NVDA
NVIDIA
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Super Micro Computer
56.070 We expect that our sales to these destinations will decline significantly in the fourth quarter of fiscal 2024, though we believe the decline will be more than offset by strong growth in other regions," Nvidia's finance chief, Colette Kress, said in a letter to shareholders.
We are monitoring the impact of the geopolitical conflict in and around Israel on our operations, including the health and safety of our approximately 3,400 employees in the region who primarily support the research and development, operations, and sales and marketing of our networking products," Nvidia said. "Our operating expenses in the third quarter of fiscal 2024 include expenses for financial support to impacted employees and charitable activity."
GPU demand continues to outpace supply as Gen AI adoption broadens across industry verticals," Raymond James' Srini Pajjuri and Jacob Silverman wrote in a note Monday to clients, with a "strong buy" recommendation on Nvidia stock. "We are not overly concerned about competition and expect NVDA to maintain >85% share in Gen AI accelerators even in 2024."
Setting aside the outsized expectations, Nvidia's results continue to be astounding," Wolfe Research analyst Chris Caso said in a note to clients, "the numbers are particularly impressive given that US restrictions on China are hurting sales," he said. Moreover, Nvidia announced new chips designed for China on Tuesday that could help that market rebound, he noted.
The fourth-quarter drop in China, though not concerning for the near term, will likely be an area of investor focus," Bloomberg Intelligence analysts Kunjan Sobhani and Oscar Hernandez Tejada said in a note.
DAVIDJ94 : Accurate but not what I want to see. Lol.