NVIDIACorp.(NASDAQ:NVDA)issettobecomethecentralplayerintheartificialintelligenceecosystem,similartoAmazon.comInc.(NASDAQ:AMZN)ine-commerce,accordingtoKevinMahn,CIOofHennion&Walsh.
WhatHappened:MahnanticipatesNvidiawillsurpassexpectationswhenitreportsitssecond-quarterearningsonWednesday.MahnpredictssignificantgrowthinNvidia'sdatacenterbusiness.HesharedthisperspectiveinaninterviewwithYahooFinanceonTuesday.
"NvidiaispositioningthemselvestobethehuboftheAIecosysteminasimilarfashionthatAmazonbecamethehubofthee-commerceecosystem,Mahnsaid.
Additionally,MahnhighlightedotherstockoptionsbeyondNvidia,includingDigitalRealtyTrustInc.(NYSE:DLR),ModineManufacturingCo.(NYSE:MOD),andBroadcomInc.(NASDAQ:AVGO).
WhyItMatters:Nvidia'supcomingearningsreportishighlyanticipated,withanalystsexpectingthecompanytoreportsecond-quarterrevenueof$28.68billion,accordingtoBenzingaPro.Thismarksasignificantincreasefromthe$13.5billionreportedinthesamequarterlastyear.Nvidiahasconsistentlybeatenrevenueestimatesinsevenofthelasteightquarters.
TechnicalindicatorsalsoshowbullishmomentumforNvidiastockaheadoftheearningsreport.Thestockhassurgedapproximately170%overthepastyearandabout163%year-to-date.
However,GeneMunster,managingpartneratDeepwaterAssetManagement,cautionsthatNvidia's"hyperfocused"investorsmighttriggeranegativestocktrendpost-earnings.Despitetherecent30%surgeandproximitytoall-timehighs,Munsterforeseespotentialshort-termsetbacksduetoongoingdemand-supplyimbalancesandpossibledelaysintheBlackwellproject.
Ontheflipside,CarterBraxtonWorth,founderofWorthChartingLLC,remainsbullishonNvidia.Hesuggeststhatinvestorsshouldconsideralong-termstrategyforthestock,especiallyaroundtheearningsperiod.Worthemphasizedthattechnicalindicatorspointtowardsacontinuedupwardtrajectoryforthecompany.
PriceAction:Nvidia'sstockclosedat$128.30onTuesday,up1.46%.Inafter-hourstrading,thestockslightlydippedby0.46%.Yeartodate,NVIDIA'sstockhassurgedbyanimpressive166.35%,accordingtodatafromBenzingaPro.
TopNvidiaAnalystSeesNoMajorImpactFromBlackwellDelay,ButFlagsOneCaveatHe'sWaryAboutAheadOfEarnings
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ThisstorywasgeneratedusingBenzingaNeuroandeditedbyKaustubhBagalkote
