Nvidia’s Upcoming Earnings Report: Will It Continue Its Winning Streak?
The Tech Giant’s Shares Have Soared 191% This Year, But Can It Maintain Momentum?
As the world’s largest market capitalization company, Nvidia Corp (NASDAQ:NVDA), prepares to release its September quarter earnings on November 20, investors are eagerly waiting to see if the company can continue its impressive performance.
A Year of Impressive Growth, But Recent Decline Raises Concerns
Nvidia’s shares have risen an astonishing 191% year-to-date, outperforming the Nasdaq 100 Index, which grew by 24%. However, in the last month, the company’s shares have declined by 2.5%, underperforming the index. This recent dip has raised concerns about whether Nvidia can maintain its momentum.
Technical Analyst Sees Upside Potential
Dr. C.K. Narayan, technical analyst and chief investment officer at NeoTrader, believes that “the trend is resolute in Nvidia charts.” He expects the stock to trade upwards of $140 per share if the third-quarter financials beat street expectations.
Earnings Expectations: Strong Demand for Hopper and Blackwell GPUs
Nvidia has forecasted third-quarter revenue of approximately $32.5 billion, driven by strong demand for its Hopper and Blackwell GPUs. These GPUs are expected to bolster Nvidia’s data center segment. However, production constraints on new products could limit the potential upside for the current quarter and the company’s outlook.
Historical Earnings Performance: A Track Record of Success
Over the last 12 quarters, Nvidia has exceeded earnings-per-share (EPS) expectations 10 times and missed revenue expectations only once. On average, Nvidia shares moved 5.3% in the single trading day following its earnings release.
Investment Opportunities Beyond Stocks
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What’s Next for Nvidia?
Will Nvidia continue its winning streak, or will production constraints and market expectations weigh it down? One thing is certain – investors will be watching closely when the company releases its earnings report on November 20.
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