success is driven by its data center segment and strong demand for its Superchips. The company confirmed that Blackwell, its newest chip iteration, is on schedule and in high demand. Beyond the U.S., Nvidia is finding commercial success worldwide, with new AI data centers in countries like India, Japan, and Indonesia.

Investors should consider the long-term potential of Nvidia, as short-term stock fluctuations are common after earnings reports. The Motley Fool’s Stock Advisor analysts have identified 10 top stocks for investors to buy now, with Nvidia not making the list. Despite this, Nvidia has a strong track record and continues to show promise for future growth. 1. The stock market reached record highs today with the Dow Jones Industrial Average surging by 300 points, closing at 35,000. The S&P 500 also saw gains, hitting a new all-time high of 4,500. This rally was fueled by positive economic data and strong earnings reports from major companies.

2. In other news, the unemployment rate dropped to 4.5%, the lowest level since the start of the pandemic. The Labor Department reported that 943,000 jobs were added in July, exceeding expectations. The job gains were seen across various sectors including hospitality, retail, and professional services.

3. Climate change continues to be a pressing issue as temperatures soar to record levels in various parts of the world. The latest heatwave in Europe has resulted in wildfires, crop failures, and strained energy resources. Scientists warn that urgent action is needed to mitigate the effects of global warming.

4. The Tokyo Olympics have been marred by controversy as several athletes test positive for COVID-19. Despite strict protocols and precautions, the virus has still managed to spread among participants. This has raised concerns about the safety of the Games and the potential impact on the health of athletes and staff.



Read more at Nasdaq: Nvidia’s Stock Was Down Despite Its Amazing Earnings. Here’s What History Says Is Coming Next