The lead-up to Nvidia’s Wednesday’s earnings release produced plenty of jitters on Wall Street, despite expectations of incredible growth. The Q3 results, put out after the bell, did not prompt the massive selloff some feared, with the AI chip leader’s stock dropping less than 2% in after-hours trading as management spoke to analysts on the call.
Last quarter, a modest revenue and earnings beat was not enough to prevent a massive sell-the-news event, with the stock falling 18% in the week following the call. Some figured the stock could be due for another dip this time around with institutional investors eager to engage in profit-taking at the end the year.
