After shares of NVIDIA Corp. (NVDA) nearly tripled in value over the past year, the Santa Clara, Calif.-based chipmaker is experiencing some harsh volatility after posting its most recent quarterly earnings report. Investors have sold off NVDA more than 6% on Friday morning at $154.67, following another 4.3% dip on Thursday, despite the semiconductor player’s top line and bottom line beat. (See also: McDonald's, NVIDIA, AMD May Surge on Weak Dollar.)

NVIDIA reported earnings of $0.92 per share in the second quarter, exceeding the Street’s expectations of $0.70, according to FactSet. Q2 revenues, up 56% from the same quarter last year to $2.23 billion, also surpassed the consensus estimate of $1.96 billion. The tech company has beaten the FactSet consensus for earnings for the past eight quarters. NVIDIA’s sales guidance for the current third quarter of $2.35 billion compared to analysts’ forecasts of $2.14 billion.

Slowing Growth in Data Center Business

Investors were disappointed with data center segment sales, where NVDA’s cards are used for machine learning and artificial intelligence applications, which came in at $416 million versus the consensus of $423 million. Some analysts have also pointed to concerns over the reliability of NVIDIA’s growth in graphic processing units (GPUs) for cryptocurrency miners. Others note that while the autonomous vehicle market may present an opportunity, it currently only makes up a small fraction of the company’s top line.

Bernstein analyst Stacy Rasgon, who rates NVIDIA at outperform with a $165 price target, wrote in a research note following the report that investors “need to be prepared for volatility, exacerbated by the strong run in the stock in recent weeks and months.”

“We would advise staying the course, and continue to believe the story has legs,” added Rasgon. (See also: NVIDIA a Buy on ‘4th Wave of Computing': Jefferies.)

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