The Big Second HalfĪs I wrote back in March, NVDA is a second-half story.
That’s why Nvidia stock price has rallied in recent weeks, indicating that it could continue to climb for the rest of the year. Surely there was at least a possibility that the company was overly optimistic about fiscal 2020 after its FY19 guidance proved to be excessively upbeat.īut as of right now, at least, NVDA looks like it’s back on track. Its disappointing performance last year, when the company misjudged cryptocurrency demand and accumulated excess inventory as a result, no doubt drove skepticism toward Nvidia’s outlook for this year. What’s helped Nvidia stock of late is that there’s been no reason,apparently, for the company to cut its outlook. If it can deliver on its guidance, Nvidia stock price, which still sits 40%+ below its October highs, can continue to climb. NVDA – like many of its chip peers – has promised to deliver better results in the second half of the year. And the company’s guidance for the second half of fiscal 2020 will be closely scrutinized. Nvidia’s fiscal second-quarter earnings should be reported in the middle of next month.
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