Intel Corporation (NASDAQ:INTC) shares are trading lower by 6.47% to $27.12 Thursday morning in possible reaction to strong quarterly earnings from NVIDIA Corporation (NASDAQ:NVDA), which could be indicating strong demand for AI GPUs and driving competition concerns.
What Happened With NVIDIA Earnings?
Santa Clara, California-based Nvidia’s first-quarter earnings came in at $1.09 per share, ahead of the consensus estimate of 92 cents per share.
First-quarter revenue came in at $7.19 billion, also exceeding the Street estimate of $6.52 billion.
In late February, Nvidia guided to revenue of $6.5 billion plus or minus 2%, which translates to a range of $6.37 billion to $6.63 billion…Read More
According to data from Benzinga Pro, INTC has a 52-week high of $44.93 and a 52-week low of $24.59.
