In this video, I will be talking about the recent news that came out with regards to Nvidia (NVDA 2.33%) and what that could mean for the stock after it reports earnings on Wednesday, May 25.
- Nvidia is taking a pause on hiring new employees to focus on onboarding the new hires it recently made. We've seen various companies cut hiring and even lay off employees to cut costs.
- For Q1, the company expects revenue to come in at $8.1 billion, plus or minus 2%.
- An analyst at Wells Fargo has cut his price target for Nvidia from $370 to $250 but is keeping an overweight rating.
- Another analyst at Daiwa warns investors of a recession risk that could harm semiconductor stocks like Nvidia.
- All eyes will be on the company's guidance and how it expects to navigate the current difficult macro environment.
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*Stock prices used were the closing prices of May 20, 2022. The video was published on May 23, 2022.