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Nvidia Drops, Gap Rises, Ross gains on Yearly Forecast
Description
On this episode of Stock Movers:
- Nvidia (NVDA) shares drop after investors shrugged off a stronger-than-expected revenue forecast and assurances that the AI economy isn’t in a bubble. Nvidia, the world’s most valuable company, announced Wednesday that sales will be about $65 billion in the January quarter — roughly $3 billion more than analysts predicted. The chipmaker also said that a half-trillion-dollar revenue bonanza due in coming quarters may be even bigger than anticipated.
- Gap (GAP) shares rise after the company said its sales came in stronger than expected, bucking the trend across the majority of retail and restaurant chains that have been warning of consumers’ deepening caution in recent weeks.
- Ross (ROST) shares gain after the discount retailer raised its earnings per share forecast for the full year. The improved guidance came in above the average analyst estimate.
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