Nvidia's (NVDA) fiscal first quarter results on Wedneday offered investors the marquee earnings event of the week, while Walmart's (WMT) report on Thursday morning provided insight into the state of the consumer.
Nvidia said it anticipates revenue between $89.1 billion and $92.8 billion in the second quarter, serving as a barometer of artificial intelligence trade. Nvidia's report comes as the AI chipmaker faces increasing competition from rivals such as Cerebras (CBRS) and AMD (AMD), as well as its customers Amazon (AMZN) and Google (GOOG).
So far this earnings season, S&P 500 companies have impressed market watchers by printing profits, even amid ongoing risks from the Iran war, and the index is on track for double-digit earnings growth. Reports from semiconductor companies so far underscore that the artificial intelligence boom remains a key market driver.
Also reporting this week are a handful of retail companies, including The Home Depot (HD), TJX Companies (TJX), Lowe's Companies (LOW), Target Corporation (TGT), and Walmart, which will provide insights on the state of the US consumer.
Walmart (WMT) stock fell 2% in premarket trading after reporting first quarter results that were in line with Wall Street’s expectations but a second quarter outlook that came in a bit light.
Nvidia said it anticipates revenue between $89.1 billion and $92.8 billion in the second quarter, serving as a barometer of artificial intelligence trade. Nvidia's report comes as the AI chipmaker faces increasing competition from rivals such as Cerebras (CBRS) and AMD (AMD), as well as its customers Amazon (AMZN) and Google (GOOG).
So far this earnings season, S&P 500 companies have impressed market watchers by printing profits, even amid ongoing risks from the Iran war, and the index is on track for double-digit earnings growth. Reports from semiconductor companies so far underscore that the artificial intelligence boom remains a key market driver.
Also reporting this week are a handful of retail companies, including The Home Depot (HD), TJX Companies (TJX), Lowe's Companies (LOW), Target Corporation (TGT), and Walmart, which will provide insights on the state of the US consumer.
Walmart (WMT) stock fell 2% in premarket trading after reporting first quarter results that were in line with Wall Street’s expectations but a second quarter outlook that came in a bit light.
11 days ago
