Nvidia's Earnings Set For 'Drop The Mic' Moment As Investors Anticipate 'Massive' AI Demand Forecast From CEO Jensen Huang, Says Tech Bull

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Nvidia's Earnings Set For 'Drop The Mic' Moment As Investors Anticipate 'Massive' AI Demand Forecast From CEO Jensen Huang, Says Tech Bull The upcoming earnings report from NVIDIA Corp. (NASDAQ:NVDA) could be a pivotal moment for the company, according to a prominent analyst. What Happened: Dan Ives, an analyst at Wedbush Securities, predicts that the earnings report, scheduled for Aug. 28, will be a significant event for the tech industry. Don't Miss: Ives emphasized that the earnings call will capture the attention of investors globally, as they await insights from CEO Jensen Huang on the future demand for artificial intelligence chips through 2025. “Nvidia earnings on August 28th you will be able to hear a pin drop on trading desks around the Street/globe as investors hear from the Godfather of AI Jensen on the massive demand trajectory for AI chips into 2025 which we believe will be another drop the mic moment for tech,” Ives wrote on X on Sunday. Nvidia earnings on August 28th you will be able to hear a pin drop on trading desks around the Street/globe as investors hear from the Godfather of AI Jensen on the massive demand trajectory for AI chips into 2025 which we believe will be another drop the mic moment for tech 🔥 — Dan Ives (@DivesTech) August 12, 2024 Trending: Amid the ongoing EV revolution, previously overlooked low-income communities now harbor a huge investment opportunity at just $500. Why It Matters: Nvidia has seen a significant decline in market value, dropping by $900 billion since its peak in June, despite the ongoing surge in AI spending. Major tech companies like Microsoft Corp. (NASDAQ:MSFT), Amazon.com Inc. (NASDAQ:AMZN), Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOGL), and Meta Platforms Inc. (NASDAQ:META) have committed to continued investment in AI infrastructure, which represents over 40% of Nvidia's revenue. Additionally, the “Magnificent Seven” mega-cap stocks, including Nvidia, have been at the forefront of market volatility. Despite a 30% drop from their five-year peak valuations, they remain 50% above their five-year troughs. This group, which includes major players in IT, communication services, and the electric vehicle industry, continues to wield significant influence over the market. Story continues See Also: Don’t miss out on the next Nvidia – you can invest in the future of AI for only $10. Furthermore, notable figures like former Speaker Nancy Pelosi (D-Calif.) have shown confidence in Nvidia’s future by purchasing additional shares. Pelosi recently disclosed acquiring more Nvidia shares while selling part of her stake in Microsoft. Lastly, early tech investor James Anderson has predicted that Nvidia could achieve a market capitalization of nearly $50 trillion within the next decade, driven by the growing demand for AI chips. This bullish outlook has contributed to Nvidia’s shares soaring by 117% since the beginning of the year. Price Action: Nvidia’s stock closed at $104.75 on Friday, down 0.21% for the day. In after-hours trading, the stock inched up 0.019%. Year to date, Nvidia’s stock has surged by an impressive 117.46%, according to data from Benzinga Pro. Read Next: "ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now! Get the latest stock analysis from Benzinga? This article Nvidia's Earnings Set For 'Drop The Mic' Moment As Investors Anticipate 'Massive' AI Demand Forecast From CEO Jensen Huang, Says Tech Bull originally appeared on Benzinga.com © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.