NVDA Stock: 3 Key Things to Watch When Nvidia Reports Earnings
Many prominent tech stocks will report earnings this week. This list includes Zoom (NYSE: ZM ) and Snowflake (NYSE: SNOW ) but many eyes are already on Nvidia (NASDAQ: NVDA ), which reports on Aug. 23. The Silicon-valley semiconductor designer provided a shot to fame amid the metaverse boom of 2021-early 2022. But as broad market forces intersected with supply chain constraints, NVDA stock embarked on a downward trajectory and it hasn’t stopped. While shares are up more than 5% for the month, they are still down more than 26% for the past six. The combination of bearish sentiment toward tech stocks combined with macroeconomic headwinds has made for a difficult industry landscape. Early in the month, in a preliminary release, the company announced weaker-than-expected revenue for the quarter. Following that news, Nvidia already has a dark shadow over it as it prepares to report earnings. But many experts still remain bullish on NVDA stock, predicting a turnaround in the months ahead. That makes this an opportune time to load up on shares. 25 analysts on TipRanks rate NVDA as a “strong buy” and none have issued “sell” ratings.
NVDA Stock: 3 Key Things to Watch When Nvidia Reports Earnings
Many prominent tech stocks will report earnings this week. This list includes Zoom (NYSE: ZM ) and Snowflake (NYSE: SNOW ) but many eyes are already on Nvidia (NASDAQ: NVDA ), which reports on Aug. 23. The Silicon-valley semiconductor designer provided a shot to fame amid the metaverse boom of 2021-early 2022. But as broad market forces intersected with supply chain constraints, NVDA stock embarked on a downward trajectory and it hasn’t stopped. While shares are up more than 5% for the month, they are still down more than 26% for the past six. The combination of bearish sentiment toward tech stocks combined with macroeconomic headwinds has made for a difficult industry landscape. Early in the month, in a preliminary release, the company announced weaker-than-expected revenue for the quarter. Following that news, Nvidia already has a dark shadow over it as it prepares to report earnings. But many experts still remain bullish on NVDA stock, predicting a turnaround in the months ahead. That makes this an opportune time to load up on shares. 25 analysts on TipRanks rate NVDA as a “strong buy” and none have issued “sell” ratings.