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NVIDA beats on Q4 revenue and Q1 forecasts- Nasdaq 100 futures dip and rebound

The most eagerly US earnings report of the year to date has just been released and of course it is the recently crowned tech giant, NVIDIA. As noted much earlier today the markets were expecting a significant revenue number for Q4, 2023 of around $21.6 billion, with an EPS of around $4.35. The outlook from the company was deemed to be as important as the results themselves. Just ahead of this release the stock price had lifted into the close, as indeed had the Nasdaq 100 itself, rising from a low at 17,319, to close just 67 points lower, at 17,478. The Nasdaq 100 futures were also rising slightly ahead of the results. Well, NVIDIA has beaten forecasts for Q4, but  more importantly, Q1 guidance has risen more than expected. The Q1 estimate is above the forecast of $21.98 billion, at $24 billion. The immediate reaction across the markets has seen the share price fall in the pre-market and that has sent the NASDAQ futures quite sharply lower. However, it is worth pointing out that the price action on both is volatile and sporadic. The Nasdaq 100 dipped to below 17,400, from above 17,475. It is now rising back to where it was as the NVIDIA stock price future rebounds. The Nasdaq 100 is currently priced to reopen tomorrow at above 17,550
 

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