What's Next for NVDA After Its Earnings Stumble?

Here’s our new long-term outlook on the “most important stock in the world.” [Derby City Daily logo]( [Derby City Daily logo]( August 30, 2024 [What’s Next for NVDA After Its Earnings Stumble?]( By Andy Swan There’s no avoiding it: We need to talk about Nvidia (NVDA). The artificial intelligence (AI) chipmaker took center stage this week as traders and investors alike prepared for its earnings report to spur a potential $300 billion swing in shares. Going into this thing, I saw bulls touting NVDA as “the most important stock in the world right now," with fears that a negative result could send the entire market spiraling. The anticipation was palpable. Now that we’ve seen what Nvidia had to offer, it’s time to debrief… SPONSORED AD [Could “Project Greenlight” Help Fund Your Retirement?]( Two years ago, TradeSmith launched a highly secretive research project. They hired a leading algorithm expert named Jason Bodner. They set a simple goal: tracking the AI/algorithm takeover of Wall Street — and helping TradeSmith subscribers to prepare and profit. The project has produced extreme backtested gains of 7,561% on AutoZone… 8,756% on Apple... 9,761% on Intuitive Surgical… and more. Along the way, Bodner’s own father has seen gains as high as 4,000%. And it’s all thanks to an algorithm that helps him track what the Wall Street computers are buying… every trading day. Finally, you can claim access to a FREE lite version of this algorithm [here, in Jason’s full video update]( on the project. [Click here.]( Nvidia delivered a phenomenal report. Quarterly revenue surged 122% to a record $30.04 billion, coming in above analysts’ expectations of $28.7 billion. Earnings of 68 cents per share also came in higher than the consensus 64 cents per share – growing 152% from the same period last year. Data center revenue was up as much as 154% year over year. [chart]( Source: Statista The market’s reaction was… not so phenomenal. After opening the week at $129.57, NVDA shares tumbled ~10% to a low of $116.71 on Thursday as the market digested the news. We were expecting a move in the opposite direction. And I’ve seen a lot of worried investors having second thoughts about this company’s growth prospects. So, let’s talk about it right here, right now. To address those concerns head on – and show you where NVDA is headed next – Landon and I just filmed a special video edition of Derby City Daily. [Watch it here]( (or click on the image below) to find out where Nvidia goes from here in less than 10 minutes: [Watch Now]( Until next time, [Andy Swan's signature] [Andy Swan's signature] Andy Swan Founder, LikeFolio P.S. Our colleague Jason Bodner has a knack for picking AI stocks (the last one outperformed NVDA by 460%). And he recently filled us in on an [off-the-radar stock]( that he believes is set to power the whole world economy with AI. It’s just 1% the size of Nvidia right now – but if he’s right, this name could crush all other AI stocks starting in September. We figured you might be interested, so [here’s the link where you can learn more](. Discover More Free Insights from Derby City Daily Here's what you may have missed from Derby City Daily this week… ✓ [800% in Two Years: This Apparel Stock Is Beating NVDA’s Gains]( ✓ [From AI to FOMO: Apple Is Riding 3 Enormous Tailwinds into September]( ✓ [DoorDash Is Stepping Up to Save Last-Mile Delivery]( © 2024 TradeSmith, LLC t/a Derby City Insights. All Rights Reserved. 1125 N. Charles Street, Baltimore, MD 21201 To unsubscribe or change your email preferences, please [click here](. [Terms of Use]( | [Privacy Policy](