Nvidia earnings near ‘drop-the-mic’ moment as investors await ‘massive’ AI demand forecast from CEO Jensen Huang, says tech bull
The upcoming earnings report from NVIDIA Corp. (NASDAQ:NVDA) could be a defining moment for the company, according to a prominent analyst.
What happened: Daniel IvesAnalyst at Wedbush Securitiespredicts that the earnings report scheduled for August 28 will be a significant event for the technology industry.
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Ives stressed that the earnings call will attract the attention of investors worldwide as they await insights from the CEO Jensen Huang on future demand for artificial intelligence chips through 2025.
“When Nvidia releases earnings on August 28, you will hear a pin drop on trading desks around the Street and around the world as investors hear from the Godfather of Artificial Intelligence, Jensen, about the massive demand for AI chips through 2025, which we believe will be another ‘drop the mic’ moment for the technology,” Ives wrote on X on Sunday.
At Nvidia earnings on August 28, you’ll hear a pin drop on trading desks around the Street and around the world as investors hear from the Godfather of AI, Jensen, about the massive demand development for AI chips by 2025, which we believe will be another mic-drop-the-mic moment for the technology 🔥
— Dan Ives (@DivesTech) 12 August 2024
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Why it is important: Nvidia has seen a significant decline in market value, falling $900 billion since its June peak, despite the continued increase in AI spending. Major technology companies like Microsoft Corp. (NASDAQ:MSFT), Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOGL) and Meta Platforms Inc. (NASDAQ:META) has committed to continuing to invest in AI infrastructure, which accounts for over 40% of Nvidia’s revenue.
In addition, the “Magnificent Seven,” the mega-cap stocks including Nvidia, have been at the forefront of market volatility. Although they are 30% below their five-year high, they are still 50% above their five-year low. This group, which includes major players in IT, communications services and electric vehicles, continues to exert significant influence on the market.
See also: Don’t miss the next Nvidia – You can invest in the future of AI for just $10.
In addition, well-known personalities such as the former speaker Nancy Pelosi (Democrats, California) have shown their confidence in Nvidia’s future by purchasing additional shares. Pelosi recently announced that she had purchased additional Nvidia shares while also selling part of her Microsoft stake.
And finally: Early Tech Investor James Anderson has predicted that Nvidia could reach a market cap of nearly $50 trillion within the next decade, driven by growing demand for AI chips. This optimistic forecast has helped Nvidia shares rise 117% year-to-date.
Price promotion: Nvidia stock closed at $104.75 on Friday, down 0.21% on the day. In after-hours trading, the stock was up 0.019%. Year-to-date, Nvidia stock is up an impressive 117.46%, according to data from Benzinga Pro.
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This article “Nvidia Earnings Are About to Hit ‘Drop The Mic’ Moment as Investors Expect ‘Massive’ AI Demand Forecast from CEO Jensen Huang, Tech Bull” originally appeared on Benzinga.com
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