Nvidia Is Next Week’s Top Stock, Market Strategist Says: Why Best Long-Term Idea Is ‘Just Buy Nvidia And Put It Away’
Nvidia Corporation (NASDAQ: NVDA) is set to release its earnings report on August 28 after the market closes, and investors are eagerly awaiting the results. Analysts are expecting Nvidia to report second-quarter revenue of $28.46 billion, a significant increase from $13.51 billion in the same quarter last year. Additionally, estimates call for Nvidia to report second-quarter earnings per share of 64 cents, up from 27 cents per share in the previous year’s second quarter.
Nvidia has a strong track record of beating revenue and earnings estimates, with the company surpassing expectations in seven out of the last ten quarters. This consistent performance has made Nvidia a market leader and a top stock to watch.
Freedom Capital Markets Chief Global Strategist Jay Woods highlighted the significance of Nvidia’s earnings report, stating that the company’s performance could be a market-leading indicator. Woods emphasized that Nvidia has been a key player in the market, with its stock price often influencing the broader market trends.
Woods pointed out that Nvidia’s stock price has shown resilience in the face of market fluctuations, citing a previous instance where the stock rebounded after a period of decline. He also noted that Nvidia’s stock has the potential to move the markets, given its significant weighting in various indexes and ETFs.
Despite cautioning investors about the short-term volatility surrounding Nvidia’s earnings report, Woods remains bullish on the stock as a long-term investment. He advised investors to consider buying Nvidia and holding onto it for the long term, citing a personal anecdote about his father’s successful investment in the company.
In conclusion, Nvidia’s upcoming earnings report is expected to have a significant impact on the market, with the company’s performance likely to influence investor sentiment. While short-term fluctuations are possible, Nvidia remains a strong long-term investment opportunity, according to market strategist Jay Woods. Investors looking to capitalize on Nvidia’s potential growth may consider buying and holding onto the stock for the long term.
