Nvidia Fiscal Q1 2024 Earnings: Solid Beat, But Hedge Your Bets

Summary:

  • Nvidia Corporation just released its fiscal Q1 2024 earnings and beat expectations.
  • The release beat on revenue and on earnings per share.
  • My own opinion is that the Nvidia release was just so-so. It was certainly ahead of estimates, but growth remained negative.
  • In this article, I explain why investors going long Nvidia stock today should probably hedge the position.
  • I do not encourage anyone to short Nvidia Corporation stock, though, as there is much risk in shorting during a hype-driven rally.

Semiconductor Maker Nvidia Reports Quarterly Earnings

Justin Sullivan

Nvidia Corporation (NASDAQ:NVDA) just released its fiscal 2024 first quarter earnings. The release beat analyst expectations on revenue as well as on earnings per share (“EPS”). Going into the release, NVIDIA had reached a truly lofty valuation, trading


Analyst’s Disclosure: I/we have a beneficial long position in the shares of AAPL, GOOG either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.


Leave a Reply

Your email address will not be published. Required fields are marked *