3 key takeaways from Nvidia's earnings: China blow, cloud strength and AI future

In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT watch now Nvidia reported strong fiscal first-quarter earnings on Wednesday. Wall Street was pleased with Nvidia's continued sales growth, which hit 69% during the quarter. The company's data center division continues to surge as companies, countries, and cloud providers snap up Nvidia graphics processors, or GPUs, for artificial intelligence software. "The team continues to maintain a 1- 2 step lead ahead of competitors with its silicon/hardware/software platforms and a strong ecosystem, and the team is further distancing itself with its aggressive cadence of new product launches and more product segmentation over time," wrote JPMorgan analyst Harlan Sur. Here are three big takeaways from the company's earnings: China could be a $50 billion market for Nvidia, but U.S. export controls are getting in the way Nvidia expects to sell about $45 billion in chips during the July quarter, it revealed on Wednesday, but tha ... Read full article.