Nvidia's financial report is coming soon: Will artificial intelligence dominate everything?
According to Wall Street predictions, Nvidia's Q1 revenue will reach $6.5 billion, with an adjusted earnings per share of 92 cents. The estimated revenue for Q2 is $7.2 billion.
After the US stock market closed on Wednesday, Nvidia will release its financial report. The market expects mixed results for its gaming business, but investors may focus on the progress of its data center products. These products are used to drive the latest artificial intelligence applications, attracting investors and consumers.
Wall Street predicts that Nvidia's first-quarter revenue will reach $6.5 billion, with adjusted earnings per share of 92 cents. Analysts estimate second-quarter revenue will be $7.2 billion.
Earlier this week, KeyBanc Capital Markets analyst John Vinh reiterated his buy rating on Nvidia's stock and raised his target price from $320 to $375.
Vinh wrote on Sunday, "Nvidia is still in a unique position to benefit from the growing artificial intelligence and machine learning market."
Vinh also said, "However, the disappointing launch of the RTX4070 graphics card may lead to a slight decline in the gaming business, and investors are expected to see through these concerns."
The RTX4070 gaming graphics card was released on April 13.
The company's chips are closely related to this year's popular generative AI.
Wall Street analysts are bullish on Nvidia. FactSet data shows that about 74% of people have a "buy" or equivalent rating on Apple's stock.
So far this year, Nvidia's stock price has risen more than 100%, and has risen 90% in the past 12 months.