As experts in the world of investing, we are thrilled to bring you the latest updates on some of the biggest players in the market. Today, all eyes are on Nvidia as the company is set to report its fiscal second-quarter results after the bell Wednesday.
According to LSEG data, Nvidia’s earnings and revenue are expected to have more than doubled from the year-earlier period. Additionally, the company is forecasted to issue strong fiscal third-quarter guidance. This has retail traders buzzing with excitement as they anticipate positive news from Nvidia.
In fact, JPMorgan strategist Nikolaos Panigirtzoglou pointed out that flows into thematic exchange-traded funds with Nvidia shares have surged. Specifically, cumulative flows into the VanEck Semiconductor ETF (SMH) as a percent of assets are above 30%, and cumulative flows into the NVDL, a levered single-stock Nvidia ETF, have topped $4 billion this month. This surge in retail investor interest paints a bullish picture for Nvidia ahead of its earnings report.
On the other hand, bigger investors have taken a more cautious approach. Goldman Sachs recently noted that mutual and hedge funds are the most underweight on tech in the past decade, driven by selling in megacap tech names like Apple and Nvidia. This divergence in sentiment between retail and sophisticated investors sets the stage for potentially market-moving results from Nvidia’s report.
In other news, Morgan Stanley raised its price target on Ambarella after the chipmaker posted better-than-expected quarterly results. Analyst Joseph Moore highlighted Ambarella’s strong quarter and exceptionally bullish outlook, noting that the inventory correction is behind them and 2H revenues will reflect actual end market demand. Despite economic headwinds, such as a decrease in global auto production, Ambarella’s technology and rising demand for their new inference chips are expected to offset these challenges.
Stay tuned to Extreme Investor Network for the latest updates on Nvidia, Ambarella, and other key players in the investing world. Our expert insights and unique analysis will help you stay ahead of the curve and make informed investment decisions.