Nvidia’s results have become the most important business benchmark on the market. Its impact on the stock market is comparable to that currently having on the stock market the employment data, which serves to gauge future interest rate cuts by the Federal Reserve. The microprocessor designer announced this Wednesday Apple reported record second-quarter sales and profits, but disappointed the market, especially with its third-quarter outlook and with manufacturing problems for its cutting-edge Blackwell model. Even an authorization to buy back $50 billion of shares failed to boost the stock. The company’s shares fell sharply after the results were published, down about 7%-8%.
