Locator: 45965INV.
IBD stock of the day! Link here.
The Santa Clara, Califonia-based company plans to release its results for the quarter ended October 29 after the market close on November 21.
Analysts polled by FactSet predict Nvidia will earn $3.33 a share on sales of $16.06 billion. In the year-earlier quarter, Nvidia earned 58 cents a share on sales of $5.93 billion.
Demand for graphics processors and data-center hardware for artificial intelligence applications has been fueling huge sales and earnings growth for Nvidia this year.
In a weekend note to clients, investment firm Evercore ISI called Nvidia "arguably the most important stock in the world right now."
Nvidia is a key player among "AI enablers, adopters and adapters," Evercore said.
The firm rates Nvidia as outperform with a price target of 600.
Evercore analysts noted that Nvidia stock "has made a stalwart defense of its months-long support line at $400.
Nvidia (NVDA) stock is the IBD Stock Of The Day as the artificial intelligence chipmaker forms a bullish chart pattern ahead of its fiscal third-quarter report.
Folks may want to note this:
Analysts polled by FactSet predict Nvidia will earn $3.33 a share on sales of $16.06 billion. In the year-earlier quarter, Nvidia earned 58 cents a share on sales of $5.93 billion.
- consensus: $3.16
- FactSet: forecast: $3.33
- whisper: $3.47
- consensus: $14.50 billion
Share price:
- one year ago: $143
- today: $458
Back-of-the-envelope:
- $3.35 / $0.58 = 5.78
- 458 / 143 = 3.20
- 5.78 x 143 = $826
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