It has been a volatile week of market volatility, but on Friday, chip makers Nvidia (NVDA) and Applied Materials (AMAT) will focus on what's important after their quarterly results released Thursday night.
"We achieved sequential growth on our platforms," said Jensen Huang, founder and CEO of Nvidia, in a statement. "NVIDIA continues to accelerate the pace of data processing as the industry competes to reach the next limit on artificial intelligence, conversational AI and autonomous systems such as self-propelled vehicles and delivery robots."
Nvidia's sales forecast for the third quarter expectations not met. The chipmaker expects sales totaling $ 2.9 billion, below estimates for $ 2.97 billion in the third quarter.
Also, the competing chipmaker Applied Materials achieved a significant jump in sales in the third quarter.
"Applied Materials delivers solid financial performance in a market environment that remains challenging for the time being," said President and CEO Gary Dickerson in a statement. "We look forward to the future opportunities of the Company and are funding our R & D programs to develop new products and features that will accelerate our customers' roadmaps and support our growth in the coming years."
The company adjusted in the fourth quarter earnings per share and revenue estimates also met Wall Street expectations. Applied Materials expects adjusted EPS to be between 72 cents per share and 80 cents per share, an estimated 75 cents per share. The company expects sales of $ 3.38 to $ 3.68 billion and expects sales of $ 3.63 billion in the fourth quarter.
Meanwhile, Deere & Co (DE) will deliver quarterly results before Friday's open.
The industrial giant is expected to receive adjusted earnings of $ 2.84 per share on revenue of $ 9.38 billion.
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