Nvidia (NVDA.US) will announce its second-quarter results after the close of trading on August 28th, Eastern Time. Wedbush stated that this event may be the "most important" event in the technology industry in years.
Nvidia (NVDA.US) will announce its second-quarter results after the close of trading on August 28th, Eastern Time. Wedbush stated that this event may be the "most important" event in the technology industry in years.
Analyst Dan Ives wrote in an investor report: "As the Federal Reserve and Powell begin to communicate about interest rate cuts, this week the market and the direction of the global economy are focused on Jackson Hole. However, we believe that the most important week for the stock market this year and in the coming years will be next week, as AI pioneer Jensen Huang and Nvidia will announce their financial results."
Regarding the actual financial report, Ives added that Nvidia may once again "lower the microphone performance" because he believes that the company is the "only game on the field" in terms of artificial intelligence and GPUs.
Analysts generally expect the company's revenue for the next quarter to be $28.67 billion, with earnings per share of $0.64.
Ives explained: "During the past few weeks of earnings season, the cloud computing and artificial intelligence data points of Microsoft, Amazon, and Google have been very strong, indicating the formation of large-scale enterprise AI demand."
Ives added that for every $1 spent on Nvidia GPUs, the technology industry can obtain an additional profit of $8 to $10.