The post Tomorrow Nvidia’s quarterly reports: the SP500 index trembles appeared on BitcoinEthereumNews.com.

Wednesday, November 20, the AI giant Nvidia will release the financial results for the third quarter, with direct consequences on the prices of the SP500 index. The analysts expect earnings growth to 33 billion in earnings with a gross margin of 73-74%, enough to fuel a new bull run for the stock. Attention, however, because unpleasant surprises could have a negative impact on both stock indices and Bitcoin.All the details below. Financial results of Nvidia: the most anticipated event of the week among SP500 stocks Nvidia, a leading company in the AI market, is about to release the much-anticipated financial data for Q3 2024, offering an opportunity for volatility for the SP500. According to Bank of America, this is the most anticipated event of the week by the US markets, given the disruptive impact expected on prices. The banking multinational even believes that the news will move more than the data on non-farm payrolls (labor market) or the data on inflation. The performance of the chipmaker could trigger unprecedented market swings across all financial sectors, including the crypto segments. There are concerns related to the high energy consumption of the next-generation Blackwell platform developed by Nvidia. In any case, Bank of America remains bull on the stock listed on the Nasdaq, and expects results better than expectations. We remind you that Nvidia has beaten earnings targets in ten of the past twelve quarters, earning the respect of the entire SP500 index. This time around, analysts’ forecasts are set at 33.09 billion dollars in profit with an EPS of 0.76 dollars per share. If the results were to be better than expected, we could anticipate a strong jump in the price of the NVDA stock, which is now aiming for the target of 150 dollars. On the contrary, an unpleasant surprise…

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Filed under: News - @ November 19, 2024 1:21 pm