NVDA Stock Price: Nvidia shares retrace lower after disappointing earnings from Intel

NASDAQ:NVDA fell by 3.64% during Thursday’s trading session.
Semiconductor stocks fall as Intel disappoints with 2022 guidance.
NVIDIA officially launches its cloud gaming service on LG televisions.

Stocks Reporter FXStreet

NASDAQ:NVDA continues to flip flop between green and red days as the GPU leader braves the aftermath of its collapsed deal with Arm Ltd. On Thursday, shares of NVIDIA fell by 3.64% and closed another volatile session at $219.44. More tech weakness came on Thursday and the NASDAQ continued to implode, falling by a further 1.40% as the markets tailed off into the closing bell. Despite several large-cap tech companies reporting positive earnings for the quarter, the sell-off in growth stocks has continued. On Wednesday, Tesla (NASDAQ:TSLA) reported and was down 11% on Thursday. We’ll see what happens on Friday as Apple (NASDAQ:AAPL) reported another blowout quarter after the closing bell.

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One of those companies that reported its earnings is NVIDIA rival Intel (NASDAQ:INTC) which held its call after the close on Wednesday. While the quarter was an undeniable success for Intel, as it beat on both earnings per share and revenue estimates. So why did shares of Intel fall by 7% on Thursday? The company also provided guidance for the first quarter of 2022, and from the initial forecast, it seems as though Intel might have difficulty beating expectations. NVIDIA is set to report its quarterly earnings on February 16th.

NVIDIA stock forecast

On the product side, NVIDIA officially launched its cloud gaming service which will come installed on most LG televisions. The GEForce Now platform will allow users to stream games that were bought on digital sites like Steam, and play them directly through the television, rather than on a computer. The premium tier does have a subscription fee that will add yet another revenue stream to NVIDIA’s vast portfolio of products and services.

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