Nvidia(US:NVDA) Finboldยท2024-11-14 11:02Core Insights - Nvidia is set to announce its Q3 2024 earnings on November 20, with significant expectations surrounding its performance in the AI sector [1][2] - The stock has shown volatility, recently closing at $146.27, down 1.36%, but showed minor strength before the upcoming earnings report [2] - Analysts have high expectations for Q3, with revenue guidance of approximately $32.5 billion and gross profit margins around 75% [3][6] Financial Expectations - Nvidia expects Q3 revenue of approximately $32.5 billion, with a gross margin of about 75% and an earnings per share (EPS) estimate of $0.74 [3][6] - Analysts have set a revenue estimate of $32.94 billion and an EPS estimate of $0.74, indicating a closely watched earnings report [3][6] Price Prediction Scenarios - If Nvidia exceeds expectations, the stock price could rise to approximately $153.30 (5% increase) or $160.60 (10% increase) [7] - Conversely, if Nvidia misses expectations, the stock price could drop to around $138.70 (5% decrease) or $131.40 (10% decrease) [7] Market Sentiment and Analyst Outlook - Wall Street analysts have raised their price targets for Nvidia, with Mizuho increasing its target from $140 to $165, citing optimism in AI and data center markets [7][8] - Morgan Stanley's Joseph Moore raised his target from $150 to $160, highlighting the demand for upcoming Blackwell chips, but noted potential supply chain constraints [8] - Piper Sandler analyst Harsh Kumar expects Nvidia's stock to rise to $175, despite similar supply chain concerns [9]