20.40 -1.09 (-5.07%)
Pre-Market: 5:46AM EST
|Bid||20.40 x 3200|
|Ask||20.40 x 800|
|Day's Range||20.42 - 21.77|
|52 Week Range||9.04 - 34.14|
|Beta (3Y Monthly)||5.05|
|PE Ratio (TTM)||74.36|
|Earnings Date||Jan 28, 2019 - Feb 1, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.17|
Advanced Micro Devices Inc. stock fell 6.5% in the extended session Thursday after Nvidia Corp. released earnings that included graphics processing unit inventory issues. On its conference call late Thursday, Nvidia said that its GPU inventories were building up, creating a backlog of unsold cards and chips. The inventory issue was also affecting competitors, Nvidia said. "I think the channel has more than 12 weeks of inventory between us and the other brand," Nvidia Chief Executive Jensen Huang said in the conference call Thursday. "The amount of inventory is not just us it's also the other brands. And our ability to see the other brand's inventory is just much harder. We try our best to estimate it but obviously we didn't estimate it well enough. And so the answer to your question is yes I think there's about, from our perspective, about 12 weeks of our inventory to sell-through at this point." An AMD spokesman said in an email Thursday that the company had already disclosed crypto weakness in its most recent earnings report, and that Nvidia was just "reaffirming what we have already called out." Nvidia stock has fallen 17% in the extended session and closed up 2.6% to $202.39 in regular trading. The S&P 500 index closed up 1.1% Thursday.
Investors seemed to give Nvidia an early holiday gift of low expectations. Lingering concerns about Nvidia’s exposure to the volatile cryptocurrency-mining business didn’t help either, especially after rival Advanced Micro Devices posted its own disappointing numbers last month. Nvidia reported $3.2 billion in revenue for the quarter ended Oct. 28, up 21% year over year but slightly below what analysts expected.
would miss analysts' earnings estimates for the company's latest quarterly earnings -- and that's exactly what the chip giant did on Thursday. "I think Nvidia is going to miss the quarter, alright?" Cramer said on Oct. 13 at TheStreet's Boot Camp for Investors in New York. The miss and lackluster forward guidance sent NVDA shares down some 18% in after-hours trading Thursday evening -- a move that Cramer also correctly forecast back in October.
Walmart Inc. (NYSE: WMT) became the latest major store to exceed earnings estimates Wednesday, and shares of the company climbed in pre-market trading. Walmart earnings of $1.08 per share beat third-party consensus of $1.01, while revenue of $124.9 billion came in just shy of estimates. WMT’s strength follows solid results earlier this week from Home Depot Inc. (NYSE: HD) and Macy’s Inc. (NYSE: M).
Do you own Nvidia (NASDAQ:NVDA)? If you’ve held NVDA stock throughout 2018, you’re probably a very frustrated investor. Don’t get me wrong, on a calendar-year basis, I’d rather be a Nvidia shareholder — up 3.2% year to date through November 13 — than an owner of SNAP (NYSE:SNAP), which is down 47% and fading fast — but given the free cash flow growth it’s experiencing in 2018, it would be nice to see a little more upside.
– New 12nm GPUs harness advanced “Polaris” architecture, Radeon FreeSync™ gaming display technology and feature-rich Radeon™ Software to power stunning gaming, targeting beyond.
The Standard & Poor's 500-stock index is on pace for well-below-average gains in 2018. While the 2% improvement year-to-date isn't exactly catastrophic, it is disappointing compared to most expectations for the year, and it has been littered with several shares that have simply been cleaved. But there is a silver lining: This has created a number of deeply discounted stocks to buy. History has shown us that when rates rise, stocks typically decline - at least temporarily. This was the case in 1994, 2006 and last February. The market's latest swoon, caused in part by more upward pressure on interest rates, may be painful, but it too may just be temporary. That's little comfort to owners of numerous stocks that have fallen precipitously off their recent highs. But that is good news for bargain hunters that are looking for battered stock picks to grab up off the ground. Here are 10 deeply discounted stocks to buy - companies that are anywhere from 20% to 50% off of their 52-week highs: SEE ALSO: 101 Best Dividend Stocks to Buy for 2019 and Beyond
Nvidia often reports big earnings beats, with an average upside of 33.35 percent to estimates in the last four quarters. RBC Capital Markets expects Nvidia's data center segment to drive upside that flows through the income statement, analyst Mitch Steves said in a preview note. The analyst forecast for data center revenue to exceed the Street and buy-side expectations and drive margins higher.
Investment gurus and talking heads who appear in the business media love to talk about their best stock ideas. Not many like to talk about their worst ideas. What do you think is the number one trait of an outstanding portfolio manager or research analyst? In my books, it’s humility. The ability to understand that you’re human and likely to be wrong 40%-50% of the time.