Nvidia Earnings Preview: Investor Sentiment Bullish Ahead of Report - Investing.com
As the much-anticipated Nvidia earnings report approaches, investor sentiment is largely bullish, according to a recent poll conducted by Investing.com. Our X.com poll received over 3,000 votes, with 41.5% of respondents expecting a stock rise of 8% or more, while 24.9% anticipate a jump of 0.1% to 8%.
However, 13.4% of respondents foresee a slight drop of 0.1% to 8%, and over 20% predict a significant decline of 8% or more. Nvidia is set to release its Q2 earnings after the market closes on Aug. 28, with a focus on data center growth and updates on the Blackwell AI chip launch.
Wall Street analysts estimate Nvidia's revenue to reach $28.84 billion, more than doubling from the same quarter last year, with net income projected to surpass $14.95 billion. The stock has seen remarkable growth this year, rising by approximately 160% and surging by 783% since the end of 2022.
Wednesday's earnings report will be crucial for both institutional and retail investors as Nvidia trades at 47 times forward earnings estimates, with only Tesla having a higher valuation among the "Magnificent Seven." Strong results and optimistic forecasts are needed to support Nvidia's high valuation.
Analysis: Nvidia's upcoming earnings report is highly anticipated, with investor sentiment leaning towards optimism. The company's performance will impact its stock price and overall market trends, making it essential for investors to pay attention to the earnings release and subsequent market reaction.