Can NVIDIA Break Out of the Rut When It Reports Its Fiscal Q2 Earnings?
If you're an investor in NVIDIA (NASDAQ: NVDA) like I am, you're probably suffering from whiplash. After gaining more than 1,200% over three years and topping all-time highs in September of last year, the stock plummeted, and in four months had lost more than half its value.
What caused the precipitous drop? Demand for chips used to mine cryptocurrency evaporated, leaving many sales channels overstuffed with supply. Additionally, a big growth driver over the past several years -- the chips used in data centers and artificial intelligence applications -- seemed to dry up overnight. This combination of factors sent NVIDIA shareholders running for the exits.
Investors will get their next look at NVIDIA's prospects when the company reports the results for its fiscal 2020 second quarter (which ended July 28, 2019) after the market close on Thursday, Aug. 15. Let's look at the most recent quarter to see if it provides any insight into what investors can expect.
Source Fool.com
