Bullish for Chip Stocks🐂🐂🐂
Yesterday (16/11) $NVIDIA Corp(NVDA)$
(1) EPS: $0.58, adjusted, versus $0.69 expected.
(2) Revenue: $5.93 billion, versus $5.77 billion expected.
(3) NVDA said it expected about $6 billion in sales in the Q4, lower than Refinitiv consensus estimates of $6.09 billion.
(4) NVDA’s gaming division reported $1.57 billion in sales, down 51% year-over-year. NVDA said it was selling less to retailers because they have more inventory than current demand.
(5) NVDA’s data center business, which reported $3.83 billion in sales, is up 31% year-over-year. This growth is due to sales to 🇺🇸 cloud service providers & consumer internet companies.
🤔💭 My Thoughts:
(1) Chips stocks are badly beaten down🥊🥊🥊 & it appears they might have passed the bottom since Buffett through Berkshire bought about 5 billion of $Taiwan Semiconductor Manufacturing(TSM)$
(2) TSM, $AMD(AMD)$
(3) As of 30 Oct 30 2022, NVDA had $8.28 billion remaining under its share repurchase authorization through December 2023, which means that NVDA’s share price will continue to go up.
(4) I already hold TSM & will be looking to buy more shares💪💪💪 but will also look for opportunities to buy as I expect TSM, AMD, & NVDA to be the top 3 chip stocks🥇🥈🥉to recover first due to popularity with investors.
At the time of writing in premarket hours, NVDA, TSM & AMD are positive now.
As usual-🤔💭 Consider POV & Actions of investors + 👩🏻💻👨🏻💻 Research + 🗑FOMO & Greed = Investing Wisely 🤓🤗 + Accumulating Wealth 💵💰
Source Website: CNBC, Benzinga & Yahoo Finance.
Modify on 2022-11-18 05:45
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