Nvidia shares fall 1% as investors shrug off upbeat sales forecast

Nvidia reported better-than-expected results for the January quarter on Wednesday. The chip giant also gave a revenue forecast for the current quarter that was higher than what analysts had predicted. The stock barely moved in after-hours trading. Investors have grown used to Nvidia comfortably beating estimates quarter after quarter. This was the 14th straight quarter of strong results. So even though the numbers were good, many on Wall Street seemed to expect something more.

The upbeat forecast helped push Nvidia shares up more than 3% in extended trading, Reuters reported. But the early excitement didn’t last. As the earnings call progressed, the gains faded. By late after-hours trading, around the time of the update, the stock had turned flat and was down about 1%.