Can AI Stalwart Nvidia Deliver Back-To-Back Hit? Q3 Earnings Preview
Portfolio Pulse from Shanthi Rexaline
Nvidia Corp. (NASDAQ:NVDA) is set to report its Q3 earnings with high expectations after a strong previous quarter. Wall Street anticipates EPS of $3.36 and revenue of $16.12 billion, marking significant year-over-year and sequential growth. The Data Center segment is expected to continue its strong performance, while the Gaming segment shows recovery. Analysts remain optimistic despite potential risks such as China export controls, with a consensus price target of $644.07, indicating a 28% upside. Nvidia's stock has recently surpassed the $500 mark and is the best-performing S&P 500 stock of the year.
November 21, 2023 | 10:04 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Amkor Technology, Inc. is mentioned as a source for Nvidia's advanced packaging technology, which could see increased demand with Nvidia's growth.
If Nvidia reports strong earnings and demand for its products, as a supplier, Amkor could see a positive impact on its business and potentially its stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Nvidia is expected to report strong Q3 earnings with significant growth. The stock has recently hit a record high and is the top performer in the S&P 500 this year.
Given the high expectations and recent stock performance, positive Q3 results could further boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Taiwan Semiconductor Manufacturing Co. Ltd. is mentioned as a supplier for Nvidia, which may benefit from Nvidia's growth and demand for its processors.
As Nvidia's supplier, TSMC stands to benefit from increased demand for Nvidia's products, which could positively influence TSMC's stock in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50