Nvidia, the world’s biggest company with a $3.5 trillion market capitalization, reported its third-quarter earnings on Wednesday after market close.
Lukman Otunuga, senior market analyst at online trading broker FXTM, told Entrepreneur before the earnings release that “with Nvidia’s jaw-dropping performance in 2024, expectations are sky-high.”
“The earnings could either propel the stock to fresh all-time highs or pull it below key support levels, depending on the guidance shared,” Otunuga remarked in an emailed statement.
Related: Why One Prominent Investor, ‘Britain’s Warren Buffett,’ Is Staying Away From Nvidia Stock
Nvidia’s overall revenue was $35.1 billion, above estimates of $33.2 billion, and the AI chipmaker’s data center revenue was $30.8 billion, also above
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