Shares of Nvidia Corp rose 6% on Friday after the chipmaker stunned analysts wit...
A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. REUTERS/Mike Blake
Analysts at Susquehanna said while they had expected the company to beat market consensus expectations thanks to the data center demand, they had never expected this kind of upside. Chipmakers have had a rollercoaster ride over the past two years, with Donald Trump’s trade war with China and the fading of a boom in mobile phone development and sales eating into growth. New markets in self-driving cars, internet of things appliances and the huge data centers needed to drive booming e-commerce and new online functionality, by contrast, are still developing.
The chipmaker also forecast first-quarter sales above estimates, even as it expected a $100 million hit from the coronavirus outbreak. The strong forecast also helped fuel expectations of a rebound in chip demand.
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