The demand for chips and the fortunes of the semiconductor industry rest a lot on the path the technology takes in the future.Veteran trader David Green pointed out the strength of NVIDIA Corporation (NASDAQ: NVDA) Monday morning.

The company had earlier blamed the declining demand for chips used in gaming computers because of challenging market conditions. Gaming and Professional Visualization revenue is expected to decline sequentially, as OEMs and channel partners reduce inventory levels to align with current levels of demand and prepare for NVIDIA’s new product generation. NVIDIA’s outlook for the third quarter of fiscal 2023 expects revenue to be $5.90 billion, plus or minus 2%. The company has $11.93 billion remaining under its share repurchase authorization through December 2023.

During the second quarter of fiscal 2023, NVIDIA returned to shareholders $3.44 billion in share repurchases and cash dividends, following a return of $2.10 billion in the first quarter. NVIDIA plans to continue share repurchases this fiscal year 2022-23. NVIDIA will pay its next quarterly cash dividend of $0.04 per share on September 29, 2022, to all shareholders of record on September 8, 2022.Īlso Read – Tesla Stock Split: 2 additional shares get credited to account, trading on a split-adjusted price soon – Check dates The Gaming segment of NVIDIA had second-quarter revenue of $2.04 billion, down 33% from a year ago and down 44% from the previous quarter. Earnings saw a major dip after the GAAP earnings per diluted share for the quarter were $0.26, down 72% from a year ago and down 59% from the previous quarter.

The company reported revenue for the second quarter ended July 31, 2022, of $6.70 billion, up 3% from a year ago and down 19% from the previous quarter. US Fed dot plot September 2022 with target level for the federal funds rate

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