Top Analyst Says Nvidia Poised For Strong Q2 Results: 'There's Still A Ton Of Spending On The AI Chips'

Quick Summary:

According to predictions by Wedbush Securities, Nvidia Corp.(NASDAQ:NVDA) is poised to report another strong quarter of earnings, propelled by the current surge in AI spending.

Wedbush’s SVP of equity research, Matt Bryson, attributed the recent drop in Nvidia shares to worries about diminishing demand for the company’s AI chips and potential problems with Blackwell, its upcoming GPU.

What Happened: In a CNBC interview on Monday, Wedbush Securities expressed continued confidence in the Jensen Huang-led chip giant ahead of its second-quarter earnings announcement on Aug.28.

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Category: Technology

Markets: United States

Topics: Tech Jensen Huang Stories That Matter NVDA General Pooja Rajkumari Analyst Color Markets AI Chips Wedbush Benzinga News US67066G1040

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Article Type: News Report

Published On: 2024-08-20 @ 10:57:22 (11 hours ago)

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News Source URL: benzinga.com

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