Palantir, NVIDIA stocks slip
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The Chinese impact on Nvidia is significant. KeyBanc raised its Q2 revenue estimate to $47.1 billion from $45.1 billion, above Wall Street’s consensus of $45.7 billion. It raised earnings per share to $1.05 from $0.99, slightly above consensus of $1.00.
The stock has gone on a parabolic run since hitting a 52-week low in April this year, and it seems primed for more upside following its upcoming earnings report.
Nvidia remains the dominant AI chipmaker in the market, but where is the stock headed for the rest of this year and into the next?
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Why one analyst thinks Nvidia could double its market cap to $9 trillion by the end of the decade
Nvidia's annual revenue could hit $600 billion by 2030, Melius Research said. The firm's Ben Reitzes says that implies a potential $9 trillion valuation.
Nvidia ( NVDA) may be the market's biggest AI stock, but institutional investors are still shying away. "NVDA is now the most under-owned large-cap tech stock," Morgan Stanley analyst Erik Woodring wrote in a note.
A Pivotal Moment for Nvidia As the summer earnings season winds down, Big Tech giants like Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META), Amazon (NASDAQ:AMZN), and Alphabet (NASDAQ:GOOG)(NASDAQ:GOOGL) have delivered robust quarterly results,
While most of AI's power players have already reported, the ultimate industry bellwether, Nvidia ( NVDA 0.94%), has yet to step up to the plate. The semiconductor giant is scheduled to announce results on Aug. 27, and expectations could not be higher.
Should you Buy Or Fear Nvidia stock? For event-driven traders, historical trends might provide an advantage, whether by positioning prior to earnings or responding to post-release movements. That said,
Just because it's already the biggest company in the world by market cap doesn't mean the GPU leader doesn't have a lot of room to grow.
FieldAI, a robotics startup backed by Bill Gates' venture capital firm, has raised $405 million in two funding rounds with investors that include Nvidia's venture capital wing and Jeff Bezos' private investment office.
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