The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
NVIDIA: hottest stock of the week
Information is not investment advice
What will happen?
NVIDIA is set to release its earnings results after the closing bell on February 24. To be precise, at the midnight from Wednesday to Thursday. Analysts forecast earnings at $2.8 per share and revenue at $64.72 billion. Pay attention that unlike other companies NVIDIA will reveal its performance that ended January 31, 2021 (not December 31, 2020, like others).
How to trade NVIDIA’s earnings?
- If the actual earnings come out greater than $2.8 per share, NVIDIA will rise.
- If the actual earnings come out less than $2.8 per share, NVIDIA will drop.
NVIDIA is widely expected to beat estimates due to the company’s leading position in producing chips for the gaming and artificial intelligence industries, but at a slower pace than the previous two quarters. Investors will focus on Nvidia's data center revenue. The Covid-19 boosted the demand for data center services. Since NVIDIA is one of the main suppliers of chips for data centers, robust growth in this segment is awaited.
Moreover, earnings will reveal whether NVIDIA has been able to cope with the industry-wide shortages of chips or not. Many chip customers are facing these days the increased demand for gadgets like laptops and gaming consoles that use chips.
NVIDIA has been moving in an ascending channel since the summer of the last year. Since it’s in a lower part of the channel, it has more potential to rise. Besides, the downside is limited by the 50-and 100-day moving averages at $540.00. The move above $580.00 will drive the stock up to the high of February 16 at $615.00.
Don't know how to trade stocks? Here are some simple steps.
- First of all, be sure you’ve downloaded Metatrader 5 . FBS allows you to trade stocks only through this software.
- Open the MT5 account in your personal area.
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