It’s true that Nvidia’s preliminary financial results forecasted a disappointing outlook. What exactly should investors be looking for from the Nvidia earnings report? Let’s take a closer look. “Therefore, many traders will watch closely as it releases its quarterly earnings and forward guidance.” “Among graphics card and microprocessor makers, Nvidia is one of the most respected companies,” he notes. InvestorPlace contributor David Moadel has issued a $300 price target for NVDA stock, citing low expectations as an excellent reason to buy now. These Wall Street experts aren’t the only ones.
That makes this an opportune time to load up on shares.Ģ5 analysts on TipRanks rate NVDA as a “strong buy” and none have issued “sell” ratings. But many experts still remain bullish on NVDA stock, predicting a turnaround in the months ahead. Early in the month, in a preliminary release, the company announced weaker-than-expected revenue for the quarter.įollowing that news, Nvidia already has a dark shadow over it as it prepares to report earnings. The combination of bearish sentiment toward tech stocks combined with macroeconomic headwinds has made for a difficult industry landscape. While shares are up more than 5% for the month, they are still down more than 26% for the past six. But as broad market forces intersected with supply chain constraints, NVDA stock embarked on a downward trajectory and it hasn’t stopped. The Silicon-valley semiconductor designer provided a shot to fame amid the metaverse boom of 2021-early 2022. This list includes Zoom (NASDAQ: ZM) and Snowflake (NYSE: SNOW) but many eyes are already on Nvidia (NASDAQ: NVDA), which reports on Aug. Many prominent tech stocks will report earnings this week.
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