Stock is down before the earnings release on Wednesday
Nvidia will release their 2nd quarter earnings after the close on Wednesday. The chipmaker is expected to see earnings rise to $1.97 from last year's $1.24 on revenues of $3.7 billion vs. $2.6 billion a year ago. The adjusted gross margins are expected to rise to 61.9% from 60.1% in 2020.
Nvidia has been riding the surging wave of gameplaying as a result of the coronavirus
Nvidia shares are are currently trading down around -0.68% at $490.13. Its shares are up 108.27% year to date and up 186% going back a year ago.
* CORRECTION: Earnings will be released tomorrow- not today. My mistake..Sometimes the days become a blur.