Investing in Nvidia (NVDA): AI Predictions and Market Impact Post Q3 Earnings

Nvidia (NVDA) Earnings Report Anticipation

With Nvidia (NASDAQ: NVDA) set to announce its Q3 2024 earnings on November 20, an artificial intelligence (AI) tool has shared insights on how the company's share price might respond following this critical announcement.

Current Stock Performance

After hitting a high of almost $150, Nvidia's stock has experienced some volatility. As of the close of the last trading session, NVDA was valued at $146.27, down 1.36%. Leading into the trading session on November 14, NVDA showed minor recovery, increasing nearly 0.7%.

Q3 Expectations and Predictions

This quarter carries high expectations as Nvidia showcases its position in the AI space. Analysts expect revenue of approximately $32.5 billion and gross profit margins around 75%. Earnings per share are estimated at $0.74.

According to AI predictions, should Nvidia meet or exceed expectations, the stock could surpass $150. However, failing to meet profit estimates might see prices drop to between $131 and $139.

Expert Analysis and Market Sentiment

• Mizuho raised its share price target from $140 to $165, citing optimism over AI and data center markets.
• According to Morgan Stanley, targets have also adjusted upward from $150 to $160, though concerns about supply chain constraints linger.
• Piper Sandler expects Nvidia could reach $175 despite supply chain challenges.

Nvidia's upcoming Q3 earnings will be significant in shaping its stock trajectory, balancing its AI growth plans against potential supply chain constraints.