Nvidia has been the talk of the town of Wall Street for the better part of latter half of 2023 and the better part of 2024. However, its fortune, like many other proponents of the AI wave has taken a bit of hit in the recent past, the unfathomable progress appears to have stalled at least momentarily.
Nvidia Gears Up For Results
As expectations rise from the chip-making company and the industry at large, there is also a wind of caution, and that is in the realm of business. Nvidia shares that were once booming, almost without a stop, have slowed down in the recent past, taking the tech-heavy Nasdaq with it.
The Jensen Huang-led entity is now looking forward to an earnings season, as the company is expected to declare its earnings for the previously concluded quarter.
These results, according to reports, will be declared on Wednesday, or early morning in India.
Company Shares Rise
The shares of the company jumped tangibly on Tuesday, August 27. The company shares grew steadily throughout the intraday trading session before closing with a gain of 1.46 per cent or USD 1.84, closing for business at USD 128.30.
The Nasdaq Composite, which according to some has been swayed by Nvidia's performance in the past, was also placated in the previous day's trading session as well.
The marquee index, which is known for its tech-heavy nature, also made marginal gains before shuttering for the day. Nasdaq gained 0.16 per cent or USD 29.05, climbing to 17,754.82.
It is to be noted that, amid rising expectations of an imminent rate cut by the Jerome Powell-led Federal Reserve, other major indices also ended in green, with marginal gains.
The slowdown in fortunes of companies like Nvidia, especially at the Wall Street, has led to some anxiety in the markets, with some of them, suspecting it to be another perilous market bubble.
