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Nvidia data shows the chipmaker may already be bouncing back

3 months ago by Jon Marino in Earnings

Nvidia ($NASDAQ:NVDA) - which saw job postings and share price plummet in the last 12 months - looks to be back on the road to recovery. Shares are up about 5% heading into the open Friday August 16 after the company posted a top- and bottom-line earnings beat. 

The chart sums the current state of Nvidia up well: not too long after the company saw a stock drop of roughly 50% to end 2018, it was followed by a cut to job postings of 90% from Nvidia's January peak, to the end of the first quarter, or from nearly 1,400, to less than 150 as of March 31.

But eventually Nvidia bounced back (its stock, has not, so much). Job postings rose nearly 60% in the second quarter, and in the time since, another 56% to 347 total posts in early August. 

Whether or not it reflects an improvement in growth prospects, remains to be seen. The US-China trade war shows no end in sight, and has been reduced to a series of bluffs and bets between American and Chinese leaders. Already, leading US technology firms - Nvidia among them - have substantially scaled back job postings in China, even as Chinese party officials have reportedly pressured American tech companies to not shift supply chain and production planning in light of the lingering diplomatic spat. And some analysts think chipmakers like Nvidia are particularly vulnerable. 

But, there could be a new line of business for Nvidia to grow, as certain Chinese businesses slow. With so many potential partners preparing the launch of new games, it looks like Nvidia needs to staff up to get in on the action as well. Job Postings with "Gaming" in the title rose from 1 to 20 over the course of the quarter.  

About the Data: 

Thinknum tracks companies using 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. 

Further Reading: 

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Jon Marino

Jon Marino is Thinknum's finance editor, covering the impacts of alternative data on public companies and investors. Prior to joining Thinknum, Jon worked in the ...

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