(NASDAQ: AMZN).They all note the strategic importance of AI to their businesses.Īs for the market opportunity, International Data Corporation (IDC) has recently published an eye-catching report. Just listen to the conference calls from companies like FB, Microsoft Corporation (NASDAQ: MSFT), Alphabet Inc (NASDAQ: GOOGL) and, Inc. This is likely to represent one of the next transformative waves in the technology world. No doubt, the key to NVDA stock is the mega opportunity for artificial intelligence (AI). The company launched Project Holodeck, which allows for photorealist VR experiences.(NASDAQ: ATVI), developed a PC version of Destiny 2. Nvidia, in collaboration with Bungie and Activision Blizzard, Inc.The company launched the Max-Q system, which provides for better gaming experiences on laptops.Nvidia introduced its cloud platform, which allows developers to create AI apps.Toyota Motor Corp (ADR) (NYSE: TM) agreed to purchase the Nvidia DRIVE PX platform for its next-generation autonomous vehicles.The company announced a large installation of Nvidia DGX AI supercomputers for Facebook Inc (NASDAQ: FB).Here are also some of the highlights of the quarter: Essentially, for Nvidia stock, it appears that the bulls just wanted to see more on the top line. But right now, Wall Street has been getting fairly demanding when it comes to growth companies. So why the fall in NVDA stock? It’s hard to tell. The company put out a forecast on revenues of $2.35 billion, plus or minus 2%. It was actually the eighth straight quarterly beat. By comparison, the Street consensus was looking for 70 cents a share on NVDA stock and revenues of $1.96. Regarding Q2, the company reported earnings of 92 cents a share and a 56% spike in revenues to $2.23 billion. For the year so far, the shares have logged a gain of about 54%. But there were likely concerns that NVDA stock may be due for profit-taking. True, part of this was due to the overall bearishness in the markets. Ahead of the second-quarter results for Nvidia Corporation (NASDAQ: NVDA), investors were certainly getting jittery.
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