From Nasdaq: 2024-11-18 04:05:00

The S&P 500 is on track for a 25% increase this year, with Nvidia leading the charge in the AI chip market with an 80% share. Nvidia’s upcoming earnings report on Nov. 20 has investors hopeful, despite a nearly 200% climb this year. The launch of its new Blackwell architecture could signal a transition for the company.

Nvidia’s GPUs are highly sought after, with record revenue driven by its data center business. The upcoming earnings report may show a lower growth figure as the company prepares for the production ramp of Blackwell in the fourth quarter. While some investors may be cautious, positive comments from CEO Jensen Huang, Larry Ellison, and Elon Musk suggest a potential stock surge.

Investors are optimistic about Nvidia’s earnings report, citing the company’s track record of surpassing expectations. Demand for Nvidia’s products remains strong, with high-profile customers like Oracle and Tesla seeking more GPUs. Taiwan Semiconductor Manufacturing reported double-digit revenue growth, indicating a positive outlook for Nvidia.

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Author Adria Cimino has positions in Oracle and Tesla, while The Motley Fool has positions in and recommends Nvidia, Oracle, Taiwan Semiconductor Manufacturing, and Tesla. The views expressed are the author’s own and do not necessarily reflect those of Nasdaq, Inc.



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