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All eyes are on Nvidia (NASDAQ: NVDA).
On Wednesday at 4:20pm…
The AI chip giant will reveal its quarterly financial results.
Nvidia’s earnings report will likely confirm that the Artificial Intelligence revolution is 100% real and on-track.
Wall Street’s latest estimates for the July quarter show…
- Revenues +113% to $28.7 billion
- Net Income +137% to $15.9 billion
- Earnings Per Share +138% to $0.64
Nvidia shares sold off in early August.
That was due to investor concerns that AI stocks had run too far – too fast. Plus, there was increasing chatter about a looming recession.
That sell-off was temporary. And it created an amazing opportunity to BUY Nvidia shares.
On Aug. 6 I explained…
“Now time to BUY Nvidia shares at a deep discount.
Since then, the stock has rallied from $100 to a recent price of $128 – a 28% gain in a few short weeks.
Go here for my #1 trade for 2024 – It’s NOT Nvidia
So, what’s next for Nvidia stock?
I’m expecting another strong quarter from the AI chip giant.
Nvidia will need to beat expectations – and raise its guidance for the next quarter.
CEO Jensen Huang has consistently delivered results. And I’m expecting more of the same.
Here are three reasons to be optimistic…
#1. Hyperscalers Spending +20%
Cloud computing “hyperscalers” including Amazon, Microsoft, and Meta are increasing their AI datacenter spending.
Estimates suggest spending could be up 20% from the previous quarter. Huge amounts of this cash are flowing directly to Nvidia.
#2. Enterprises and Sovereigns Desperate for Chips
There’s huge demand from enterprises and sovereign that are looking to build out their AI datacenters. This represents a new wave of buyers of Nvidia chips.
#3. New Blackwell Chip
New Blackwell chip will be released next year. This new chip ix 5x more powerful than the current Nvidia chips.
This will help fuel the AI upgrade cycle with a much more powerful chip.
Nvidia stock has posted a 5% average gain the day after reporting earnings. And you could see the same thing happen on August 29 after Nvidia’s earnings report.
My outlook suggests that Nvidia stock could trade at $150 within the next 12-months.
That would give the stock a P/E multiple of approximately 40.
Demand for Nvidia chips is soaring – due to AI and the datacenter boom.
Right now, I’m BUYING 5 hidden stocks to profit from this remarkable breakthrough.
Go here to watch my urgent video – it reveals my #1 trade.
Ian
P.S. Inside this video…
I’m going to give you the NAME and TICKER of my #1 way to profit from the AI boom.