'Godfather Of AI' Jensen Huang And Nvidia Will Offer Bullish Outlook To Fuel Tech Rally 'Into Rest Of Year,' Says Analyst
Portfolio Pulse from Shanthi Rexaline
Wedbush analyst Daniel Ives anticipates a bullish outlook from Nvidia Corp.'s (NASDAQ:NVDA) second-quarter earnings report, which he believes will fuel the tech rally for the rest of the year. Ives expects the report to show that enterprise demand for AI buildouts is skyrocketing, validating his tech bull thesis into 2024. The Technology Select Sector SPDR Fund (NYSE:XLK) rose 0.45% to $165.71 in premarket trading on Monday and Nvidia climbed 1.73% to $440.50.
August 21, 2023 | 10:39 am
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Nvidia's Q2 earnings report is expected to show a bullish outlook, indicating a strong demand for AI buildouts.
The bullish outlook from Nvidia's earnings report is expected to show strong demand for AI, which could drive the company's stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The Technology Select Sector SPDR Fund (XLK) rose 0.45% in premarket trading, potentially influenced by the anticipated bullish outlook from Nvidia.
The rise in XLK's premarket trading could be influenced by the anticipated bullish outlook from Nvidia's earnings report, which could drive tech stocks up.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70