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Technology Stocks : Semi Equipment Analysis
SOXX 312.76+1.1%Dec 8 4:00 PM EST
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To: Return to Sender who wrote (88893)8/24/2022 4:40:51 PM
From: Return to Sender2 Recommendations

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NVIDIA misses by $0.01, reports revs in-line; guides Q3 revs below consensus due to a sequential decline in Gaming and Professional Visualization revs as OEMs reduce inventory levels to align with demand

Reports Q2 (Jul) earnings of $0.51 per share, excluding non-recurring items, $0.01 worse than the S&P Capital IQ Consensus of $0.52; revenues rose 3.0% year/year to $6.7 bln vs the $6.7 bln S&P Capital IQ Consensus.Data Center revs grew 61% yr/yr to $3.81 bln.Gaming revs fell 33% yr/yr to $2.04 bln.Pro Visualization revs fell 4% yr/yr to $496 mln.Automotive revs grew 45% yr/yr to $220 mln.Co issues downside guidance for Q3 (Oct), sees Q3 revs of $5.90 bln plus or minus 2%, implying $5.78-6.02 bln vs. $6.92 bln S&P Capital IQ Consensus.Co noted that Gaming and Professional Visualization revenue are expected to decline sequentially, as OEMs and channel partners reduce inventory levels to align with current levels of demand and prepare for NVIDIA's new product generation. The company expects that decline to be partially offset by sequential growth in Data Center and Automotive.Co expects Q3 non-GAAP gross margins 61.9-62.9%.The company has $11.93 billion remaining under its share repurchase authorization through December 2023. NVIDIA plans to continue share repurchases this fiscal year.

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