Year to date, the stock is up more than 50% after adjusting for the split. While stock splits are not material for the stock's performance and do not change the value of the stock, this event tends to make the stock more attractive to investors. Nvidia announced the 4-for-1 split that started trading July 20. In fact, the company's expansion beyond gaming chips and into new technologies such as artificial intelligence, virtual desktops, machine learning and much more has powered Nvidia to new heights. In no way was Nvidia a bust just because one niche group of customers no longer had use for its products. However, since mid-2019, NVDA stock hasn't stopped climbing, from about $140 in June 2019 to more than $750 in July 2021 before a 4-for-1 stock split. When the Bitcoin market collapsed, so too did demand for the company's cards, leading to a sharp decline in sales. The company was the victim of its own success, as Bitcoin speculators had spent the previous few months buying Nvidia's high-performance gaming graphics cards to help mine the cryptocurrency. In late 2018, Nvidia shares crashed after third-quarter earnings disappointed investors and management lowered guidance below expectations for the fourth quarter. You can follow him on Twitter check out his latest content at tradingcommonsense.- The bottom line: Should you buy Nvidia stock? He is also the author of the book " Beating Wall Street With Common Sense," which focuses on the practical strategies he has used to outperform the stock market. He is a senior financial market reporter for Benzinga and has contributed financial market analysis to Motley Fool, Seeking Alpha and InvestorPlace. He has a degree in brain and cognitive sciences from the Massachusetts Institute of Technology and specializes in the psychological challenges of investing. Wayne Duggan is a freelance investment strategy reporter with a focus on energy and emerging market stocks. Oppenheimer has an "outperform" rating and $310 price target for NVDA stock. "We see significant pent-up demand for Turing and believe estimates have reset for upside as volumes ramp," Schafer says. Oppenheimer analyst Rick Schafer says long-term investors should shake off the guidance miss and buy the stock ahead of the Turing launch later this year. Nvidia's automotive segment generated $161 million in revenue, above the $148 million consensus estimate. Professional visualization revenue was $281 million, above the $257 million consensus forecast. Data center revenue was $760 million compared to analyst expectations of $744 million. Gross margin in the second quarter was 63.5 percent, down from 64.7 percent in the first quarter.īy segment, NVDA reported gaming revenue of $1.80 billion, ahead of analyst expectations of $1.75 billion. Revenue was up 40 percent from a year ago. Both numbers topped consensus expectations of $1.66 and $3.10 billion, respectively. Nvidia reported second-quarter adjusted earnings per share of $1.76 on revenue of $3.12 billion. However, NVDA stock dropped 4 percent Friday morning after a guidance miss on Thursday afternoon, but analysts say there's still plenty to love about Nvidia. Nvidia Corporation (Nasdaq: NVDA) investors aren't used to disappointing earnings reports.