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Nvidia is expected to report fiscal first-quarter earnings after market close on Wednesday. Analysts forecast a more than 400% rise in EPS and a 200% increase in revenues yearly. Wall Street expects strong results but signs of deceleration from the previous quarter's growth rates of more than 700% EPS and 200% revenues. Analysts note Nvidia's transition from older H100 chips to new Blackwell chips could impact results and cause short-term volatility.

Nvidia Set to Release Q1 Earnings: Analysts Predict Significant Growth, But Signs of Slowing Momentum

⏲ 0:34 👁 270K

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Apotheosis [Become a God] EP.80 Engsub

Apotheosis [Become a God] EP.80 Engsub

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China's largest chipmaker, SMIC, has become the world's third-largest chip foundry in terms of revenue in the first quarter. SMIC held a 6% market share of global foundry revenue in the first quarter, overtaking GlobalFoundries and UMC of Taiwan. This places SMIC behind TSMC of Taiwan and Samsung Foundry of South Korea. SMIC reported a more than 19% increase in revenue for the first quarter, with over 80% coming from China. SMIC plays a critical role in China's goal of reducing dependence on foreign chip technology but still lags TSMC and Samsung in fabrication technology.

China's SMIC Becomes Third Largest Chip Foundry Amid Surging Q1 Growth

⏲ 0:42 👁 2M

Chase Elliott holds off a hard-charging Brandon Jones on the final lap to score the Xfinity Series victory at Charlotte Motor Speedway.

Chase Elliott holds off hard-charging Brandon Jones for Xfinity Series win

⏲ 0:49 👁 165K

Stocks reached record highs this week due to an optimistic outlook on potential interest rate cuts by the Federal Reserve. Upcoming earnings reports from companies like Nvidia, Target, Palo Alto Networks, and Lowe's will be monitored closely. Economic news this week includes updates on manufacturing and services sectors, consumer sentiment, and the release of May FOMC meeting minutes. Nvidia's impressive earnings report in May 2023 has boosted the AI industry and impacted the overall market. Nvidia's stock has surged over 86% in 2024 and more than 200% in the past year since its groundbreaking earnings report in May 2023 sparked widespread enthusiasm for AI.

Stocks Surge on Hopes of Fed Rate Cuts as Investors Watch Upcoming Earnings for Nvidia

⏲ 0:43 👁 155K

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⏲ 2:10:15 👁 460K

Nvidia is set to report earnings on Wednesday, and options markets are pricing an 8.7% move in the stock price by Friday, which would translate to a $200 billion swing in the company's market cap. Nvidia's massive gains this year have made it the third largest company by market cap on Wall Street, behind only Microsoft and Apple. Wall Street is betting on Nvidia's strong quarterly report, which shows continued growth in its artificial intelligence business. Analysts expect Nvidia to report revenue of over $24 billion, up sharply from a year ago.

Will Nvidia Hit a $200B Market Cap? Here's What Wall Street Expects from Wednesday's Earnings Report

⏲ 0:35 👁 675K

Shortland Street 7927 23rd May 2024

Shortland Street 7927 23rd May 2024

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