Alternative data reflects the same sort of market optimism that has turned its shares into one of the few must-haves for portfolio managers in 2020. Analysts tracked by Zacks Investment Research are expecting increased earnings of about $1.36 per share when Nvidia announces results after the market closes May 21.
Nvidia job postings took a dive in 2019, in part thanks to its operations in China for production purposes, then surged back to life as Presidents Xi Jinping and Donald J. Trump scaled back their trade war beef not too long before the global pandemic unfolded.
So while job postings may, in fact, be down more than 30% from their peak, that's far from the scale many other Silicon Valley tech companies are seeing listings removed as they confront a Coronavirus reality. Because Nvidia has added hundreds of job postings since late May 2019 - when its listings hit a bottom - this chart reflects the reality of a rebound more than that of a struggle.
Nvidia's GAMES app is used alongside the Nvidia Shield, an Android TV-based digital media player produced by Nvidia, and it saw ratings take on a new trajectory in the middle of the pandemic, as more people got That said, ratings in the store has been dipping (not shown) and recently slipped under 3.5-out-of-5.
Already, market watchers had high expectations for Nvidia based on its gaming strength (and, as we've previously reported, a sheltered-in-place world is a world very much more likely to start gaming to pass the time). We've tracked Nvidia's value to the gaming community before, but it's also evident, in our chart tracked above.
A big beat May 21 will place Nvidia in the pantheon of elite Nasdaq tech stocks in what has been a tough year for investors - and its rebound in China, of all places, maybe what propels success going forward.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.