Nvidia's Earnings Tonight Is Critical!
๐๐๐There is only one word to describe $NVIDIA Corp(NVDA)$
It is Critical because Nvidia has become the litmus test for the staying power of AI boom.
Any indication of its chips demand that it is waning or if a leading cloud customer is tightening its belt potentially translates into significant revenue slippage.
All eyes are on Jensen Huang, CEO of Nvidia this evening as he will present Nvidia's Q2 24 earnings report. Dan Ives of Wedbush Securities called Nvidia's upcoming report nothing less than "the most important tech earnings in years".
Nvidia has been such an amazing company. On August 1 Nvidia added a record USD 329 billion in value, obliterating the single day record that it has repeatedly set in the past few months.
Nvidia even briefly surpassed $Microsoft(MSFT)$ as the world's most valuable company with a market cap of USD 3.326 in June, driven by demand for its AI chips.
Nvidia's rise is among the fastest in market history. Just 2 years ago, Nvidia's market valuation was a little over USD 400 billion. Now within 1 year, Nvidua has gone from USD 1 Trillion to more than USD 3 Trillion.
I have a vested interest in Nvidia's performance too as I believe that it is the front runner in the AI revolution. It has been 2 months since I have started investing in Nvidia. In that time I have seen it rise over USD 130 and dropped to below USD 100.
A lot is at stake in this all important Nvidia's Q2 Earnings report. As a Mega Tech Stock, the outcome of its earnings, Jensen Huang 's outlook on its future, would affect the S&P500 Index as well as Nasdaq100, as well as other AI related stocks.
So CRITICAL is the word I would use to describe Nvidia's Earnings tonight!
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- peppywooยท08-29Awesome analysis! Nvidia's earnings tonight will definitely have a huge impact! [Surprised][Smart]LikeReport
- fizzlooยท08-29PossibleLikeReport