From Nasdaq: 2024-11-19 16:04:00

Nvidia will release Q3 results on November 20, with high expectations following its recent market cap surpassing Apple at over $3 billion. Sales are expected to increase 82% to $33.1 billion, with EPS soaring 85% to $0.74. Nvidia has beaten earnings estimates for seven straight quarters and surpassed revenue estimates for 22 consecutive quarters.

Year to date, Nvidia’s stock is up nearly +200%, outperforming Meta Platforms and Tesla. At around $144 a share, NVDA trades at 49.4X forward earnings, higher than the S&P 500’s 24.9X but below its decade-long median of 44.3X. Nvidia’s EPS estimates show potential for further growth in FY25 and FY26.

Nvidia’s stock is a Zacks Rank #1 (Strong Buy) with positive earnings estimate revisions. Annual earnings are projected to increase 118% in FY25 to $2.84 per share and 38% in FY26 to $3.92. If Nvidia can meet or exceed Q3 expectations and offer favorable guidance, the stock could see another uptrend.



Read more at Nasdaq: Buy Nvidia’s Stock for Another Leg Higher as Q3 Earnings Approach?