NVIDIA shares: Can the Wall Street darling beat earnings expectations again?
NVIDIA reports on Wednesday evening and is one of Wall Street’s favourites since it has been surfing the AI wave ahead of all its competitors.
Earnings per share are expected to come in at $2.07 on $11.07 billion in revenue. IGTV’s Angela Barnes looks at what else the market is expecting.
(Video Transcript)
US earnings
Well elsewhere let's look at US earnings this week as well because it'll be another important week for the retail sector with reports from Urban Outfitters on Tuesday followed by Foot Locker and Abercrombie and Fitch on Wednesday and Dollar Tree and Gap on Thursday but the real interest will be out of the retail sector because NVIDIA reports on Wednesday evening as mentioned and the question is can it beat earnings expectations for a third time?
Nvidia
Well NVIDIA is one of Wall Street's favourites since it's been surfing the AI wave ahead of all its competitors. Earnings per share are expected to come in at $2.07 per share on $11.07 billion in revenue. Now to understand how AI, artificial intelligence, is a game changer for Nvidia you just need to have a look at its quarterly report from a year ago. It then posted earnings of 58 cents per share, roughly a quarter of what it is forecast to post on Wednesday and revenue came in at $5.93 billion.
Nvidia chart
Well if we just pull up the Nvidia chart, the US company had its stock boosted again last week after Morgan Stanley analyst said that its stock is the firm's top pick following its most recent earnings report. The company is now valued at over one trillion dollars and its shares are up now nearly 200% so far this year. On the 23rd of August then the company will offer investors more insight into its financial health with its second quarter results.
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