Nvidia's Roller Coaster Ride Through Early 2024 Sets The Stage For A Potential Market Shakeup As Investors Eye The Critical First Quarter Earnings Report
Portfolio Pulse from Zaheer Anwari
Nvidia has experienced a significant bull rally in early 2024, with its stock price increasing by 96% and nearly reaching $1000. The stock faced resistance at $974, leading to a 13% dip. With the first-quarter earnings report anticipated on May 22, analysts forecast earnings of $5.18 per share. The outcome of this report could potentially push Nvidia's stock past its previous highs or indicate a downturn if it falls below $756. The stock recently closed at $864.02, down 1.50%.
May 01, 2024 | 10:35 pm
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Nvidia's stock experienced a 96% increase in early 2024 but faced a 13% dip after hitting resistance at $974. The upcoming Q1 earnings report is critical, with analysts expecting $5.18 per share.
Nvidia's stock performance and the anticipation surrounding its first-quarter earnings report make it a focal point for investors. The stock's recent rally and subsequent dip highlight its volatility and potential for further growth or downturn based on the upcoming earnings. Given the company's positive earnings streak in the last four quarters, a favorable report could significantly impact its stock price, pushing it past resistance levels or indicating a potential downturn if it falls short.
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