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Nvidia shares fell 6.9% in the extended session shortly after the end of the company’s earnings call, with the declines intensifying over the course of the conference.

If that move holds through Thursday’s close, it would translate into the stock’s worst post-earnings drop since February 2022, when the company reported results for that January quarter and saw shares drop 7.6% in the following session.

Management’s comments on the conference call failed to spark further enthusiasm among investors. The stock is now trading at $117.03, down 4.1% just before the conference call began at $120.46.