May 21, 2024
Hot Stocks 🔥

Nvidia To Announce Earnings On Wednesday | Nemo

Name of opportunity: 👀

Nvidia Corporation

… BOOM: 🧨

US stock markets, as measured by S&P 500, jumped by 2.1% on 22 February - its biggest 1-day jump in over a year. That was the day after Nvidia forecasted a higher-than-expected US$ 24 billion in revenue for this fiscal quarter (3 months ending April 30th). Since then, both Nvidia’s share price as well as the S&P 500 have respectively climbed to fresh record highs. The world is waiting to see whether Nvidia can deliver on that US$ 24 billion target, and if there are even more profits waiting in the months and years ahead.

How hot is this investment opportunity? 🔥🔥🔥

Nvidia is currently recommended as a ‘Buy’ by analysts - in fact, it’s right on the cusp between ‘Buy’ and ‘Strong Buy’.

This may be because analysts are predicting that Nvidia’s stock will continue to rise in value, particularly after the earnings data is released this Wednesday, if the company has continued to grow and improve on its earlier performance. It’s some analysts’ prediction that the price of Nvidia Corporation will increase from $937.40 to $1040.75 in the next 12 months. If you invested $1000, this means you might profit $109.54.

Reasons why analysts think Nvidia could continue to perform well financially include the high demand for its products, which is partly driven by the development of AI. Nvidia is one of the most well known producers of advanced computer chips that facilitate the use of AI technology - so some think that a win for AI is a win for Nvidia. However, some are saying that rival AI chips made by companies including Microsoft could pose a threat to Nvidia’s current spot at the top of the food chain. 

Important for AI: 🤖

We’ve written about Nvidia before on Hot Stocks, just after the last earnings announcement,  describing the company’s work making advanced microchips as well as supercomputers. Nvidia works in several different spaces, the company’s GPUs (graphic processing units) being an ideal fit for the gaming industry. However, Nvidia also undertakes a great deal of B2B work, producing ‘digital twins’ of spaces such as warehouses and factories, which the company’s clients can use to run online tests before they commit to trying something in the real space. 

Which neme?: 🔍

‘This Week’s Earnings’, ‘Record Setters so far in 2024’, ‘Copy a $10Trn Asset Manager’, ‘High Growth Stocks’, ‘Top Stocks in AI’, ‘Big Tech’, ‘Gaming’, ‘Top Stocks on X/Twitter’, ‘Largest US Stocks’, “Microchips’. And breathe out! This popular stock is listed in many different nemes, as you can see. 

Download Nemo to see what happens when Nvidia release earnings data on Wednesday. 

Han Tan

Han Tan is a seasoned financial journalist and news presenter renowned for his expertise in global markets. With a career highlighted by interviews with prominent figures and recognition from major media outlets like CNN and Reuters, he delivers insightful analysis on market news and macroeconomic trends to clients and international audiences. Han's sharp commentary on currencies, stocks, and commodities is familiar to viewers of Bloomberg TV Malaysia, BFM 89.9, and NTV7, cementing his sterling reputation in the industry.