Nvidia earnings — along with the baggage — top next week's markets

详细摘要

The results for the company's third fiscal quarter, to be reported after the market close on Nov. 17, will be terrific, at least on the surface. Nvidia's revenue should be around…

Time was that earnings reports from chip giant Nvidia provided moments of celebration for the extraordinary success of a U.S. original who led it for 33 years.

Nvidia NVDA became the world's most valuable company (until recently) because its graphical processing chips made artificial intelligence possible and has set off the massive wave of data center development around the world.

The results for the company's third fiscal quarter, to be reported after the market close on Nov. 17, will be terrific, at least on the surface. Nvidia's revenue should be around $109 billion, up nearly 50% from a year ago and up about 13% from the second quarter, according to Opening Bell Daily.

Earnings per share are expected to hit $2.48, up from $1.30 a year ago and 11.7% from the second quarter.

Would that the earnings and the analyst call that follows were so simple.

Nvidia and its investors have been going through a major soul-wrenching since Oct. 29, when The New York Times reported on CEO and co-founder Jensen Huang's involvement with Alice Huang, a woman whom intelligence officials believe was a Chinese spy. Then, reports broke that Jensen Huang had had affairs with two company employees.

Nvidia shares rose nearly 4,000% between the end of 2019 and its closing peak of $239.24 on Oct. 6, making Jensen Huang a rock star among corporate bosses — and a confidante of President Donald Trump.

Nvidia's shares are off 24% since the Oct. 29 story broke. Worse, they're off 33% since reaching a 52-week high of $243.37 on Oct. 6. When the shares closed that day (at $239.24), they were up 28.3% for the year.

And as of Nov. 13 (when the stock fell 2% to $162.85), Nvidia is down 12.7% for the year.

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