What's Going On With NVIDIA (NVDA) Stock Today - NVIDIA (NASDAQ:NVDA)

NVIDIA Corp NVDA shares are trading lower in sympathy with Advanced Micro Devices, Inc AMD, whose weak outlook sparked a selloff.
AMD's first-quarter revenue came in at $5.35 billion, down 9% year-on-year, beating the consensus of $5.3 billion.
The adjusted EPS of $0.60, down 47% Y/Y, beat the consensus of $0.56.
AMD guided second-quarter revenue to $5.3 billion, plus or minus $300 million, which trailed the consensus estimate of $5.49 billion.
Nvidia shares gained close to 95% YTD, basking in the glory of the commercialization of ChatGPT, a higher focus on AI workloads from the cloud and enterprises, and new gaming (RTX40) and data center (Hopper) product ramps. AMD shares have gained 31% YTD.
Analysts projected sustained outsized data center growth driven by increasing industry adoption of AI workloads, enhanced by generative AI workloads (i.e., ChatGPT, Bard).
AI opportunities made Nvidia the top pick of analysts.
Price Action: NVDA shares traded lower by 1.02% at $279.26 on the last check Wednesday.

What's Going On With NVIDIA Stock Today