Here's why Nvidia's stock is climbing despite a disappointing forecast
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Nvidia's stock rose over 4% in after-hours trading despite a disappointing forecast due to U.S. export restrictions impacting its H20 product. The company reported a 69% revenue increase to $44.06 billion, slightly below Wall Street's expectations. Nvidia anticipates $8 billion in revenue losses for the second quarter but expects revenue of $45 billion. Analysts noted strong demand for AI-related products and a healthy adjusted gross margin of 61%. Nvidia's forward price-to-earnings ratio is 28.3, indicating a more reasonable valuation as growth normalizes.
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