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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%.
Jim Cramer assessed Nvidia"s stock following reports of overheating issues with its new Blackwell AI chips. While acknowledging potential concerns, he views the stock"s decline as a buying opportunity, emphasizing strong demand and confidence in Nvidia"s market position. Cramer noted that Dell"s CEO confirmed shipments of Nvidia"s servers, reinforcing his belief in the company"s resilience despite the challenges.
Super Micro faces potential delisting from Nasdaq due to a late filing of its 2024 year-end report and ongoing compliance issues, including a history of financial misstatements. The company has until Monday to submit a compliance plan, which could grant it an extension of up to 180 days. However, its past compliance history may hinder its chances, as analysts express concerns about customer retention amid these challenges.
This week sees a continued rise in the US dollar amid a less dovish stance from the Federal Reserve, with rate-cut expectations for December dropping to 60%. Key earnings reports from companies like NVIDIA are anticipated, while the RBA and UK CPI data will be closely monitored for insights on inflation and monetary policy. Japan's core CPI shows signs of easing, but rising wholesale inflation raises concerns about future price pressures.
Nvidia is set to report its third-quarter financial results on November 20, 2024, with expected revenues of $32.5 billion, an 82% year-on-year increase, and an EPS of $0.74. While the Data Center segment remains dominant, modest growth is anticipated in Gaming and Professional Visualization. Investors will closely watch forward guidance and product developments, particularly regarding the Blackwell architecture, as positive updates could enhance stock performance.
At Nvidia's recent developer conference, CEO Jensen Huang showcased a vision for the future of AI, featuring humanoid robots reminiscent of Philip K. Dick's works. He emphasized that these robots will revolutionize industries by understanding physics and interpreting the world, predicting the shipment of "billions" of humanoid robots in the coming years.
Nvidia has surpassed Apple to become the world's most valuable publicly traded company, with a market cap of $3.43 trillion compared to Apple's $3.4 trillion. The surge in Nvidia's stock, which has nearly tripled in 2024, is driven by its dominance in the GPU market and strong growth in artificial intelligence. Meanwhile, Apple reported a 6% revenue increase but indicated weaker growth expectations, as Nvidia prepares to join the Dow Industrial Average, replacing Intel.
Nvidia briefly surpassed Apple as the world's most valuable company, reaching a market cap of $3.38 trillion, driven by its advancements in AI technology. Co-founder Jensen Huang reflected on the company's humble beginnings in a Denny's restaurant, emphasizing that success stems from hard work and vision. Despite a temporary dip, Nvidia's stock has surged over 500% in 2023, showcasing its pivotal role in the AI revolution.
Chinese autonomous driving startup Deeproute.ai has secured $100 million in funding, led by Great Wall Motor, while highlighting its collaboration with Nvidia. The company, which utilizes Nvidia's Orin chip and will soon adopt the Thor chip, aims to enhance its driver-assist systems without relying on high-definition maps. Deeproute currently operates in over 20,000 vehicles and anticipates significant growth in the coming year.
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vidia faces critical earnings report amid blackwell chip launch and competition
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