Nvidia Stock Poised For Major $298B Market Jolt As Q2 Earnings Loom, Says Goldman Sachs: “Can You Imagine If NVDA Beats Expectations?”

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Nvidia Stock Poised For Major $298B Market Jolt As Q2 Earnings Loom, Says Goldman Sachs: “Can You Imagine If NVDA Beats Expectations?”

Benzinga08-28

Investors are closely watching NVIDIA Corp as it prepares to release itssecond-quarter earnings report on Wednesday, which could result in a significant market value fluctuation.What Happened: Nvidia...

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This potential swing is based on the company’s $3.17 trillion market capitalization.Scott Rubner, managing director at Goldman Sachs noted that “the bar for Nvidia this earnings season is a lot lower than it has been in recent quarters,” due to fundamental selling in the tech sector. Nvidia holds the record for the biggest one-day market value swing at $330 billion, which occurred in late July.According to the bank, if Nvidia reports strong growth and forward guidance, it could surprise the stock market and lead to a significant move. “Can you imagine if NVDA beats expectations on Wednesday?” asked Rubner.Interactive Brokers strategist Steve Sosnick emphasized Nvidia’s integral role in the market, noting that more than 70% of the 25 most active trades on their platform have a connection to Nvidia. Sosnick stated, “We’ve gotten quite used to seeing NVDA atop the leaderboard most weeks, cementing its key role in investor psychology.”Why It Matters: Nvidia’s upcoming earnings report is crucial for several reasons. Analysts expect the company to report second-quarter revenue of $28.68 billion, a significant increase from $13.5 billion in the same quarter last year. Nvidia has consistently beaten revenue estimates in seven of the last eight quarters, showcasing its strong performance.Moreover, Nvidia is positioning itself as a central player in the AI ecosystem, akin to  Amazon.com  in e-commerce. Kevin Mahn, CIO of Hennion & Walsh, anticipates that Nvidia will surpass expectations, especially in its data center business, further solidifying its dominance in the AI sector.However, some experts caution that Nvidia’s stock might face short-term setbacks. Gene Munster, managing partner at Deepwater Asset Management, points to potential supply-demand imbalances and delays in the Blackwell project, which could negatively impact investor sentiment despite the company’s long-term growth prospects.Technical analyst Carter Braxton Worth remains bullish on Nvidia, advising investors to adopt a long-term strategy around the earnings period. He believes the company’s stock will continue its upward trajectory based on technical indicators.Price Action: Nvidia's stock closed at $128.30 on Tuesday, up 1.46%. In after-hours trading, the stock slightly dipped by 0.46%. Year to date, NVDA has surged by an impressive 166.35%, according to data from Benzinga Pro.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":8,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}