From Nasdaq: 2024-05-17 19:56:00

Investors are eagerly awaiting Nvidia’s Q1 earnings next week, as strong inflationary data has boosted market indexes. Analysts predict a 400% rise in EPS to $5.52, with sales projected to increase 237% to $24.27 billion. Wall Street is also eyeing updates on Nvidia’s Blackwell GPU series and its competitive pricing.

Nvidia has consistently beaten earnings estimates and is expected to continue this trend in Q1. The company’s stock is currently trading at a forward earnings multiple of 39.4X, a significant discount from its five-year high. With a Zacks Rank #1 (Strong Buy), Nvidia’s stock is a promising pick ahead of its Q1 report.

Research experts have identified a top stock poised to double in the near future. This company targets younger audiences and generated nearly $1 billion in revenue last quarter alone. With the current pullback in stock price, now may be an opportune time to invest. This pick has the potential to outperform previous explosive stocks like Nano-X Imaging.



Read more at Nasdaq: Time to Buy Nvidia’s Stock as Q1 Earnings Approach Next Week?