As has been the case for the last couple years, the reported quarter will be important but the guidance for the next report will be much more so.
From TheStreet.com, Nov 19, 2024 7:47 PM EST:
This is what could happen next to Nvidia shares.
We'll know in a little while.
AI-chip colossus Nvidia (NVDA) is scheduled to report fiscal-third-quarter earnings on Nov. 20 and the whole tech world is watching.....
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....Investment firms have been adjusting their price targets for Nvidia ahead of the company's quarterly results.
Truist raised the investment firm's price target on Nvidia to $167 from $148 and maintained a buy rating, according to The Fly.
The firm said that it expected Nvidia to post results above the analyst consensus while also expressing confidence in 2025 owing to a robust backlog.
Nvidia's management commentary will focus on the next drivers of growth after large language models — data processing and physical AI — and Truist is raising its estimates based on higher growth expectations in the data-center end market.
Its fiscal 2024 earnings per share view is up 4 cents to $2.85 and the fiscal 2025 view was raised 49 cents to $4.18, Truist said.
Large language models can perform a variety of tasks, including generating human-like content, analyzing data and improving customer experience.
Stifel raised its price target on Nvidia to $180 from $165 while maintaining a buy rating on the shares.....
....MUCH MORE
For what it's worth the stock has stopped at the $149-and-change level four times since November 7th (all-time high $149.77 on the 8th). If it fails to get through that in tomorrow's after-hours trading, and then hold it on Thursday I would expect hot money to go in search of other trades.
Daily highs:
Nov 14 - $149.00
Nov 13 - $149.33
Nov 12 - $149.65
Nov 08 - $149.77
$147.01 up $6.86 (+4.89%) at today's regular session close, settling at $147.70 up $0.69 after-hours.
If I had to guess, and I'm only a marginally good guesser, I'd say beat-and-raise from the company and 'meh' from the market.The joys of the Keynesian Beauty Contest: trying to figure-out both the report and how the judges respond to the report.
