Nvidia shares are trading around 1.7% higher on Tuesday (as of 10:20 am ET) after a pullback last week.
Analysts at Barclays (LON:BARC) said in a note that the upcoming release from the semiconductor giant’s earnings release “will be the most important catalyst left for the remainder of the year, notable, more so than NFP, CPI, and FOMC.”
So, Investing.com is asking whether investors will buy the news or sell the news following the earnings release.
What Will Investors Do Wednesday Evening Following Nvidia’s Q3 Earnings Report?
Wedbush is, as expected, bullish ahead of the release, stating they expect “another ‘drop the mic’ report” from the company, describing it as the “foundation for the AI revolution.”
“In a nutshell, we expect another drop the mic performance from Nvidia tomorrow after the bell as right now Jensen & Co. are the only game in town with $1 trillion+ of AI Cap-Ex on the way for the next few years with Nvidia’s GPUs the new oil and gold in this world,” said the firm.
“The bulls need to see enterprise demand on AI carry the torch to move this market higher into year-end and 2025 led by tech and it all starts with Nvidia,” they added. “We believe another $2 billion beat and $2 billion quarter guide higher is the recipe for success that the Street wants to see from Jensen & Co.”
The firm continues to estimate that for every $1 spent on an Nvidia GPU chip, there is an $8 to $10 multiplier across the tech sector. They said this speaks to their firmly bullish view of tech stocks for 2025.
This article was originally published here.
