After the closing bell yesterday, Nvidia (NVDA Quick QuoteNVDA - Free Report) reported stronger-than-expected first-quarter fiscal 2019 results. The company beat the Zacks Consensus Estimate for both the top and the bottom line and issued an upbeat guidance buoyed by strong demand for gaming and cloud services.

However, a steep slowdown in demand from cryptocurrency miners has dampened investors’ mood. As such, shares of NVDA pulled back 2% in aftermarket hours from the record highs reached in the regular trading session (read: Should You Snap Up Downtrodden Semiconductor ETFs Now?).

Q1 Earnings in Detail

Earnings per share came in at $2.05, crushing the Zacks Consensus Estimate of $1.65 and improving 141% from the year-ago quarter. Revenues climbed 66% year over year to $3.2 billion and edged past the estimate of $2.91 billion. The performance was powered by a boom in the datacenter and gaming business lines.

Datacenter revenues jumped 71% to a record $701 million, while gaming sales climbed 68% to $1.72 billion. Notably, gaming remains the company's biggest moneymaker and the largest segment, accounting for about 54% of total revenues.

Though stronger-than-expected demand from cryptocurrency miners raked in revenues of $289 million in the quarter, Nvidia expects crypto sales to fall by about two-thirds in the current fiscal quarter (read: Two Blockchain ETFs Go Live for The First Time).

For the second quarter of fiscal 2019, NVIDIA expects revenues of approximately $3.10 billion (+/-2%). The Zacks Consensus Estimate was pegged at $2.97 billion.

Currently, Nvidia has a Zacks Rank #3 (Hold) and a Growth Score of B. Additionally, it falls in a top-ranked Zacks Industry (top 16%).

ETFs in Focus

Given solid results but some concerns related to demand for crypto mining chips, Nvidia could see range-bound trading in the coming weeks. Investors seeking to bet with lower risk could invest in ETFs that have a higher allocation to this graphics chipmaker. Below we have highlighted some of them:

Global X Robotics & Artificial Intelligence ETF (BOTZ Quick QuoteBOTZ - Free Report)

This product seeks to invest in companies that potentially stand to benefit from increased adoption and utilization of robotics and AI, including those involved with industrial robotics and automation, non-industrial robots, and autonomous vehicles. It tracks the Indxx Global Robotics & Artificial Intelligence Thematic Index and holds 28 stocks in its basket with Nvidia taking the top position with 10.3% allocation. BOTZ has AUM of $2.5 billion and trades in solid average daily volume of 1.7 million shares. It charges 68 bps in annual fees.

iShares PHLX Semiconductor ETF (SOXX Quick QuoteSOXX - Free Report)

This ETF offers exposure to 30 U.S. companies that design, manufacture and distribute semiconductors by tracking the PHLX SOX Semiconductor Sector Index. Out of these, NVDA takes the second spot with 8.6% allocation. The fund has amassed $1.6 billion in its asset base and charges a fee of 48 bps a year. It trades in a solid volume of 702,000 shares and has a Zacks ETF Rank #1 (Strong Buy) with a High risk outlook (read: Intel's Strong Q1 Results to Power Semiconductor ETFs).

AdvisorShares New Tech and Media ETF     

This is an actively managed ETF designed to invest in companies that are driving economic growth in the modern era, and can adapt to changing leadership by maintaining the ability to invest in the next generation of technology and media companies leading the equity markets. It seeks to provide a similar return stream to the performance of technology and media equity leaders as characterized by the FANG stocks acronym. This approach results in a basket of 25 stocks with Nvidia occupying the fourth position, holding 6.1% share. FNG has amassed $45.7 million in its asset base and comes with a high expense ratio of 0.85%. Volume is light at 70,000 shares.

PowerShares DWA Technology Momentum Portfolio (PTF Quick QuotePTF - Free Report)

This fund follows the Dorsey Wright Technology Technical Leaders Index, and provides exposure to companies that are showing relative strength (momentum). Holding 43 stocks in the basket, Nvidia occupies the second position accounting for 6.1% share. The product is illiquid and unpopular with AUM of $126.2 million and average daily volume of 7,000 shares. It charges 60 bps in annual fees and has a Zacks ETF Rank #2 (Buy) with a High risk outlook.

VanEck Vectors Semiconductor ETF (SMH Quick QuoteSMH - Free Report)

This is one of the popular and liquid ETFs in the semiconductor space with AUM of $1.6 billion and average daily volume of 5.8 million. The fund provides exposure to 26 global securities by tracking the MVIS US Listed Semiconductor 25 Index. NVIDIA occupies the fourth spot with 5.3% of assets. While American firms dominate the fund’s holdings with 80.8% assets, the Netherlands (9.5%), Taiwan (7.4%), and Bermuda (2.23%) round off the top four in terms of country exposure. The fund charges an expense ratio of 0.35%. It has a Zacks ETF Rank #2 with a High risk outlook (read: Should You Buy Beaten Down FANG ETFs Ahead of Q1 Earnings?).

PowerShares Dynamic Semiconductors Fund (PSI Quick QuotePSI - Free Report)

This fund tracks the Dynamic Semiconductor Intellidex Index, which evaluates companies based on a variety of investment merit criteria, including price momentum, earnings momentum, quality, management action and value. It holds 30 securities in the basket, with NVIDIA occupying the fourth position, holding 5.2% of assets. PSI has AUM of $339.2 million and charges 63 bps in annual fees. It trades in volume of 97,000 shares per day on average and has a Zacks ETF Rank #1 with a High risk outlook.

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