Nvidia Stock Sank in After-Hours Trading Today -- Here's Why the Stock Could Be a Solid Buy
Shares of Nvidia (NASDAQ: NVDA) fell in after-hours trading on Thursday, as investors responded to the chipmaker's lower-than-expected guidance. As of 6:40 p.m. ET, Nvidia's stock price was down more than 6% after rising 5% earlier in the day.
Nvidia's revenue soared 46% year over year to $8.29 billion in its fiscal 2023 third quarter, which ended on May 1. This impressive growth was fueled by an 83% surge in data center sales, to $3.75 billion, and a 31% increase in gaming revenue, to $3.62 billion.
"We delivered record results in Data Center and Gaming against the backdrop of a challenging macro environment," founder and CEO Jensen Huang said in a press release. "The effectiveness of deep learning to automate intelligence is driving companies across industries to adopt Nvidia for AI computing."
Source Fool.com
