CosmicTaco

Nvidia Beats Expectations, But Stock Dips on Slowing Growth

CosmicTaco · 2024-08-29T08:40:31.647234+05:30

- Nvidia's Q2 chip sales doubled to $30 billion, projecting $32.5 billion next quarter - Revenue forecast beat Wall Street expectations for 8th straight quarter - Stock fell 6% in after-hours trading despite strong performance - Analysts cite profit-taking and slimmer margin of expectations beat as reasons for dip - Smaller rivals developing specialized chips to challenge Nvidia's AI market dominance Source: [Semafor](https://www.semafor.com/article/08/28/2024/nvidias-revenue-forecast-beats-expectations)

Nvidia's Q2 chip sales doubled to $30 billion, projecting $32.5 billion next quarter
Revenue forecast beat Wall Street expectations for 8th straight quarter
Stock fell 6% in after-hours trading despite strong performance
Analysts cite profit-taking and slimmer margin of expectations beat as reasons for dip
Smaller rivals developing specialized chips to challenge Nvidia's AI market dominance

Source: Semafor