S&P 500 futures gained 1.1%, while those on the Dow Jones Industrial Average were up 0.2%. In Europe, the Stoxx 600 Index rose 0.6%, while the MSCI Asia Pacific Index was up 1.1%. The US dollar slipped, with the Bloomberg Dollar Spot Index edged lower by 0.2%.

“As goes Nvidia, so goes the market,” Kim Forrest, chief investment officer of Bokeh Capital Partners LLC remarked, speaking of Nvidia’s influence over the S&P 500 as well as the broader tech market. “It does confirm the narrative that AI is going to continue to be strong for the foreseeable future. This narrative supported the markets last year, why wouldn’t it do the same this year?”

The post Nasdaq Futures Up 2% Following Blowout Nvidia Earnings appeared first on theprimarymarket.com.

Investors are on edge due to the high expectations held for Nvidia’s earnings, particularly on the back of its artificial intelligence developments. Given Nvidia’s major influence over the market, any disappointment in the report could shift stocks downward at large.

Markets are also bracing for the release of the minutes from the Federal Reserve’s January meeting in an effort to gauge the trajectory of the central bank’s interest rate policy. Currently, investors appear to be gravitating toward the belief that the Fed will introduce interest rate cuts in June; a long way off from previous expectations of a rate cut as early as March.

The post U.S. Futures Fall Ahead Of Nvidia Earnings appeared first on theprimarymarket.com.

Data center revenue for the chipmaker came in at $10.3 billion while its gaming revenue hit $2.5 billion, beating estimates of $8 billion and $2.4 billion respectively. The company released a current quarter revenue guidance of $16 billion, plus or minus 2%, exceeding analysts’ expectations of $12.5 billion.

Nvidia’s recent surge came during the heat of the AI hype, with the chipmaker largely leading the charge. “A new computing era has begun,” CEO Jensen Huang stated following the earnings release. “Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI.”

The post Nvidia Stock Surges Following Quarterly Report appeared first on theprimarymarket.com.

Contracts on the tech-heavy Nasdaq 100 gained 0.4%, while those on the Dow Jones Industrial Average edged just 0.1% higher. Futures on the S&P 500 gained 0.3%. In Europe, the Stoxx 600 index rose by 0.3%, while the MSCI World Index remained little changed.

Markets are predicting that Nvidia will report revenue of $11.05 billion and adjusted earnings per share of $2.07. Beyond Nvidia’s earnings, investors are also bracing themselves ahead of a speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Policy Symposium on Friday.

“The market is in a wait-and-see mode for the main catalysts this week: Nvidia earnings and Jackson Hole,” Ulrich Urbahn, head of multi-asset strategy and research at Berenberg, observed. “Given the strong yield increase since July, the Jackson Hole meeting is of particular interest for investors.”

The post Futures Rise Ahead of Nvidia Results appeared first on theprimarymarket.com.

Nvidia is expected to benefit from increased demands for their chips that were caused by the Artificial Intelligence race. Both high-profile companies and smaller developers are relying on Nvidia chips to power their AI platforms.

In the first quarter, Nvidia blew past analysts’ expectations, reporting $7.2 billion in revenue compared to an estimated $6.5 billion. It also raised its forecast for Q2, saying it expects revenue of $11 billion, while analysts predicted $7.3 billion.

The same outcome is expected in Q2, considering that the company was able to increase its margins thanks to the high demand.

“I anticipate that the results are going to look really outstanding because demand is so high, and that means Nvidia is able to command even higher margins than it would otherwise,” Forrester analyst Glenn O’Donnell told Yahoo Finance.

Most analysts raised the target price for Nvidia’s stock in recent days. UBS analysts have now set the target price from $475 to $540, while Baird’s analysts went even further, increasing the target price to $570 compared to the previous $475.

Nvidia’s stock opened at $404.98 per share on Monday morning but has climbed all the way to $439.04 through Wednesday. The company’s shares are 206.70% up year-to-date.

The post Nvidia Stock Continues to Climb As Q2 Earnings Are Expected to Outperform Estimates appeared first on theprimarymarket.com.

The S&P 500 edged 0.88% higher, while the tech-heavy Nasdaq Composite index spiked 1.71%. In contrast, the Dow Jones Industrial Average ended the day’s trading 0.11% lower.

Nvidia, which has catapulted into a poll position in the artificial intelligence race, released an $11 billion second-quarter revenue projection, significantly exceeding analysts’ $7.2 billion projection as released by Bloomberg. Nvidia’s rally was followed by fellow AI-heavy stocks Alphabet and Microsoft, whose shares advanced approximately 2% and 4% respectively.

“In 22 years of covering tech stocks and large-cap we have never seen a guidance range of this magnitude on a large cap tech name,” Wedbush managing director Dan Ives observed. “And thus speaks to our thesis that the monetization of AI for stalwarts like Microsoft, Alphabet, Amazon, Oracle, Meta, Apple, and Salesforce is well underway.”

The newfound tech rally helped to subdue investor concerns regarding the stalling U.S. debt ceiling talks. Also on investors’ and economists’ radars were the quarterly GDP reading, which showed 1.3% U.S. economic growth in Q1, and the weekly jobless claims report, which showed a lower-than-expected 229,000 claims filed for the period.

The post Nvidia Stock Drives Tech Rally on Thursday appeared first on theprimarymarket.com.

Nvidia’s $6.7 billion Q2 revenue matched the $6.7 billion expected, but its adjusted earnings per share missed on $0.53 estimated and came to $0.51. The Santa Clara, California-based company also had a net income of $656 million, representing a 72% year-over-year decrease.

For the third quarter of the year, Nvidia predicts that it will bring in $5.9 billion in revenue, falling $1 billion short of the $6.9 billion predicted by analysts. The biggest reason for Nvidia’s poor results and bleak expectations has been slumping sales in the gaming department. With the pandemic no longer keeping people inside the house, there are fewer reasons to invest in expensive gaming equipment, which directly impacts the chipmakers.

Nvidia shares closed at $172.22 on Wednesday, which represents a 42.2% drop year-to-date. After the Q2 results came out, the stock came down even further, trading for $164.40 in the after-hours market.

“We are navigating our supply chain transitions in a challenging macro environment, and we will get through this,” said Nvidia founder and CEO Jensen Huang in a statement.

The post Nvidia Stock Dips After Earnings Miss Wall Street Estimates appeared first on theprimarymarket.com.

S&P 500 futures gained 1.1%, while those on the Dow Jones Industrial Average were up 0.2%. In Europe, the Stoxx 600 Index rose 0.6%, while the MSCI Asia Pacific Index was up 1.1%. The US dollar slipped, with the Bloomberg Dollar Spot Index edged lower by 0.2%.

“As goes Nvidia, so goes the market,” Kim Forrest, chief investment officer of Bokeh Capital Partners LLC remarked, speaking of Nvidia’s influence over the S&P 500 as well as the broader tech market. “It does confirm the narrative that AI is going to continue to be strong for the foreseeable future. This narrative supported the markets last year, why wouldn’t it do the same this year?”

The post Nasdaq Futures Up 2% Following Blowout Nvidia Earnings appeared first on theprimarymarket.com.

Investors are on edge due to the high expectations held for Nvidia’s earnings, particularly on the back of its artificial intelligence developments. Given Nvidia’s major influence over the market, any disappointment in the report could shift stocks downward at large.

Markets are also bracing for the release of the minutes from the Federal Reserve’s January meeting in an effort to gauge the trajectory of the central bank’s interest rate policy. Currently, investors appear to be gravitating toward the belief that the Fed will introduce interest rate cuts in June; a long way off from previous expectations of a rate cut as early as March.

The post U.S. Futures Fall Ahead Of Nvidia Earnings appeared first on theprimarymarket.com.

Data center revenue for the chipmaker came in at $10.3 billion while its gaming revenue hit $2.5 billion, beating estimates of $8 billion and $2.4 billion respectively. The company released a current quarter revenue guidance of $16 billion, plus or minus 2%, exceeding analysts’ expectations of $12.5 billion.

Nvidia’s recent surge came during the heat of the AI hype, with the chipmaker largely leading the charge. “A new computing era has begun,” CEO Jensen Huang stated following the earnings release. “Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI.”

The post Nvidia Stock Surges Following Quarterly Report appeared first on theprimarymarket.com.

Contracts on the tech-heavy Nasdaq 100 gained 0.4%, while those on the Dow Jones Industrial Average edged just 0.1% higher. Futures on the S&P 500 gained 0.3%. In Europe, the Stoxx 600 index rose by 0.3%, while the MSCI World Index remained little changed.

Markets are predicting that Nvidia will report revenue of $11.05 billion and adjusted earnings per share of $2.07. Beyond Nvidia’s earnings, investors are also bracing themselves ahead of a speech by Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Policy Symposium on Friday.

“The market is in a wait-and-see mode for the main catalysts this week: Nvidia earnings and Jackson Hole,” Ulrich Urbahn, head of multi-asset strategy and research at Berenberg, observed. “Given the strong yield increase since July, the Jackson Hole meeting is of particular interest for investors.”

The post Futures Rise Ahead of Nvidia Results appeared first on theprimarymarket.com.

Nvidia is expected to benefit from increased demands for their chips that were caused by the Artificial Intelligence race. Both high-profile companies and smaller developers are relying on Nvidia chips to power their AI platforms.

In the first quarter, Nvidia blew past analysts’ expectations, reporting $7.2 billion in revenue compared to an estimated $6.5 billion. It also raised its forecast for Q2, saying it expects revenue of $11 billion, while analysts predicted $7.3 billion.

The same outcome is expected in Q2, considering that the company was able to increase its margins thanks to the high demand.

“I anticipate that the results are going to look really outstanding because demand is so high, and that means Nvidia is able to command even higher margins than it would otherwise,” Forrester analyst Glenn O’Donnell told Yahoo Finance.

Most analysts raised the target price for Nvidia’s stock in recent days. UBS analysts have now set the target price from $475 to $540, while Baird’s analysts went even further, increasing the target price to $570 compared to the previous $475.

Nvidia’s stock opened at $404.98 per share on Monday morning but has climbed all the way to $439.04 through Wednesday. The company’s shares are 206.70% up year-to-date.

The post Nvidia Stock Continues to Climb As Q2 Earnings Are Expected to Outperform Estimates appeared first on theprimarymarket.com.

The S&P 500 edged 0.88% higher, while the tech-heavy Nasdaq Composite index spiked 1.71%. In contrast, the Dow Jones Industrial Average ended the day’s trading 0.11% lower.

Nvidia, which has catapulted into a poll position in the artificial intelligence race, released an $11 billion second-quarter revenue projection, significantly exceeding analysts’ $7.2 billion projection as released by Bloomberg. Nvidia’s rally was followed by fellow AI-heavy stocks Alphabet and Microsoft, whose shares advanced approximately 2% and 4% respectively.

“In 22 years of covering tech stocks and large-cap we have never seen a guidance range of this magnitude on a large cap tech name,” Wedbush managing director Dan Ives observed. “And thus speaks to our thesis that the monetization of AI for stalwarts like Microsoft, Alphabet, Amazon, Oracle, Meta, Apple, and Salesforce is well underway.”

The newfound tech rally helped to subdue investor concerns regarding the stalling U.S. debt ceiling talks. Also on investors’ and economists’ radars were the quarterly GDP reading, which showed 1.3% U.S. economic growth in Q1, and the weekly jobless claims report, which showed a lower-than-expected 229,000 claims filed for the period.

The post Nvidia Stock Drives Tech Rally on Thursday appeared first on theprimarymarket.com.

Nvidia’s $6.7 billion Q2 revenue matched the $6.7 billion expected, but its adjusted earnings per share missed on $0.53 estimated and came to $0.51. The Santa Clara, California-based company also had a net income of $656 million, representing a 72% year-over-year decrease.

For the third quarter of the year, Nvidia predicts that it will bring in $5.9 billion in revenue, falling $1 billion short of the $6.9 billion predicted by analysts. The biggest reason for Nvidia’s poor results and bleak expectations has been slumping sales in the gaming department. With the pandemic no longer keeping people inside the house, there are fewer reasons to invest in expensive gaming equipment, which directly impacts the chipmakers.

Nvidia shares closed at $172.22 on Wednesday, which represents a 42.2% drop year-to-date. After the Q2 results came out, the stock came down even further, trading for $164.40 in the after-hours market.

“We are navigating our supply chain transitions in a challenging macro environment, and we will get through this,” said Nvidia founder and CEO Jensen Huang in a statement.

The post Nvidia Stock Dips After Earnings Miss Wall Street Estimates appeared first on theprimarymarket.com.