The AI-mania’s poster child is due to release its earnings after US markets close on Wednesday, May 22nd.This stock is forecasted to then move 8.5% up or down when US markets reopen Thursday, depending on whether Nvidia’s results for the three months ending April 30th excite or disappoint.
Given its sheer size, with a market cap of more than US$ 2.3 trillion, Nvidia’s share price movements are bound to sway broader markets as well.
Keep an eye also on how various stock indices (e.g. US500, NAS100, even the TWN index, etc.) fare in light of this highly-anticipated mid-week earnings.
Events Watchlist:
Wednesday, May 22: Nvidia Q1 FY25 financial results
This US chipmaker’s data center revenue is forecasted to eventually close in on the US$30 billion mark by 2026, which is a gargantuan increase from the US$4.3 billion in Q1 FY24.Stronger-than-expected earnings guidance by Nvidia, despite the US-China chip wars, is bound to see this stock add to its 90% in year-to-date gains so far.Among Wall Street analysts surveyed by Bloomberg, there are 61 “buy” calls, 7 “holds”, and zero “sells”, with a 12-month consensus target price (TP) of $1018.45.That TP could be reached as soon as this week and may need to be revised even higher, depending on what Nvidia conveys to the market this Wednesday.Here’s a comprehensive list of other key economic data and events due this week:Monday, May 20
Tuesday, May 21
Wednesday, May 22
Thursday, May 23
Friday, May 24
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