AI Trend Decider - NVDA Earnings
As we all know, the AI madness since last year was mainly led by the key leader in AI sector, whicch was undoubtly NVIDIA!
Earnings release
Nvidia reports its fiscal fourth-quarter earnings Wednesday after the bell.
It's the company's first quarterly earnings report after Nvidia's market cap surpassed Alphabet and Amazon. Let's see whether the company stock price can sustain the rally and undergo a significant correction.
Stimulus
Nvidia's stock price has soared fivefold since the end of 2022, as demand has skyrocketed for its graphics processing units that sit at the heart of the artificial intelligence boom. Nvidia's chips, such as the H100, are used by AI developers to create cutting-edge models like the ones OpenAI used to develop ChatGPT.
Key decider
I think in this Wednesday, Wall Street will be listening closely to commentary from Nvidia CEO Jensen Huang for an indication of how long these stratospheric growth rates are expected to last. Any slow down in demand will cause the share price to plunge.
By looking at the technical chart, really a crazy rally for NVIDIA, I think the incoming earnings will still be great, it might be close to the peak but I believe the big growth will continue for at least 1 or 2 more quarters. Therefore, I am still $NVIDIA Corp(NVDA)$
Not to forget another AI member which is $Palantir Technologies Inc.(PLTR)$
Nutshell
Last but not least, as NVIDIA overtakes the market value of these 2 giant companies, I believe some investors might switch their focus and position to NVIDIA, causing selling pressure for $Alphabet(GOOG)$
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How do you think and don't hesitate to leave your opinions below!
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