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Markets · Investing · Business
Finance
Nvidia Just Delivered Bad News for AMD and Intel
Nvidia announced stellar second-quarter results, but one number is particularly bad news for some of its chip competitors.
Nvidia (NASDAQ: NVDA) recently delivered blowout second-quarter earnings that the market couldn't ignore, even if long-term questions about artificial intelligence (AI) remain.
The company easily beat Wall Street consensus estimates and raised third-quarter guidance beyond Street expectations. But the real kicker came when Nvidia CFO Colette Kress said that Nvidia is expecting 70% annual revenue growth in fiscal 2028, when the Street had only modeled 44%.
Details
During the earnings call, management also discussed a newer, fast-growing business. It's bad news for Advanced Micro Devices(NASDAQ: AMD) and Intel(NASDAQ: INTC).
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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