NVIDIA shares are trading lower despite better-than-expected Q3 earnings and strong guidance. The stock may be under pressure after the company said it expects sales in China to decline amid export restrictions. Additionally, the stock experienced a strong run going into Q3 earnings.
Portfolio Pulse from Benzinga Newsdesk
NVIDIA reported better-than-expected Q3 earnings and provided strong guidance, but shares are trading lower due to anticipated sales decline in China caused by export restrictions.
November 22, 2023 | 3:37 pm
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NVIDIA's stock is trading lower even after reporting strong Q3 earnings and guidance, as the company expects a decline in sales in China due to export restrictions.
NVIDIA's stock is likely to face short-term downward pressure as investors react to the negative sales outlook in China, which is a significant market. Despite the positive earnings report, the concerns over export restrictions and their impact on future sales are likely to weigh on investor sentiment.
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