The Super Bowl of tech earnings is nearly upon us, and the AI trade is about to get a crucial update that will either confirm or dispel a lot of investors’ fears from the last few weeks.
Nvidia will report earnings for the third quarter after the closing bell, and the stakes are high. Any sign of waning demand for chips from companies developing AI models will likely further derail this year’s rally.
Nvidia stock is down 10% month-to-date, but it’s still up 35% for the year.
Wall Street analysts are mostly upbeat about what to expect from the chip giant’s earnings, despite some of the recent jitters around the AI trade. They say that the results should reveal a continuation of strong demand that’s carried Nvidia stock and the broader AI-fueled market higher this year.
Nvidia will publish its results after the 4 p.m. ET closing bell, and a call with analysts is scheduled for 5 p.m. ET.