Nvidia to Wall Street: What supply problems?

News Snapshot:

Nvidia (NVDA) reported blowout second quarter results Wednesday, crushing Wall Street’s expectations on both the top and bottom line. But perhaps the most important news came during the company’s earnings call when CFO Colette Kress attempted to assuage investors’ concerns about a supply crunch and the impact of further U.S. sanctions against China. Nvidia, Kress told analysts, is well positioned on both fronts. “Our supply partners have been exceptional in ramping capacity to support our needs,” Kress said. “We have also developed and qualified additional capacities and suppliers for key steps in the manufacturing process.” According to Kress, Nvidia expects...