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How Nvidia earnings are impacting the chip market

Nvidia (NVDA) has issued its highly anticipated earnings report, surpassing expectations for both revenue and profitability. Yahoo Finance's Jared Blikre breaks down the details, dissecting how Nvidia's performance is affecting the wider semiconductor market.

For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend.

This post was written by Angel Smith

Video transcript

Nvidia shares are nearly 3% higher.

Here in the after hours following those earnings, Jared Blier joins us now to check in on how the numbers are impacting the rest of the markets.

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Jared Josh, we almost had $1000 for NVIDIA in the after market.

And you can see right now it's only at 9 74 87.

That is good enough for uh a 2.66% increase over the closing number.

And that number we got only minutes ago was 949 50.

Now there are about $2.5 billion 2.5 billion shares outstanding.

So if you do the math at $1000 per share, you're going to end up with a valuation of $2.5 billion.

So still not to three trillion like Microsoft or Apple was prior but inching up there.

So I thought it was really interesting to see the commentary gross margins just knocking it out of the the actual beat for the current quarter for the reporting quarter, not as big as people might have liked, but nevertheless, it's all about the forward guidance and I should say something about the stock split as well.

10 for one that's going to happen on June 7th, as we've talked about, typically a stock split or a reverse split.

That's where shares are increased isn't supposed to really affect the bottom line of the company.

It's just a mathematical exercise, but this does make this very expensive stock 949 or $978 depending on your quote, that's uh gonna be brought down to 94 97 98 $100.

So that will also put it in candidacy for in addition to uh another index.

I'm not going to throw the name out there.

I don't want to start rumors, but typically you do want to have those lower uh price tags for these consumer stocks.

And that's what NVIDIA now now is.

It's a poster child for the A I revolution.

Now, let me check in on some of the other semiconductor stocks that are trending here and uh you can see the background colors here.

Those represent what happened during the day.

So little rectangles that uh show you what's been happening in the after hours.

I should point out that super micro up 1.8% arm up 1%.

So there's a lot of follow on trading here as well.