Thiel Sells NVIDIA Stake
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Nvidia, US and stock market
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Morgan Stanley’s Joseph Moore just bumped his price target on Nvidia stock to $220 (a 15.8% increase from current prices), calling the AI behemoth to post its strongest quarter in some time. Throw in Mr. Market’s expectations for top-and-bottom-line numbers to surge over 50% year over year, and the setup looks remarkably optimistic.
Nvidia's third-quarter earnings will be the main event, but bellwether retailers will also report. September jobs data will be published on Thursday.
For Q3, analysts are anticipating adjusted earnings per share (EPS) of $1.26 on revenue of $55.2 billion, according to Bloomberg consensus data. That would represent increases of 55% and 57% increase versus the $0.81 EPS and $35.1 billion the company reported in the same period last year.
The price call is a bet that Blackwell and Rubin pipelines keep revenue climbing, even as competition tightens.
It’s been a very strong quarter for big tech earnings, but that meant much for the share prices of the season’s earnings beaters. With Nvidia (NASDAQ:NVDA) poised to pull the curtain on its results, wrapping up what’s been a hot,
Chris Brigati from SWBC says Nvidia is still a good investment despite recent concerns about its high valuation.
Nvidia's earnings event is just days away and Wall Street is zeroed in on the AI bellwether's third-quarter results.
Skeptics have questioned whether tech companies are expensing the cost of their Nvidia GPUs over too long a period. That would tend to boost earnings.