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NVIDIA's data center sales
Computing chip giant NVIDIA will announce its latest results on Wednesday afternoon, and its surging stock price year to date suggests a high bar for this report. Shares have doubled in 2020 as the fiscal second-quarter announcement approaches.
NVIDIA's previous results gave investors plenty to feel excited about. Revenue spiked 39% overall, thanks mainly to standout results from the data center segment, which crossed $1 billion in quarterly revenue for the first time. "The demand is the strongest we've ever had in data centers," CEO Jensen Huang said in the late May earnings call.
Huang's initial outlook for the fiscal second quarter called for sales to land around $3.65 billion, and we'll learn this week whether that projection was a bit too cautious. The headline grabbing update this week will likely be NVIDIA's outlook, though, which should incorporate robust demand in areas like PC and console gaming for the second half of 2020.
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