Shares of NVDA struggled overnight even after the chip goliath exceeded fourth-quarter expectations on the top and bottom lines. The AI bellwether also issued solid guidance, reflecting continued demand; however, the market latched onto guidance around margins declining as they roll out new products and its smallest revenue beat in two years, raising questions about whether the bull market leader could keep its momentum going. Basically, NVDA delivered outstanding earnings into a jittery market, looking through the numbers to the coming years and thinking it may be time to lock in some profit.
- We have NVDA in our International Equities Portfolio Hitlist but can see lower prices in the short term.
MM likes NVDA around $US100
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