Tomorrow, NVIDIA (NASDAQ:NVDA) is set to announce first quarter earnings and there is a very real change its share price pops above the $1000 price ceiling the stock has been flirting with the past two months.
Semiconductor juggernaut Nvidia (NASDAQ: NVDA ) has had a slow session on Tuesday. Driving the pensiveness in NVDA stock is news that e-commerce giant Amazon (NASDAQ: AMZN ) halted its orders of a so-called “superchip.
Sentiments surrounding NVIDIA is bullish ahead of its earnings release due to its partnership with Dell which can ensure further business building. Options data firm Trade Alert suggests an anticipated swing of 8.7% in either direction post earnings release.
Amazon.com Inc (NASDAQ:AMZN) has hit the brakes on orders from NVIDIA Corp (NASDAQ:NVDA, ETR:NVD)'s in anticipation of the AI chipmaker's next release later this year. Amazon Web Services' previous orders for NVIDIA's Grace Hopper superchip have been “fully transitioned” to contracts for successor Blackwell, the company told the Financial Times.
Amazon.com Inc (NASDAQ:AMZN) has hit the brakes on orders from NVIDIA Corp (NASDAQ:NVDA, ETR:NVD)'s in anticipation of the AI chipmaker's next release later this year. Amazon Web Services' previous orders for NVIDIA's Grace Hopper superchip have been “fully transitioned” to contracts for successor Blackwell, the company told the Financial Times.
Nvidia stock slumped Tuesday ahead of its hotly anticipated earnings report due this week, as the top investor pick for artificial intelligence grapples with sky-high expectations.
Today's big news is the UK inflation read with economists expecting to see a number heading words 2%
Nvidia (NASDAQ: NVDA ) stock is a hot topic among traders as they prepare for the graphics card and artificial intelligence ( AI ) company to report earnings on May 22. Nvidia's earnings report will be a major event for both tech and AI investors.
As tech companies revealed their latest plans for artificial intelligence in the past week, Nvidia's name has been everywhere.
Several stocks across different industry groups including health care, software and retail are clearing buy points with their relative strength at new highs.
Nvidia's earnings report is expected to beat expectations, and the company is expected to raise guidance, potentially leading to a big rise in stock price. The demand for Nvidia's chips is insatiable, with the company expected to consume half of TSMC's advanced chip packaging capacity. TSMC is increasing capacity 5X between 2023 and 2025, potentially allowing NVDA to deliver 80% higher sales in 2025 than currently expected.
NVIDIA Corp (NASDAQ:NVDA, ETR:NVD)'s first-quarter results are expected to spark a US$200 billion swing in the chipmaker's market capitalisation. Data from analytics firm Trade Alert indicates options traders are anticipating an 8.7% swing in NVIDIA's share price following the results on Wednesday.