![]() If Nvidia reports anything resembling an earnings "beat" tomorrow - and follows that up with something other than abysmal guidance for the rest of the year, there's even a possibility Nvidia stock could pop after earnings. But I have to say that, at a P/E ratio of 45 today, and with analysts still forecasting long-term earnings growth rates of 22.5% for Nvidia - so a 2.0 PEG ratio - the stock is finally starting to approach a reasonable valuation. Granted, it's possible not enough bad news has been baked in. But one look at the stock chart is all it takes to tell you that a lot of bad news has already been baked into Nvidia stock's price. Nvidia's sales and earnings tomorrow may not be all that investors had hoped to see - analysts are forecasting per-share earnings of as little as $0.20 per share, down 79% year over year. Analysts expect the chipmaker to report 1.22 in. For that matter, the stock is down nearly 10% over just the past week. Investors have slightly bid up the share price of Nvidia Corporation ( NVDA) ahead of the companys fiscal fourth quarter earnings announcement. Since 2022 began, Nvidia stock has been 43% on sale. ![]() So why is Nvidia stock up today? That's a great question, but I suspect the answer may be as simple as: bottom-fishing. Investors have slightly bid up the share price of Nvidia Corporation ( NVDA) ahead of the company's fiscal fourth quarter earnings announcement.
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