Explore the latest developments concerning Nvidia to report.
Nvidia to report high-stakes Q3 earnings amid investor concerns of AI overbuilding
Nvidia (NVDA) will report its highly anticipated third quarter earnings after the bell on Wednesday, its first such announcement since the company's market capitalization briefly eclipsed $5 trillion last month.
The earnings reveal comes as Wall Street grows increasingly anxious over the state of the AI trade, with investors and analysts flagging bubble concerns amid high valuations. Nvidia's stock was down nearly 3% on Tuesday, and shares have lost some 12% since its latest all-time high.
Even as other tech behemoths have reported strong earnings, the chip giant is the most important bellwether for the AI trade. Any miss or beat on projections set to impact price action on a wide array of AI stocks. The report could also trigger a $320 billion swing in the chipmaker's market value, according to data from analytics firm Option Research & Technology Services (ORATS). That would be the largest post-earnings move ever for Nvidia.
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Stock futures little changed as S&P 500 notches fourth-straight loss, Nvidia earnings loom: Live updates
Stock futures were little changed on Tuesday night after major U.S. indexes extended their losses, driven again by pressure in tech shares. Investors are now readying for Nvidia's earnings report to inform the strength of the AI trade.
Futures tied to the Dow Jones Industrial Average fell 47 points, or 0.1%. S&P futures were down 0.2%, while Nasdaq 100 futures fell 0.3%.
Tuesday's session saw the Dow Jones Industrial Average and S&P 500 notch their fourth consecutive losing days, with the S&P 500 notching its longest slide since August. The tech-heavy Nasdaq Composite recorded its fifth negative day in six sessions. Bitcoin briefly dropped below $90,000 on Tuesday before recovering, while gold prices rose from a one-week low.
For more detailed information, explore updates concerning Nvidia to report.
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