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The guidance numbers for the third quarter, according to Barclays analyst Blayne Curtis, were also not as significant when compared to previous quarters. Last month, analysts took a cautious approach towards NVIDIA Corporation (NASDAQ:NVDA), underlining that the earnings beat of the firm in the second quarter of 2021 was not as impressive as it had been in previous quarters. The firm has also crossed over $550 billion in market capitalization, reporting a little over $16 billion in revenue last year. The forward PE ratio of the company remains high at over 53. The cyclical nature of the semiconductor industry in the past indicates that the high demand for NVIDIA Corporation (NASDAQ:NVDA) products might cool off significantly in the coming months. The influence of other macroeconomic trends, like the recent crackdown against crypto operations in China, could also weigh heavily on the company in the near-term. However, market experts believe that a change in interest rates could hit the firm harder than peers, in addition to the concerns regarding the valuation of the stock.

NVIDIA Corporation (NASDAQ:NVDA) registered 53% topline growth in the last fiscal year and has already reached 31% topline growth so far this year.

Some of this growth is driven by the dramatic increase in semiconductor prices because of increased post-pandemic demand and supply chain constraints leading to a chip shortage. The stock has returned more than 87% to investors over the past twelve months. The semiconductor products made by the firm are used to power laptops, data centers, driverless cars, cryptocurrency mining operations and even artificial intelligence driven robots. NVIDIA Corporation (NASDAQ: NVDA ), the California-based visual computing firm, has made giant strides in the last two years to transform itself from a small gaming company to a technological giant whose products power the global digital economy.