Certain research has shown that investors tend to put too much faith in past earnings. Over time, this leads to a stock being overbought in the lead-up to an earnings release and a short-term dip after the release. What Nvidia is experiencing is very normal.

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Nvidia’s monster third quarter, bullish guidance, and multi-trillion dollar potential was not enough to satisfy Wall Street. Similar to what happened last quarter, the world’s largest stock ticked more than two percent lower in overnight trading following the blowout earnings report:

Expectations were sky-high and some fatigue may have crept in over Nvidia’s rocket-like trajectory but make no mistake: this was a remarkable quarter, burnished by fantastic execution and a sound plan.

Nvidia's Q3 2024 earnings exceeded expectations, but there are concerns over Blackwell chip issues and inventory shifts. Check out my analysis of NVDA stock.

Nvidia shares moved higher in premarket trading Thursday after the AI investor favorite released results and an outlook that surpassed Wall Street expectations. Monitor these important chart levels.

The Jen-Hsun & Lori Huang Foundation saw its assets, which mostly consist of Nvidia shares, more than triple to $3.4 billion at the end of 2023.