Analysts update Nvidia stock price target ahead of earnings
This is what could happen next to Nvidia shares.
We will know in a couple of minutes.
AI-chip colossus Nvidia (NVDA) is scheduled to report fiscal-0.33-quarter earnings on Nov. 20 and the total tech world is gazing.
Related: Nvidia earnings on deck as AI kingpin tightens grip against rivals
The $Three.6 trillion company commands a nearly 80% share of the marketplace for prime-end AI-powering chips and processors. Its top customers consist of the likes of Google parent Alphabet (GOOGL) , software giant Microsoft (MSFT) and electric vehicle maker Tesla (TSLA) .
"Nvidia’s earnings on Wednesday often is the grand finale of the earnings announcement season," said Louis Navellier, chairman and founding father of Navellier & Associates. "Starting within the fourth quarter, Nvidia’s new Blackwell GB200 GPU will dominate its sales for the following couple of years."
Since Nvidia spent roughly $2 billion developing the Blackwell GPU, Navellier said, the corporate "has no competitors, and since it develops even more powerful GPU successors to Blackwell, I do now now not are looking ahead to any competitor to crack Nvidia’s monopoly on generative AI."
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