📉 NVIDIA’s Q2 earnings exceeded expectations, but the cryptocurrency market remains sluggish!
👋We take a look at Nvidia’s latest earnings report and its impact on the cryptocurrency market. On August 28, Nvidia released its second quarter performance report, with net income reaching an astonishing US$16.6 billion and revenue of US$30 billion, a year-on-year increase of 122% and a month-on-month increase of 15%. Sounds great? But the market doesn't seem to buy it.
🚀 Profit exceeded expectations, but stock price fell: Although Nvidia's profit exceeded Wall Street's expectations, the stock price fell by nearly 8% in after-hours trading, with the current pre-market price at $119. Ryan Detrick, chief market strategist of Carson Group, said in an interview that despite the growth in revenue, the threshold for this financial reporting season was set too high, and the extent of performance exceeding expectations was much smaller than in the past.
💡 In the earnings call, NVIDIA founder and CEO Jensen Huang said that those who invest in NVIDIA infrastructure will get immediate returns. He believes that this is the infrastructure with the highest return on investment currently. But the reality is that despite Nvidia’s remarkable achievements in the field of artificial intelligence, with a market value of more than $3 trillion, the cryptocurrency market has not been boosted.
👀 The cryptocurrency market seems uninterested in Nvidia’s earnings report. Adam Cochran on Twitter even joked that the cryptocurrency was acting like someone leaked Nvidia’s earnings. In the past week, despite the outstanding performance of artificial intelligence-based tokens such as Near Protocol (NEAR) and the Artificial Intelligence Super Intelligence Alliance (FET), the overall cryptocurrency market has still suffered a heavy blow, with approximately $200 billion in market value evaporated.
🔮 With the release of Nvidia’s financial report and the possible interest rate cut by the Federal Reserve in September, investors are looking for new trends in the cryptocurrency market. Meanwhile, with Bitcoin leading the decline on August 27, the market appears to be cooling off, with investors remaining cautious about its future direction.
🤔 What are your thoughts on the cryptocurrency market’s reaction following Nvidia’s earnings report? Will your investment strategy be affected in the current market environment? Share your views in the comment section!
