News Formal

This chip stock could yield a quick profit, depending on Nvidia's earnings, Morgan Stanley says

  • 📰 CNBC
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

How well Nvidia performs Wednesday could have implications for this derivative play, according to Morgan Stanley.

All eyes are on Nvidia 's quarterly print after the bell Wednesday, and how well the chipmaker performs could have major implications for this derivative play, according to Morgan Stanley. Analyst Charlie Chan named Taiwan Semiconductor Manufacturing a "catalyst driven idea" whose shares could rally win given its role as the sole supplier for Nvidia's AI graphics processing units.

Nvidia shares rocketed more than 24% in late May, the day after topping quarterly expectations and issuing blowout guidance, citing elevated demand related to artificial intelligence applications. The stock has served as the stock market's AI poster child in 2023, surging more than 215%. As a supplier to Nvidia, Taiwan Semiconductor's also benefited from the buzz around AI, with its U.S.-listed shares up more than 24% this year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

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

Nvidia's stock looks to snap losing streak as earnings optimism buildsNvidia Corp.'s earnings are drawing nearer, and yet another analyst is feeling upbeat heading into the upcoming report.
Source: MarketWatch - 🏆 3. / 97 Read more »

The AI Trade Faces Its First Major Test With Nvidia EarningsThe chip maker’s rosy forecast lifted markets in a turbulent time—but the bar to dazzle investors is higher now.
Source: WSJ - 🏆 98. / 63 Read more »

Here's the trade on Nvidia ahead of earnings, according to analystsAhead of earnings Wednesday, analysts are weighing in on the forthcoming report and how to trade the earnings.
Source: CNBC - 🏆 12. / 72 Read more »

Nvidia, Lowe’s, Analog Devices, Ulta Beauty, Dollar Tree, and More Stocks to Watch This WeekThe Federal Reserve's Jackson Hole Economic Policy Symposium begins on Thursday. Plus, earnings from Lowe's, Nvidia, Dollar Tree, Intuit, and Ulta Beauty.
Source: MarketWatch - 🏆 3. / 97 Read more »