NVIDIA Stock Primed for Massive Swing by Friday
Analysts Expect Strong Earnings, Revenue Growth
Key Takeaways:
- NVIDIA options primed for an 87% swing by Friday.
- Analysts predict revenue growth of 23.75% to $24.27 billion.
- Earnings per share expected to surge 47.4% to $0.522.
As of May 21, 2024, 4:00 PM, NVIDIA's options are positioned for a significant move in either direction by Friday, according to options analytics firm Trade Alert. This anticipation is driven by the upcoming release of the company's fiscal Q1 earnings report, which is expected to reveal robust financial performance.
Analysts are projecting NVIDIA to generate revenues of $24.5 billion in the quarter that ended in April, marking a 23.75% increase from the same period last year. Additionally, they anticipate earnings per share to soar by 47.4%, reaching $0.522.
These projections are based on several factors, including strong demand for NVIDIA's products across various industries such as gaming, data centers, and artificial intelligence. The company's dominance in the AI sector is particularly noteworthy, with its advanced GPUs being widely used for training and deploying AI models.
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