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Nvidia's Earnings: An 8% Swing in the Stock Price

Eli GrantWednesday, Nov 20, 2024 11:54 pm ET

2min read

NVDA --

Nvidia traders are bracing for an 8% swing in the stock following the chipmaker's earnings report, scheduled for after the market close on Wednesday. The company is expected to report record revenue and earnings, driven by strong demand for its AI and data center products. Analysts anticipate revenue of $33.3 billion, up 83% year-over-year, and earnings per share of $0.75, up 100% from the same period last year. Nvidia's stock has been on a tear this year, up 80% year-to-date, and traders are positioning for a potential post-earnings rally. However, some analysts caution that the stock may be overvalued, trading at a price-to-earnings ratio of 68.8. Investors will be closely watching Nvidia's guidance for the current quarter and any updates on the production ramp of its new Blackwell GPU architecture.

Nvidia's earnings report is a critical event for the company and its investors. The chipmaker's strong performance in the AI and data center markets has driven its stock price to new highs, and traders are eagerly awaiting the latest results. The company's guidance for the current quarter and any updates on the production ramp of its new Blackwell GPU architecture will be closely watched by investors.

NVDA Trend

Nvidia's stock price has been on a tear this year, up 80% year-to-date. The company's strong performance in the AI and data center markets has driven investor enthusiasm, and traders are positioning for a potential post-earnings rally. However, some analysts caution that the stock may be overvalued, trading at a price-to-earnings ratio of 68.8. Investors will be closely watching Nvidia's guidance for the current quarter and any updates on the production ramp of its new Blackwell GPU architecture.

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George Bennett

11/21

$QQQ On $NVDA, it's either at its peak or nearing it quickly. As one of the heaviest weighted stocks, it's being overbought while the rest of the market is getting torn apart. There might be a minor Santa rally as they finish shifting out of everything else, but it's almost over. They've reduced their dividend and initiated layoffs. Once China releases a mass-produced, almost as good, and significantly cheaper version, sales will plummet. Additionally, Trump's tariffs (as scheduled) will disrupt the supply chains for all the parts their chips are installed in. This means no one will purchase a $100k engine if the rest of the car can't be obtained from overseas manufacturers. Over the next two months, I'll be executing long dated puts. GL

Versace__01

After Nvidia's impressive Q3 earnings beat and raised forward guidance, analysts are boosting their price targets for the company. Here's a look at the updates: Rosenblatt Securities: Reiterated "Buy" rating, target $200 Wedbush: Maintained "Outperform" rating, raised target to $160 from $138 Raymond James: Upgraded target to $170 from $140, "Strong Buy" rating Oppenheimer: Raised target to $175 from $150, "Outperform" rating HSBC: Increased target to $200 from $145, "Buy" rating Susquehanna: Adjusted target to $180 from $160, "Positive" rating Citigroup: Increased target to $170 from $150, "Buy" rating Mizuho: Raised target to $165 from $140, "Outperform" rating Redburn Atlantic: Initiated coverage with "Buy" rating, $178 target UBS Group: Raised target to $185 from $150, "Buy" rating The Club: Raised target to $165 from $150 These upgrades indicate a generally positive outlook for Nvidia's stock. It's worth noting that some of these targets may be prior to the earnings report. My expectation is that these price targets will continue to rise as the company demonstrates its growth and progress.

NavyGuyvet

Nvidia's AI moves are fire, but that P/E ratio is scary. Might sell some and hold cash.

lem_lel

Guidance + Blackwell GPU updates could shake the market

kenton143

$NVDA earnings might show AI industry's real power.

Comfortable_Corner80

8% swing? Watch stop-losses, folks. It's gonna be wild

Far_Sentence_5036

Nvidia's AI dominance makes it a moonshot candidate

AIONisMINE

80% ytd gain, but P/E ratio looks stretched

portrayaloflife

Hoping for that earnings boost! $NVDA's got that juice in AI and data centers. But those analysts saying it's overvalued? 🤔 Might have to adjust my portfolio if it tanks.

rltrdc

$NVDA overvalued? Market's saying yes. Still holding a bit, but not going all-in.

iyankov96

Hodling $NVDA, expecting this rally to be long-term 🚀

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