Cramer Celebrates 'National NVIDIA Day,' Compares CEO Jensen Huang To Taylor Swift
Portfolio Pulse from Chris Katje
Jim Cramer celebrates 'National NVIDIA Day' ahead of NVIDIA Corporation's (NASDAQ:NVDA) highly anticipated Q4 earnings report. Analysts expect a significant revenue increase to $20.62 billion from last year's $7.19 billion and earnings per share of $4.64, up from 88 cents. Cramer compares NVIDIA CEO Jensen Huang to Taylor Swift, emphasizing Huang's influence and success. NVIDIA's performance could impact the market, especially as it's a major holding in SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust (NASDAQ:QQQ).
February 21, 2024 | 4:52 pm
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POSITIVE IMPACT
NVIDIA is expected to report significant Q4 revenue and EPS growth. Its performance is highly anticipated and could influence market sentiment.
Given the high expectations for NVIDIA's Q4 earnings, a positive report could further boost investor confidence, especially after outperforming estimates in previous quarters. However, any deviation from expected results could have a significant market impact.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
NVIDIA, being the fourth-largest holding in QQQ, means its Q4 earnings report could influence QQQ's market performance.
Given NVIDIA's role as a key component in QQQ, its earnings outcome could sway QQQ's performance, particularly in the context of NVIDIA's recent market cap achievements and its influence on tech sector sentiment.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 75
POSITIVE IMPACT
As NVIDIA is the third largest holding in SPY, its Q4 earnings could impact SPY's performance.
NVIDIA's significant weight in SPY means its earnings performance could directly affect SPY's valuation, especially if NVIDIA continues its trend of outperforming market expectations.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 75