Nvidia earnings will give Wall Street a peek into AI demand heading into 2024
Publishing timestamp: 2023-11-20 11:43:59
Summary
Analysts expect Nvidia's third-quarter earnings to show year-over-year growth above 170%. Investors will be closely watching the forecast for the fourth quarter, which is expected to have sales growth of nearly 200%. The company's stock price has surged in 2023, and any indication of cooling enthusiasm for generative AI, competition from AMD, or China restrictions could impact the stock. Nvidia is still the market leader in GPUs for AI, but high prices are a concern. The company recently unveiled a new GPU designed for training AI models. Analysts expect data center growth to quadruple in the third quarter, and total revenue is expected to rise 172%. Nvidia investors have brushed off China-related concerns. The company is set to deliver three new chips to Chinese manufacturers. Investors will be listening closely to CEO Jensen Huang's tone on the conference call for any signs of a slowdown in generative AI.
Sentiment: NEUTRAL
Tickers: MSFT, TSLA, NVDA, AMD, META,
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