Saturday, August 12, 2017

NVIDIA Stock Plunges After Traders Didn't Like Earnings Report

Can somebody remind me why the market is controlled by professional guessers?

The chipmaker reported better-than-expected fiscal second-quarter earnings and guidance, but its data center segment sales, where its cards are used for machine learning and artificial intelligence applications, came in at $416 million versus the $423 million Wall Street consensus FactSet estimate. Its shares opened down 5 percent on Friday, after falling as much as 7 percent in after-hours trading following the report.