Nvidia earnings will be major test for AI demand, market rally

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Chavi Mehta

The blistering rally in its shares means that Nvidia has little room for any earnings-related disappointment and anything other than a higher-than-expected forecast could trigger a rout in its stock, some analysts have warned. Wall Street expects the chip company to guide for a rise of about 110% in third-quarter revenue to $12.50 billion, according to Refinitiv. Nvidia has only forecast revenue below estimates once in the past two years.

It now trades at nearly 40 times the consensus earnings for the next 12 months, much higher than AMD's 29.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia earnings will be major test for AI demand, market rallyA blistering rally in its shares means it has little room for any earnings-related disappointment
Source: globeandmail - 🏆 5. / 92 Read more »

Bruised Stocks Face Week Full of Tests, From Nvidia to PowellEquity traders reeling from the market’s worst stretch since February face some pivotal events in the days ahead, and a closely watched speech by Federal Reserve Chair Jerome Powell may not even be the biggest test of all.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Futures climb as focus shifts to Powell at Jackson Hole, Nvidia earnings(Reuters) - U.S. stock index futures rose on Monday after a sharp selloff last week, with investors awaiting more clues on interest rates from an ...
Source: SaltWire Network - 🏆 45. / 63 Read more »