NVIDIA Corporation (NASDAQ: NVDA) is trading higher Thursday after the company announced better-than-expected second-quarter financial results.
What Happened: Nvidia reported adjusted quarterly earnings of $1.04 per share, which beat the estimate of $1.02 per share. The company reported quarterly revenue of $6.51 billion, which beat the estimate of $6.33 billion.
Nvidia expects third-quarter revenue to be $6.8 billion, plus or minus 2%, versus the estimate of $6.53 billion.
Related Link: NVIDIA: Q2 Earnings Insights
Brown’s Take: Nvidia is a must-own stock for growth investors, Ritholtz Wealth Management CEO Josh Brown said Thursday on CNBC’s “Fast Money Halftime Report.”
Investors who want to own large-cap semiconductor companies should expect volatility, he noted.
Recently, Nvidia has been less volatile and traded more like Apple Inc (NASDAQ: AAPL) or Microsoft Corporation (NASDAQ: MSFT), but the stock isn’t going to be a safe haven if the market gets ugly, Brown said.
“In reality, if you are a growth investor or a technology investor, it’s a must own stock,” he said. “It’s a platform that, literally, you can’t not be invested in if you call yourself a growth investor and that’s probably what’s helping to hold it up.”
Brown told CNBC that investors buying Nvidia around the $200 level expecting the volatility to stay low should be careful.
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NVDA Price Action: Nvidia has traded as high as $208.75 and as low as $115.67 over a 52-week period.
At market close Thursday, the stock was up 3.98% at $197.98.
Photo: Nvidia George RTX, Courtesy of Nvidia.
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