Nvidia is dropping ahead of its earnings

(Nvidia on YouTube)

Nvidia will release its second quarter earnings after the markets close on Thursday, and the stock is heading lower in preparation for the release.

Shares are down 2.97% ahead of the company's earnings. Wall Street is expecting earnings of $0.70 per share on revenue of $1.963 billion, according to data from Bloomberg.

Millennial investors are a bit more optimistic. Investors under 30 on the popular Robinhood investing app are buying the stock 11% more than they are selling.

The stock has historically seen big moves around its earnings reports. The stock has moved an average of 10.9% after earnings over the last three years. JPMorgan is bearish and suggests betting against the stock before the earnings report.

Nvidia has had a meteoric rise over the last year. Shares have risen 187.37% over the last calendar year and 63.83% in 2017. Shares are currently trading at about $167.12.

Click here to watch Nvidia's stock price in real time...

(Markets Insider)

NOW WATCH: Wells Fargo Funds equity chief: Companies were being rendered obsolete long before Amazon emerged


More Related News

5 Reasons to Add NVIDIA (NVDA) Stock to Your Portfolio Now
5 Reasons to Add NVIDIA (NVDA) Stock to Your Portfolio Now

Shares of NVIDIA Corporation NVDA have been performing well of late. For 2018, all the three estimates moved up in the last 30 days, with the Zacks Consensus Estimate rising roughly 16.9% to $3.60 per share. The Zacks Consensus Estimate for 2019 also climbed 11.5% to $3.87.

AMD Unveils PC Graphics Cards to Compete Against NVIDIA
AMD Unveils PC Graphics Cards to Compete Against NVIDIA

Advanced Micro Devices, Inc. AMD recently unveiled its new Radeon RX Vega 56 and 64 graphics cards. We believe that this launch will provide AMD an edge against NVIDIA's NVDA, GeForce GTX 1080 and 1070 cards, which were released last year.Though the reviews

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Economy

Hit "Like"
Don't miss any important news
Thanks, you don't need to show me this anymore.