Nvidia stuns analysts with strong quarterly results, shares soar 8%


by   |  VIEW 307
Nvidia stuns analysts with strong quarterly results, shares soar 8%

On Friday, the 14th of February 2020, the Santa Clara, CA-based semiconductor industry tycoon, long-hailed for its gaming graphics processor units (GPU), had reported an astounding quarterly result for Q4, 2019, which came as a surprise to many, and forecasted a robust demand of data-centre chips alongside Artificial Intelligence.

In point of fact, Nvidia Corp.’s Friday’s (February 14th) forecast on a revived data-centre chip demands this year had been well in alignment with its arch-rival US-based multinational chipmaker Intel Corp. alongside AMD Inc.

(Advanced Micro Devices), which had also predicted a strong demand of semiconductors for their data-centre businesses this year. Besides, according to the Santa Clara, CA-based chipmaker’s Friday’s (February 14th) quarterly earnings’ report, Nvidia’s data centre business sales had witnessed a whopping upsurge of 43 per cent in Q4, 2019, to $968 million as Nasdaq-listed shares’ prices of Nvidia Corp.

opened up the day 6.58 per cent higher to $288.59 per share, while during preparation of the report, late afternoon US trading hours, shares’ prices of the GPU manufacturer were trading 7.23 per cent higher to $290.37 after spiking 8.23 per cent to an intra-day high of $293.06 a share on US morning trading hours.

Meanwhile, referring to Nvidia Corp.’s solid production line in GPU business alongside a persistent demand from data-centre businesses, a JPMorgan analysts wrote in a client note earlier on Friday (February 14th), “With solid product cycles in Gaming and sustainable strong demand from Data Center customers, we continue to see an upward bias in revenues, margins, and earnings as we move through FY21. ”