As Nvidia Tumbles Post Q2 Earnings, Tech Bull Draws Parallels To Market's Reaction To Apple Stock After WWDC 2024: 'We Always Focus On Demand, Guidance, And Growth'
Portfolio Pulse from Ananya Gairola
Nvidia's Q2 earnings exceeded expectations, but shares fell due to a shift in sentiment. Analyst Dan Ives compares this to Apple's post-WWDC 2024 stock performance, emphasizing the importance of demand, guidance, and growth. Nvidia's future production plans are generating strong customer anticipation.
August 29, 2024 | 10:08 am
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POSITIVE IMPACT
Apple's stock initially fell post-WWDC 2024 but has since risen, highlighting the importance of demand, guidance, and growth metrics.
Apple's stock performance post-WWDC serves as a comparison for Nvidia's current situation. The focus on demand, guidance, and growth led to a positive turnaround for Apple, suggesting potential for Nvidia.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Nvidia's Q2 earnings exceeded expectations, but shares fell due to a shift in sentiment. Despite strong data center revenue, gross margin contraction and future production plans were noted.
Nvidia's strong Q2 performance was overshadowed by a slight decline in stock price, similar to Apple's post-WWDC reaction. The market may be reacting to gross margin contraction and future production plans, which are generating anticipation.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100