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Between October 6 and November 4, 2026, NVIDIA (NVDA) stock fell 16.3% while the S&P 500 lost 1.6%. Anyone thinking of buying wants to know whether that drop is a chance or a warning. The answer depends less on demand, which management says is larger than NVIDIA can supply, than on what meeting that demand will cost the company. First, how strong is NVIDIA's business right now?
NVIDIA's Sales Growth Has Sped Up Four Quarters Running
The latest results show a very strong business. Revenue rose 105.9% from a year earlier to $96.2 billion in fiscal Q2 2027, the quarter that ended July 26, 2026. Growth had been 62.5% in fiscal Q3 2026, and it accelerated in each quarter after that. That 62.5% was itself up from 55.6% in fiscal Q2 2026. NVIDIA also keeps an unusual share of its sales as profit. Its operating margin over the last twelve months was 65.2%, against 18.7% for the S&P 500.
Investors pay 25.1 times NVIDIA's earnings over the last twelve months, against 22.8 for the S&P 500. A multiple only a little above the broader market reflects profits that more than doubled in a year. Net income over the last twelve months was $193 billion, against $86.6 billion a year earlier. If profits fell back, the same share price would mean a higher multiple.
#fiscal #fell
Between October 6 and November 4, 2026, NVIDIA (NVDA) stock fell 16.3% while the S&P 500 lost 1.6%. Anyone thinking of buying wants to know whether that drop is a chance or a warning. The answer depends less on demand, which management says is larger than NVIDIA can supply, than on what meeting that demand will cost the company. First, how strong is NVIDIA's business right now?
NVIDIA's Sales Growth Has Sped Up Four Quarters Running
The latest results show a very strong business. Revenue rose 105.9% from a year earlier to $96.2 billion in fiscal Q2 2027, the quarter that ended July 26, 2026. Growth had been 62.5% in fiscal Q3 2026, and it accelerated in each quarter after that. That 62.5% was itself up from 55.6% in fiscal Q2 2026. NVIDIA also keeps an unusual share of its sales as profit. Its operating margin over the last twelve months was 65.2%, against 18.7% for the S&P 500.
Investors pay 25.1 times NVIDIA's earnings over the last twelve months, against 22.8 for the S&P 500. A multiple only a little above the broader market reflects profits that more than doubled in a year. Net income over the last twelve months was $193 billion, against $86.6 billion a year earlier. If profits fell back, the same share price would mean a higher multiple.
#fiscal #fell
6 hours ago
