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Nvidia’s Upcoming Earnings Have Wall Street Overexcited. Why That’s a Risk.

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Analysts seem convinced that Nvidia earnings will wow Wall Street this week. Does it raise the risk of disappointment that could hit the whole stock market?

Wall Street’s bullishness on Nvidia ahead of the chipmaker’s hotly-anticipated earnings this week is reaching fever pitch—a trend that has the potential to be a risk for both the stock and wider sentiment if the company doesn’t deliver.

With Nvidia set to report second-quarter earnings on Wednesday, Wall Street has been banging the drum, with a steady stream of analysts outlining bullish expectations into the company’s results—a trend that has shown no sign of stopping. “We expect Nvidia to report results and guidance meaningfully above consensus expectations driven by strong demand and incremental capacity,” KeyBanc analysts led by John Vinh wrote in a Sunday note. “We see favorable risk/reward into earnings and remain Overweight.”

It raises the question: if everyone expects a beat-and-raise, is even a beat-and-raise a beat-and-raise?

 

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