Why Nvidia Stock Is Losing Ground Premarket Ahead Of Q1 Results
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) shares fell 1.57% in premarket trading ahead of its Q1 results, with an expected YoY earnings per share decline of over 32% to $0.92 and a 21% revenue drop to $6.52 billion. Raymond James analyst Srini Pajjuri expects better results and outlook due to booming generative AI demand and the H100 product ramp.
May 24, 2023 | 10:56 am
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Nvidia's stock fell 1.57% in premarket trading ahead of Q1 results, with expectations of a YoY earnings decline. Analyst Srini Pajjuri expects better results due to AI demand and H100 product ramp.
Nvidia's stock is falling in premarket trading due to the expected decline in earnings and revenue. However, the analyst's optimism about AI demand and the H100 product ramp could potentially offset the negative impact. The pre-earnings jitters and market-wide sour mood due to looming debt default concerns may also be contributing to the stock's decline.
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