Evercore ISI has its eyes set on a handful of chip stocks ahead of earnings, including Nvidia and Broadcom . The third-quarter earnings season has surpassed Wall Street estimates. More than 90 S & P 500 companies have reported results, with 76% of those exceeding estimates, FactSet data shows. Chip stocks will come into focus later in the season, with artificial intelligence bellwether Nvidia slated to report on Nov. 20.
mountain Nvidia will report third-quarter results on Nov. 20. Broadcom also made the list. Shares have climbed nearly 61% in 2024. The chipmaker surpassed analyst estimates last month on the top and bottom line. Moving forward, the company said it expects to sell $12 billion worth of AI parts and semiconductors in 2024.
mountain Broadcom will report fourth-quarter results on Dec. 5. Other semiconductor stocks Evercore ISI is eyeing heading into earnings include Marvell Technology and AMD .