Is Nvidia a Buy or Sell Before Earnings?

By Neil Rozenbaum – Aug 8, 2022 at 10:30AM

NASDAQ: NVDA

Nvidia

Market Cap

$2,061B

Today's Change

(1.47%) $12.12

Current Price

$836.35

Price as of April 24, 2024, 9:46 a.m. ET

Intel and AMD have given us a sneak peek of what to expect.

In this video, I talk about what to expect from Nvidia's (NVDA 1.47%) second-quarter earnings, especially after what companies like Intel and Advanced Micro Devices have shown us these past few weeks.

Nvidia announced today preliminary Q2 revenue of $6.7 billion, which is a huge miss when you look at the outlook it gave in Q1 of $8.1 billion.
The company says that the miss is driven by weaker gaming revenue, as we had seen when AMD reported earnings.
But unlike Intel, Nvidia's date center segment did grow 61% year over year (YOY).
The gaming segment fell 33% YOY and is down 44% quarter over quarter.
Nvidia will discuss its financial results and outlook on an Aug. 24 earnings call.
It seems like even a company like Nvidia is not immune to tough macro conditions.

For the full insights, do watch the video, consider subscribing, and click the special offer link below.

*Stock prices used were the closing prices of Aug. 5, 2022. The video was published on Aug. 8, 2022.

Neil Rozenbaum has positions in Intel. The Motley Fool has positions in and recommends Advanced Micro Devices, Intel, and Nvidia. The Motley Fool recommends the following options: long January 2023 $57.50 calls on Intel and short January 2023 $57.50 puts on Intel. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.