Today's most anticipated event is the Q2 2024 earnings report - NVIDIA! (what do you need to know?)
NVIDIA is the most important company on the semiconductor side, being in the top 10 companies in the SP500 - in 2nd place.
NVIDIA's reporting will also set the tone for risk markets most likely - the crypto market (which is currently in the red) may be negatively influenced by a below-expected report.
â opinions are divided here, a slightly below-expectation report might not be seen as negative in the medium term as NVIDIA has grown enormously this year in both price and earnings.
NVIDIA rose from 11$ to 138$ in less than 2 years from a low of October 10, 2022 to a high of June 17, 2024.
Reporting:
âą For this quarter, NVIDIA is expected to report adjusted earnings per share (EPS) of $0.60 on revenue of $28.7 billion. That's a 139% increase in EPS and a 113% increase in revenue compared to the same period a year ago, when Nvidia posted EPS of $0.25 and revenue of $13.5 billion.
âą Bears, however, point to reported delays in its next line of AI chips â called Blackwell processors â as a sign that something is amiss. These chips are supposed to be faster and cheaper, but there have been reports that they are being delayed due to design flaws. Investors and analysts will be paying close attention to what NVIDIA has to say about this when it reports earnings.
Conclusion:
âą These are the most anticipated results of the quarter across the technology sector as investors look for signs that artificial intelligence will continue to grow into the end of the year.
