We have been bears on Nvidia Corporation (NVDA) since September 2018. When we last covered this company, we forecasted a rather abysmal set of earnings for the next 12 months. Specifically we said:
But downgrades are just beginning as NVDA is hoping for a very strong second half, something that their bloated inventories suggest is not going to happen. From the standpoint of earnings, things don't look much better either as NVDA is guiding for higher operating expenses this year. We estimate that NVDA will hit (brace for this) just $2.28 in earnings per share.