S&P 500 futures have staged a ~1.5% reversal after the market's reaction to Nvidia, $NVDA, earnings.
Since 3:00 PM ET, the S&P 500 has added $600 BILLION of value and Nvidia is itself is responsible for ~$220 BILLION of the value being added. In other words, more than ONE THIRD of the S&P 500's value added since 3:00 PM ET came from Nvidia. Nvidia is now just ~20% smaller than the entire combined value of Germany's stock market.... Source: The Kobeissi Letter
Nvdia results are out - $NVDA beats in revenue & earnings - the stock is up more than 8% after hours.
"Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations." – Co-founder & CEO, Jensen Huang Nvidia reported fourth fiscal quarter earnings that beat Wall Street’s forecast for earnings and sales, and said that revenue during the current quarter would be better than expected, even against elevated expectations for massive growth. Revenue +265% *Data Center +409% *Gaming +56% *Professional Vis. +105% *Automotive -4% EBIT +983% *marg. 62% (21) EPS +765% Source: Quartr
nvidia $NVDA EPS growth projections (grey) aren't modest...
Source: TME, Bloomberg
Nvidia options signal nearly $200bn swing after earnings.
Prices for short-term calls and puts imply a 10.6% move in the chipmaker’s shares on Thursday. Source: Bloomberg, HolgerZ
Nvidia : Place Your Bets
Nvidia is expected to report earnings Today after market close. Wall Street consensus for adjusted Q4 EPS is $4.60 a share, up more than 700% from 65 cents a year ago. Q4 revenue is expected to be $20.43 billion. A miss in earnings or lower forward guidance is likely to cause a wave of profit taking in the technology sector and drag the broader market with it. A stronger than expected report could add fuel to upward momentum and draw in more investors who are already experiencing some degree of FOMO from the stock’s dazzling performance. Nvidia stock price is up 46.6% so far in 2024, adding to its 238% gain in 2023. Source : forbes
Get prepared for NVDA earnings ...
First support around 667 (21 day moving). Then 630 and after that the 50 day down around 575. But it could also be a new all-time-highs Source: Refinitiv, TME
Nvidia $NVDA and Super Micro $SMCI accounted for more than $4 of every $10 traded among the top 10 most traded companies on Friday.
Source: Bloomberg, Beth Kindig
Nvidia’s $NVDA February rally to the $720+ range has taken the stock above the average target price estimate, which sits at just under $700.
"Money time" is on Wednesday (earnings results)... Source: Bloomberg
