nvidia stock

The technology industry is currently going through a challenging period. The financial results of companies in this sector are noticeably worse than they were a year ago. However, NVIDIA seems to be relatively resilient to market turbulence. The company has released its financial results for the first quarter of fiscal year 2024.

 

Although the overall results are worse than they were 12 months ago, there is a visible quarterly growth. The question remains whether this trend will continue in the near future. The first quarter of fiscal year 2024 ended on April 30th.

 

According to the published data, NVIDIA recorded revenues of $7.19 billion during this period. This represents a 13% decrease compared to the same period last year and a 19% increase compared to the previous quarter. At the same time, the company achieved a GAAP net income of $2.04 billion. For the Non-GAAP comparison, it amounted to $2.71 billion.

 

These figures are interesting when compared to previous financ

Equities Of Europe Are Under Pressure

Speaking Of nVidia Stock, S&P500 (SPX), The Conflict In Eastern Europe And GBP State

Swissquote Bank Swissquote Bank 17.02.2022 10:42
Good mood didn’t last long as the US didn’t let the tensions de-escalate insisting that Russia is certainly not pulling back its troops but is rather increasing its presence at the Ukrainian border. The US warning hit the investor appetite at yesterday’s session and reversed the earlier week gains in stock indices. As a result, the safe have flows boosted gold, again, as crude oil remained steady around the $92 per barrel. US equities were soft but the S&P500 erased a part of losses at a late-session rally after the release of the Federal Reserve (Fed) minutes, the pricing on the fed funds front flipped to give more chance for a 25bp hike in March, instead of a 50-bp hike. In the FX markets, the US dollar remains strong, while the pound-dollar is eking out gains above the 1.35 mark as the high inflation in the UK keeps the Bank of England (BoE) hawks in charge of the market. Bitcoin is pointed as a risk to the global financial stability, as Fidelity launches Europe's cheapest Bitcoin ETP. In the individual stocks, Nvidia’s strong results didn’t boost the share price in the afterhours trading, Virgin Galactic couldn’t extend Tuesday’s days on worries that they may have some execution problems sending people to the moon and Roblox tanked 26% on softer results. Watch the full episode to find out more! 0:00 Intro 0:28 Ukraine update 1:22 Gold up, but gains vulnerable 1:54 US equities fine with the hawkish Fed minutes 3:38 Sterling gains on soaring inflation expectations 4:54 Cryptocurrencies: a risk to financial stability? 6:04 Why strong results don't boost appetite in Nvidia? 7:35 Why the space travel doesn't seduce investors? 8:34 And why Roblox is not in a good place to reverse losses? Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
US dollar pares gains in Asia | Oanda

Oh No Tech Stocks! Nvidia (NVDA) Stock Suffers Again As Netflix (NFLX) Hits Tech

FXStreet News FXStreet News 25.04.2022 16:44
NVDA stock stuck to the scrips and lost another 3% on Friday. NVDA stock is down 34% so far in 2022. NVDA stock is set for earnings next month but peer AMD is out next week. It's fair to say 2022 has not been a good one for investors in semi conductor stocks. After a surging year in 2021 investors would have been hoping the strong momentum was set to continue into 2022. With Wall Street largely backing up that thesis with a string of bullish price targets investors have been left holding some of the worst-performing stocks of the year so far. Added to the mix of course have been fresh headwinds in the shape of the Ukraine war as well as old problems around covid lockdown with factories in Shanghai once again feeling the pinch as covid struck the city hard. NVDA stock news Of course the main problem for the tech sector and one NVDA cannot avoid has been the speed with which bond markets have sold off and so pushed yields higher. Tech stocks are usually more sensitive to rising yields, even those with strong balance sheets and positive cash flows. A case of being guilty by association. This theme picked up speed last week and Fed officials stepped up the hawkish narrative ahead of their imposed blackout this week before May's interest rate decision. So at least that's one relief. Other problems will not be so easily solved with China in mounting states of distress over lockdown and factory closures, none of which will help NVDA or the semiconductor sector. NVDA again is guilty by association from the FaceBook and Netflix debacle. Netflix dropped a massive 36% after losing subscribers and now all the focus is on Facebook after something similar last time around. NVDA cannot avoid these tech spillover effects and the stock made a new low for the year on Friday breaking the psychological $200 level. Bank of America recently reiterates its ambitious $375 price target and said the sell-off may be overdone. However, it appears Mr. Market does not agree. Most Wall Street analysts fail to take a look at the broader market sentiment when issuing price targets and right now that is what is dominating the market. NVDA stock forecast Breaking $206 will likely set the tone for further losses on Monday and into the remainder of the week. However, this week is tech week earnings so these must be watched as that will drive investor sentiment to the tech sector for the next quarter. Apple, Google, Qualcomm, Microsoft, Facebook and Amazon are up this week on the earnings front so really this week is a make or break for the tech sector. The Fed hawks are in a blackout so some good earnings could help stem recent losses for the sector. There was the possibility of the strong downtrend ending once NVDA stock set a fresh high on Mach 29. But this needed the lows at $206 to hold which has now broken. All that has meant the March 29 high was another lower high when compared to all-time highs and now breaking $206 has put in place a lower low. $206 now becomes resistance. $178.66 is the next support, the low from July and below a move to sub $140 cannot be ruled out as the point of control lies there. Volume is now light until we get toward $140. These levels are targeted so long as NVDA stock sits below $206. Breaking back above $206 puts us on watch for a move to the 200-day moving average at $244. NVDA stock chart, daily
Bank of England's Rate Dilemma: A September Hike and the Uncertain Path Ahead

Wall Street tumbled

Conotoxia Comments Conotoxia Comments 06.05.2022 10:53
Stock markets saw strong declines the day after the Fed decision as investors may have concluded that the Fed will nonetheless fight inflation in a determined manner with the so-called wealth effect at its disposal.   Yesterday's sell-off on Wall Street could have been very impressive, as the indices fell at a rate we haven't seen in two years, mainly due to technology companies. The Dow index lost more than 1,000 points and the Nasdaq Composite fell nearly 5 percent. - Both indexes posted their worst one-day declines since 2020. The S&P 500 Index also fell 3.56 percent, its second-worst day this year. Thursday's session erased Wednesday's strong gains after the Federal Reserve meeting. Technology stocks suffered the most: Tesla (-8.3 percent), Apple (-5.6 percent), Amazon (-7.6 percent), AMD (-5.6 percent) and Microsoft (-4.4 percent), where the outlook for earnings momentum may not be the best for the next few quarters.   The sharp decline in stocks and entire indexes may also be part of the fight against inflation through the so-called wealth effect. Americans, more than half of whom may have exposure to the stock market, may consume less as their savings melt down in the stock market. Thus, this can have a deflationary effect by reducing demand pressures, which appears to be an additional mechanism for fighting inflation. Previously, with the wealth effect, central banks may want to drive current consumption, because it is different to spend income when the value of savings rises rapidly and when it falls rapidly, even though current income is not affected.   Returning to the markets, one also can't help but notice that it wasn't just stocks that were cheapening. Bond and cryptocurrency prices also fell. The yield on 10-year US bonds beat the 3 percent level, and BTC fell below $36,000 at one point. It seems that once again capital was returning to the USD, as its index approached the level of 104 points, the highest since 2002. Nervousness in the markets, therefore, seems to persist, and this will be compounded by today's publication of data from the US labor market at 14:30. It seems that the times when bad data was good for the markets, as they waited for the Fed to help, are over. Now, bad data can be perceived negatively, and good data positively. The consensus is for a reading of 385k. What will be the NFP? That is what we will find out in a few hours and could be the event of the day.   Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
(NVDA) Nvidia Stock Price Plunged! Meme Stocks' Performance Seems To Be Surprisingly Good

(NVDA) Nvidia Stock Price Plunged! Meme Stocks' Performance Seems To Be Surprisingly Good

Swissquote Bank Swissquote Bank 09.08.2022 12:23
Nvidia shares dived 6.30% yesterday on news that the company missed its revenue projection by $1.4 billion due to slower demand for PCs and gaming. Nvidia pulled other US chipmakers into the negative along with it, and brought the question of whether the chip rally, which was triggered by a $52 billion government help is over. US Dollar Index Amid NFP The dollar index gave back gains following the blowout NFP figures printed on Friday. Investors are confident that inflation in the US may have peaked last month, as the New York Fed's Survey of Consumer Expectations showed steep drops in inflation expectations in July. Forex - EUR/USD and more In the FX, the EURUSD is steady around the 1.02 level, waiting for the dollar to soften on ‘good news’ to make a further attempt toward the 1.0350 mark, where stands the 50-DMA. Given that the European Central Bank (ECB) played its biggest cards at last meeting, there is not much upside potential from the ECB standpoint. On the dollar-yen front, traders now call the end of a particularly winning long USDJPY trade this year. View on Flipboard!   Watch the full episode to find out more! 0:00 Intro 0:23 Nvidia plunges on slowing earnings 1:44 The revenge of energy stocks 3:10 Crude oil: where to? 4:59 Meme stocks rally, but gains are fragile 6:06 US inflation expectations ease before CPI print 7:52 FX update: EURUSD steady, USDJPY under pressure For economists, inflation expectations are more important than the actual data. Find out why! ▶️ Discover today's market highlights on our #MarketTalk with @IpekOzkardeskay: https://t.co/XnXQYVPS3H pic.twitter.com/v4SJEssR8z — Swissquote (@Swissquote) August 9, 2022 Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Nvidia #earnings #drop #chip #energy #meme #stocks #BBBY #AMC #XOM #Chevron #crude #oil #US #inflation #expectations #EUR #USD #JPY #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
European Markets Face Headwinds Amid Rising Yields and Inflation Concerns

Nvidia's earnings beat expectations. Did you know that crypto mining account for ca. 1% of company's revenue?

Conotoxia Comments Conotoxia Comments 17.11.2022 16:12
On Wednesday, we were able to learn about the Q3 financial report of the software giant Nvidia Corp. (Nvidia), a technology company that develops software and processors, among other things. Although the recent environment seemed unfavourable, the financial results may have positively surprised analysts. Is Nvidia's performance dependent on cryptocurrencies? Along with Intel and AMD, Nvidia is one of the top three suppliers of processors and graphics cards. It seems that one of its revenue drivers is the sale of chips, used especially in graphics cards. It could be thought that, due to their computing power, they were mainly bought by cryptocurrency 'miners' in recent years. Following recent problems and the bankruptcy of one of the largest cryptocurrency exchanges, bitcoin (BTC/USD) has seen a decline of more than 76% since its peaks. Read next: Many sued in FTX scandal, Elon Musk to reduce his time at Twitter, EU stocks edged higher on Thursday| FXMAG.COM However, Nvidia states: "We believe the recent transition in verifying Ethereum cryptocurrency transactions from proof-of-work to proof-of-stake has reduced the utility of GPUs for cryptocurrency mining." This category, according to the report, makes up around 1.2% of revenue, illustrating how small this segment is for the company. Source: Conotoxia MT5, BTCUSD, Weekly The company's Q3 revenue was US$5.93 billion (US$5.77 billion was expected), down y-o-y. by 22%. Cloud computing power sales service accounted for as much as 65% of the company's revenue and sales. This increased by 29% year-on-year. In second place was revenue from the gaming sector, accounting for 26% of revenue, but recording a decline of 51%, which appears to be the aftermath of the pandemic. With this data, we could say that Nvidia's performance does not appear to be linked to risks in the cryptocurrency market. An additional argument in favour of the independence of these assets is their correlation, which stands at 0.55 since the beginning of the year, which may indicate their low level of dependence. Earnings per share EPS for the period came in at US$0.58, below analysts' expectations (US$0.69 was expected). The company's gross margin was also negative, falling to 53.6% (previously 65.2%), which the company attributed to increased chip inventory due to falling demand in China. Maribel Lopez, principal analyst at Lopez Maribel comments: “...there is a long tail of AI workloads which will create a return to growth, but it may take several quarters ”. “The issue for Nvidia is the short term, the next several quarters will be rough. Investors will have to take a longer view, similar to what’s required with Intel." - Lopez said. What does Wall Street think of Nvidia shares? Source: Conotoxia MT5, NVDIA, Daily According to Market Screener, the company has 40 recommendations, with 'buy' opinions prevailing. The average target price is set at USD 200.93, 26% higher than the last closing price. The lowest target price is at USD 320 and the highest is USD 110. Author: Grzegorz Dróżdż, a Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com
The Current War Between China And The United States Over Semiconductor Chips Is Gaining Momentum

Nvidia expects its earnings will beat Q3 results in the next quarter

FXStreet News FXStreet News 17.11.2022 16:02
NVDA stock gains more than 2% after hours following Q3 earnings. Nvidia missed non-GAAP EPS consensus by 17%. Management expects Q4 revenue to be higher than Q3. Nvidia (NVDA) stock gained 2.2% to $162.60 late Wednesday despite the fact that the premier chip designer in the world missed the Wall Street non-GAAP line of $0.70 a share. Adjusted earnings per share (EPS) actually came in more than 17% below consensus at $0.52. "Why the advance for Nvidia price then?" you ask. It pretty much comes down to revenues. The market was expecting a third poor quarter in a row on the revenue front, but Nvidia emerged in Q3 with $5.93 billion. This was about $115 million ahead of the Street's average forecast. Nvidia earnings news The real silver lining, if you want to call it that, is that management pushed revenue expectations for Q4 higher than the present. Nvidia sales have been in a freefall for most of 2022 as many crypto miners have gone belly-up in the face of falling crypto prices and stopped buying their usual allotment of GPUs. Management, however, guided for $6 billion in Q4 sales, adding that the range was just 2% above or below that figure. The top line of that range at $6.12 billion was still about $20 million below the earlier analyst consensus, but the market has been optimistic this week. Much of that optimism is spillover from inflation data coming in soft and the US Midterm Elections having passed, but the market seems to believe that the worst is over for the semiconductor giant. Though Nvidia's share price remains down 47% year to date, NVDA stock has charged forward more than 35% in the past month. This does seem somewhat surprising, seeing as revenue is down about 17% YoY and EPS in Q3 was down by more than half over that same time period. Management's guidance for gross margin, however, also turned heads. Despite finishing the third quarter with a 56.1% adjusted gross margin, the executive said it would hit 66% in the fourth quarter. This signals to shareholders that notwithstanding the higher inventory levels reducing demand this year, Nvidia is not even close to being a price taker. While the gaming segment continues to deteriorate, down 51% YoY, data center revenue continued to outperform. Sales from that segment rose 31% YoY despite softness in China stemming from covid lockdowns. A big reason for its fall in gross margin during the quarter was a $700+ million charge caused by this lower demand from Chinese data centers. Read next: Many sued in FTX scandal, Elon Musk to reduce his time at Twitter, EU stocks edged higher on Thursday| FXMAG.COM Executives said the inability to sell its A100 and H100 data center processors to Chinese customers due to ongoing US sanctions also hurt results, but that Chinese customers instead chose to bulk up on other products. "We’re seeing surging demand in some very important sectors of AIs and important breakthroughs in AI," said CEO Jensen Huang, while noting that demand for general-purpose computing chips had slowed. "One is called deep recommender systems, which is quite essential now to the best content or item or product to recommend to somebody who’s using a device that is like a cell phone or interacting with a computer just using voice." Nvidia stock forecast Nvidia stock is beginning to trade lower in Thursday's premarket, however, alongside the broad market. Shares are off 1.4% in line with the Nasdaq Composite, so this does not seem to be a result of Nvidia's earnings. The major event has been St. Louis Federal Reserve President James Bullard saying that a "doveish" Fed policy from this point would still require a full one percentage point hike to the fed funds rate. If the market does seek support, NVDA stock can find it at the 9-day moving average near $153. A more drastic sell-off could force it down to the 21-day average at $140. For bulls to come back into this name, Nvidia stock needs to break above the Tuesday high at $170. The Moving Average Convergence Divergence (MACD) is still in a bullish crossover stance, but it has begun to move sideways. NVDA 1-day chart
Apple earnings: Company did not give an outlook for the next quarter, which could prove even more challenging due to parts shortages and competition

Alphabet (GOOGL) rose 5.34% as the parent company of Google announced plans to cut about 12,000 jobs or over 6% of its global workforce

Intertrader Market News Intertrader Market News 23.01.2023 13:15
DAILY MARKET NEWSLETTER January 23, 2023               Pre-Market Session News Sentiment Technical Views           EUR/USD   Euro Stoxx 50 (Eurex)   Brent (ICE)                 Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.                     Price Movement Analyst Views Target Pivot   Dax (Eurex) 15,161.00 +80.00 (+0.53%) Read the analysis 15,095.00 15,220.00     FTSE 100 (ICE Europe) 0.00 0.00 (0.00%) Read the analysis 7,746.00 7,798.00     S&P 500 (CME) 3,983.75 -4.75 (-0.12%) Read the analysis 4,005.00 3,950.00     Nasdaq 100 (CME) 11,661.25 -15.75 (-0.13%) Read the analysis 11,720.00 11,580.00     Dow Jones (CME) 33,446.00 -28.00 (-0.08%) Read the analysis 33,620.00 33,280.00     Crude Oil (WTI) 81.33 -0.31 (-0.38%) Read the analysis 81.90 80.60     Gold 1,930.95 +4.87 (+0.25%) Read the analysis 1,936.00 1,920.00                     MARKET WRAP           Market Wrap: Stocks, Bonds, CommoditiesOn Friday, U.S. stocks closed higher after declining for most of the week. The Dow Jones Industrial Average climbed 330 points (+1.00%) to 33,375, the S&P 500 rose 73 points (+1.89%) to 3,972, and the Nasdaq 100 jumped 323 points (+2.86%) to 11,619.The U.S. 10-year Treasury yield rebounded a further 8.9 basis points to 3.481%.Media (+4.61%), automobiles (+3.78%), and semiconductors (+3.51%) sectors gained the most.NetFlix (NFLX) jumped 8.46% after the video-streaming company signed up more subscribers than expected in the fourth quarter. Also, company co-founder Reed Hastings will step down as chief executive.Alphabet (GOOGL) rose 5.34% as the parent company of Google announced plans to cut about 12,000 jobs or over 6% of its global workforce. Meanwhile, Tesla (TSLA) gained 4.91%, Nvidia (NVDA) jumped 6.41%, Amazon.com (AMZN) added 3.81%, Microsoft (MSFT) advanced 3.57%, and Apple (AAPL) was up 1.92%.Regarding U.S. economic data, the number of existing-home sales dropped at an annualized rate of 1.5% on month in December (vs -2.0% expected).European stocks also closed higher. The DAX 40 rose 0.76%, the CAC 40 gained 0.63%, and the FTSE 100 was up 0.30%.U.S. WTI crude futures increased $1.20 to $81.84 a barrel, as investors turned optimistic on higher oil demand coming from China.Gold price retreated $4 to $1,927 an ounce.Market Wrap: ForexThe U.S. dollar index dipped to 101.99.EUR/USD added 24 pips to 1.0857. Germany's data showed that producer prices grew 21.8% on year in December (vs +19.9% expected, +28.2% in November).USD/JPY surged 115 pips (+0.90%) to 129.58. Bank of Japan Governor Haruhiko Kuroda reiterated that the central bank will maintain its "extremely accommodative" monetary policy. GBP/USD edged up 8 pips to 1.2399. U.K. data showed that retail sales declined 1.0% on month in December (vs +0.3% expected).AUD/USD rose 63 pips to 0.6973.USD/CHF gained 42 pips to 0.9203, while USD/CAD fell 89 pips to 1.3377.Over the weekend, Bitcoin continued its recent rally striking $23,000, the highest level since August.Morning TradingIn Asian trading hours, EUR/USD advanced to 1.0895 and GBP/USD rose to 1.2425.Meanwhile, USD/JPY retreated to 129.15.Gold bounced to $1,933.Bitcoin held gains at $22,765.Expected TodayThe eurozone's January consumer confidence index is estimated at -17.0.In the U.S., leading index is expected to drop 0.7% on month in December.           UK MARKET NEWS           Endeavour Mining, a mining company, announced that 4Q gold production grew 4% on quarter to 355,000 ounces. Full-year output was 3% lower than the prior year at 1.4 million ounces, while all-in sustaining cost increased 5% to 928 dollars per ounce. The company expects 2023 production of 1.325 - 1.425 million ounces and all-in sustaining cost of 940 - 995 dollars per ounce.Retail, auto & parts and chemicals shares fell most in London on Thursday.From a relative strength vs FTSE 100 point of view, BAE Systems (+1.16% to 853.2p) crossed above its 50-day moving average.From a technical point of view, Ashtead Group (+1.32% to 4995p) crossed above its 50-day moving average.From a technical point of view, AstraZeneca (-1.93% to 11200p) crossed under its 50-day moving average.           ECONOMIC CALENDAR           Time Event Forecast Importance   10:00 CB Leading Index MoM (Dec) -0.7% LOW     11:30 3-Month Bill Auction   LOW     11:30 6-Month Bill Auction   LOW                                     NEWS SENTIMENT           Bayer AG BAYN : XETRA 56.39 EUR -1.83% In the last 5 days         NEWS SENTIMENT (24H) Very Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Tesco PLC TSCO : LSE 247.90 GBp +0.16% In the last 5 days         NEWS SENTIMENT (24H) Very Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   Rio Tinto PLC RIO : LSE 6,213.00 GBp +1.92% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   National Grid PLC NG. : LSE 1,035.00 GBp +1.27% In the last 5 days         NEWS SENTIMENT (24H) Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   AstraZeneca PLC AZN : LSE 11,200.00 GBp -4.08% In the last 5 days         NEWS SENTIMENT (24H) Very Positive       TECHNICAL SCORE Short-Term Medium-Term Long-Term                                   BP PLC BP. : LSE 475.85 GBp -1.07% In the last 5 days         NEWS SENTIMENT (24H) Very Negative       TECHNICAL SCORE Short-Term Medium-Term Long-Term                           TECHNICAL VIEWS           EUR/USD Intraday: the bias remains bullish.   Pivot: 1.0855   Our preference: Long positions above 1.0855 with targets at 1.0945 & 1.0960 in extension.   Alternative scenario: Below 1.0855 look for further downside with 1.0835 & 1.0820 as targets.   Comment: The RSI shows upside momentum.                     Euro Stoxx 50 (Eurex)‎ (H3)‎ Intraday: choppy.   Pivot: 4167.00   Our preference: Short positions below 4167.00 with targets at 4124.00 & 4104.00 in extension.   Alternative scenario: Above 4167.00 look for further upside with 4184.00 & 4205.00 as targets.   Comment: As long as 4167.00 is resistance, look for choppy price action with a bearish bias.                     Brent (ICE)‎ (H3)‎ Intraday: towards 88.90.   Pivot: 86.20   Our preference: Long positions above 86.20 with targets at 87.80 & 88.90 in extension.   Alternative scenario: Below 86.20 look for further downside with 85.50 & 84.60 as targets.   Comment: The RSI advocates for further advance.        
Euro Dollar Bears Increase Options Exposure as EUR/USD Triangulates for Breakout

NVIDIA's Mind-Blowing Q1 Earnings: Surpasses Expectations and Skyrockets in After-Hours Trading!

FXMAG Team FXMAG Team 26.05.2023 09:46
The technology industry is currently going through a challenging period. The financial results of companies in this sector are noticeably worse than they were a year ago. However, NVIDIA seems to be relatively resilient to market turbulence. The company has released its financial results for the first quarter of fiscal year 2024.   Although the overall results are worse than they were 12 months ago, there is a visible quarterly growth. The question remains whether this trend will continue in the near future. The first quarter of fiscal year 2024 ended on April 30th.   According to the published data, NVIDIA recorded revenues of $7.19 billion during this period. This represents a 13% decrease compared to the same period last year and a 19% increase compared to the previous quarter. At the same time, the company achieved a GAAP net income of $2.04 billion. For the Non-GAAP comparison, it amounted to $2.71 billion.   These figures are interesting when compared to previous financial results. In the case of GAAP, there was a 26% increase in profit compared to the same period last year, while for Non-GAAP, it decreased by 21%. Both cases showed growth compared to the previous quarter, with increases of 44% and 25% respectively. We would like to hear the commentary on this matter from HFM Market Analyst, Marco Turatti.     Could you please comment on Nvidia earnings after they're released? Nvidia presented extraordinary results for Q1 2023, which far exceeded analysts' expectations on Wall Street, as well as a very strong outlook, and soared +25% in after-hours trading on the wings of its dominant position in GPU chips for AI. It added $220 billion in market cap in 1 hour, becoming the sixth largest company in the US500 and surpassing the value of all its US competitors combined (AMD, Intel, Micron).   Adjusted EPS was $1.09 versus 92 cents expected; Revenues was $7.19 billion, versus $6.52 billion expected. Sales of $11B exceeded the $7.5B forecast by 50%, with $4.28B coming from the Data Center business. Performance was driven by demand for its GPU chips from cloud vendors as well as from companies developing big LLM models like OpenAI (and many others).   Nvidia chief Jensen Huang said that the development of AI applications puts Nvidia in a prime position for a 10 year cycle at least. But he also warned of the risks of huge damage that could ensue from the US tensions with China, a market that ''cannot be replaced'' and will grow four times (up to 178 B Yuan) over the next four years, including for projects related to smart cities and edge computing.   One has to look between the lines to find some blemishes in the earnings reported: the gaming division reported a 38% drop in revenue while the automotive division grew 114% yoy but remains small at $300 million. One of the ''biggest problems'' right now are the financial ratios: NVIDIA has a Price to Sales of 29.4x, the most expensive of any US stock in front of MSFT at 11.5x (US500 average is 2.4) and a Price to Earnings Ratios of 182, second only to AMZN and 10 times higher than the US500 average (24). With an expected opening on 26/05 at $380, NVDIA is at an all-time high and looks rather expensive despite its excellent prospects.           Marco Turatti – HFM Market Analyst  After working for about 10 years in institutional trading rooms across Europe, Marco entered the FX sector as an analyst leveraging his knowledge of the financial markets. With a degree in Economics, from 2007 onwards he has constantly -and sometimes obsessively- studied and improved his trading and risk management techniques through active and direct investments. He is a firm believer in the need to know completely the securities one is dealing with, to always have a plan B ready, to build a macro view from which to derive the micro plan of action and -above all- to be strict with the rules one has set oneself, without taking anything personally.

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