Nvidia (NVDA) recently posted its first quarter earnings, beating revenue expectations and seeing its share price soar. However, the general rally did not exactly follow, challenging market expectations. Yahoo Finance Reporter Josh Schafer joins Catalysts to break down what Nvidia's recent earnings could signal for the broader market moving forward. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Nicholas Jacobino
Normally, when Nvidia stock goes up, so does the market. That wasn't the case this past earnings season.
Nvidia inched up to a new high on Thursday before pulling back. Nvidia's market cap is approaching $3 trillion, a milestone that Magnificent Seven stock Microsoft has achieved. Shares of Nvidia rose to record highs after fiscal first-quarter results beat estimates yet again late last Wednesday.