{ }
Symbol NVDA
Name NVIDIA Corporation
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City Santa Clara
Zipcode 95051
Website http://www.nvidia.com
Nvidia"s upcoming earnings report is generating significant anticipation, overshadowing geopolitical tensions, including Russia"s warning of a nuclear response to Ukraine"s missile strikes. U.S. markets showed resilience, with the S&P 500 and Nasdaq closing higher, while Qualcomm projected $22 billion in additional annual revenue by 2029. Investors are keenly focused on Nvidia"s performance and its next-generation Blackwell chips, which are critical for maintaining its lead in the AI chip market.
Asian shares showed caution ahead of Nvidia"s earnings report, with investors wary of potential disappointment. The dollar retraced some recent gains, while oil prices saw a slight increase, with U.S. West Texas Intermediate crude futures rising 0.2% to $69.53 a barrel. Bitcoin remained strong, last trading at $91,914, following expectations of a crypto-friendly administration under U.S. President-elect Donald Trump.
Nvidia"s stock rose nearly 5% to $147.01, with a significant 196% increase in 2024, as it prepares to report earnings. Retail giant Target also reports, while Walmart"s stock hit a new high after solid results. Delta Air Lines and United Airlines continue to see substantial gains, with Delta up 61% in 2024. Meanwhile, three utility companies—NiSource, Sempra, and Vistra—reached all-time highs, with Vistra gaining nearly 24% in November alone.
Stock futures remained mostly unchanged as investors awaited Nvidia"s quarterly earnings report, with Dow futures up 56 points and Nasdaq 100 futures slightly higher. Nvidia shares rose nearly 5% in anticipation of strong demand for its Blackwell AI chips, which could influence market trends for the S&P 500 and Nasdaq Composite. Additionally, Comcast plans to spin off its cable networks, including MSNBC and CNBC, with the separation expected to take about a year.
Nvidia"s earnings are currently viewed as more significant to the market than Federal Reserve decisions and employment data, according to insights from the options market. This shift highlights the growing influence of tech companies on market dynamics.
Nvidia"s performance leading up to its earnings report has garnered significant attention, with analysts closely monitoring market trends and stock movements. The charts indicate a pivotal moment for the company, reflecting investor sentiment and potential future growth. As the earnings date approaches, market watchers are eager to see how these indicators will influence Nvidia"s financial outlook.
Super Micro Computer shares surged over 30% after appointing BDO as its new auditor and submitting a compliance plan to Nasdaq, aiming to retain its listing. Despite this rebound, the company has lost about 75% of its value since March, amid ongoing scrutiny over accounting practices and a DOJ probe. Super Micro, a key player in the AI sector, reported sales exceeding $15 billion last fiscal year, but has faced significant challenges following a delay in filing its annual report.
On November 19, 2024, major analyst calls were made regarding several prominent companies, including Nvidia, Apple, Meta, Uber, Netflix, Apollo, and Datadog. These evaluations are expected to influence market perceptions and investment strategies in the tech sector.
Nvidia is set to report its third-quarter earnings, with a focus on the performance of its new Blackwell chip, crucial for sustaining growth in the competitive AI market. Analysts expect around $33.12 billion in revenue, reflecting nearly 83% year-over-year growth, while the data center business continues to dominate sales. CEO Jensen Huang will address demand for Blackwell and potential overheating issues, as the company navigates a significant market cap and evolving industry landscape.
NVIDIA"s upcoming quarterly figures are set to influence market movements, with high expectations from investors following a recent decline in share price. Meanwhile, concerns over the new Trump administration"s economic policies are causing unease in Europe, reminiscent of past trade conflicts. Additionally, escalating tensions from Ukraine"s missile strike on Russian territory have contributed to a negative market sentiment, with the DAX down over 1%.
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