Sunday, June 16, 2024

Nvidia’s upcoming earnings has investors attention: See what SA analysts have to say

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Wall Street has its eyes locked on Nvidia’s (NASDAQ:NVDA) earnings report, which is set to be delivered after the closing bell on Wednesday. This week, investors have seen muted moves throughout the benchmark averages as attention has been put upon the latest earnings figures of one of the market’s most pivotal artificial intelligence driven companies.

As a result, investors are jockeying for positions that could spark a further market rally to new highs or potentially see a downward catalyst on an earnings miss. Either way, Nvidia’s earnings report will send ripples throughout the entire financial market. See what some of Seeking Alpha’s analysts have to say about the upcoming report.

Mott Capital Management in Nvidia’s Earnings May Not Determine Where The Stock Goes Next outlined: “The market is pricing a post-earnings move of about 8.5%, with implied volatility suggesting a preference for owning upside options in Nvidia.”

Dividend Sensei in 3 Reasons I Bought Nvidia Before Earnings said: “Nvidia’s earnings report is expected to beat expectations, and the company is expected to raise guidance, potentially leading to a big rise in stock price… The demand for Nvidia’s chips is insatiable, with the company expected to consume half of TSMC’s advanced chip packaging capacity.”

Ivan Martchev in The Big Nvidia News Arrives Tomorrow noted: “The Big Nvidia News ArrivI don’t know which way things will go ahead of time – nor does anybody else – but a weakish or flat market before the report, like we had three months ago, would suggest a large move to the upside on good earnings, while a further surge in the broad market into the report makes any market move more suspect.es Tomorrow.”

Justin Ward in Nvidia Earnings: Bulls Have Fingers On The Trigger (Technical Analysis) said: “The company maintains a dominant market share in the GPU sector and has contributed as a frontrunner to advancements in AI technology while consistently providing the market with earnings beats over the last twelve months… With latest earnings just over a week away, will this be the catalyst that launches Wall Street’s darling towards the $1600 region.”

While Nvidia is in focus, it is not the only financial instrument that will be monitored. Currently, shares of Nvidia are held in a total of 501 exchange traded funds. Outlined below are the five ETFs that hold the heaviest percentage allocation in Nvidia (the list excludes single stock focused and leveraged funds):

  • Strive U.S. Semiconductor ETF (SHOC): 27.29% allocation.
  • AXS Esoterica NextG Economy ETF (WUGI): 27.06% allocation.
  • VanEck Semiconductor ETF (SMH): 20.80% allocation.
  • Grizzle Growth ETF (DARP): 19.95% allocation.
  • American Century Focused Dynamic Growth ETF (FDG): 14.86% allocation.

Data is per ETF.com.

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