Nvidia shares have rebounded this year though the stock is still 45% below its record high as the company faces surplus inventory.
Nvidia shares have climbed 20% this year but the stock is still 45% below its high from 2018.
Analysts expect the company to report a drop in revenue as it works through excess channel inventory.Chipmaker will issue an earnings report for the first quarter of fiscal 2020 after the market close on Thursday.Excluding certain items, 81 cents per share as expected by analysts, according to Refinitiv.Based on analysts' estimates, Nvidia's revenue for the quarter ended April 28, fell for a second consecutive period — this time down 31.
With respect to guidance, analysts surveyed by Refinitiv are looking for Nvidia to project revenue of $2.54 billion in the second quarter, which would imply a decline of nearly 19%. Nvidia's stock is up 20% since the beginning of the year, but is still about 45% off its record high reached in October.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Party City will close 45 stores because of the world's helium shortageHelium is the second-most abundant element in the galaxy, yet Party City is struggling to find enough of the gas to fill balloons.
Read more »
Balloon Pops On 45 Party City Stores Amid Helium Shortage And Deflated SalesThe company, which runs roughly 870 locations, said Thursday that the closureswill take place throughout the rest of 2019
Read more »
45 bodies found in clandestine grave sites in MexicoUp to 45 bodies have been discovered at clandestine burial sites in Mexico. The mass graves are often used by drug cartels to hide the bodies of executed rivals or kidnap victims.
Read more »
Global helium shortage puts future of Party City up in the airHelium is used in smartphones, MRIs — even spacecraft. But it is 'being used up faster than it can be produced these days,' said one analyst.
Read more »
Nissan faces long, rocky road to cut U.S. discounts, rental salesNissan Motor Co Ltd said on Tuesday it had hit 'rock bottom' with a 45...
Read more »
Nvidia is sliding as Trump escalates the trade war with ChinaChipmaker Nvidia fell 2.5% Friday after the US raised tariffs on $200 million of Chinese goods to 25% from 10%.
Read more »
Update Your Drivers Right Now If You Have An Nvidia GeForce, Quadro Or Tesla Graphics CardSevere vulnerabilities in the Windows display drivers for Nvidia's graphics cards have been patched.
Read more »