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Nvidia pops after strong quarter, guidance — showing why the stock still has long-term promise



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Nvidia (NVDA) reported better-than-expected fiscal 2023 fourth-quarter results after the closing bell Wednesday and a strong current-quarter forecast. These promising financials show why we’ve kept a small position in this high-end chipmaker despite the headwinds facing the semiconductor industry. Revenue fell 21% year over year to $6.05 billion but exceeded expectations of $6 billion, according to the consensus estimate from Refinitiv. Adjusted earnings dropped 33% to 88 cents per share, though still outpaced estimates of 81 cents. Adjusted gross margin of 66.1% edged out the 65.6% estimate. NVDA YTD mountain Nvidia (NVDA) YTD performance Shares of the Club holding, which lost half their value last year, jumped nearly 9% in extended trading following the release. As of Wednesday’s close, Nvidia …

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