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Nvidia Analysts Say Pullback Is Buying Opportunity: 'Pushing AI Envelope Too Significant To Slow Down'

Benzinga ·  Aug 29 11:39

Nvidia Corp.(NASDAQ:NVDA) outperformed expectations, with impressive second-quarter earnings that beat forecasts.

The AI computing giant credited its soaring revenue to robust data center performance, although its gross margin showed a slight contraction from the previous quarter.

Nvidia also issued an above-consensus revenue forecast for the third quarter and announced a massive $50-billion stock repurchase authorization.

Despite these strong results, Nvidia's shares fell 3.6% in after-hours trading. Here's how top Wall Street analysts are reacting to Nvidia's latest performance:

Read Also: Nvidia Slumps Nearly 5% In Premarket, Dragging Down Super Micro, Micron And Other Peers...

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