- Trading
- Trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Volume rebates
- Open account
- Try free demo
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- MetaTrader copy trader
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- PAMM
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
- Trading
- Trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Volume rebates
- Open account
- Try free demo
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- MetaTrader copy trader
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- PAMM
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
- Home
- News & Analysis
- Shares and Indices
- Upcoming Nvidia earnings: Has the AI hype cooled?
- Home
- News & Analysis
- Shares and Indices
- Upcoming Nvidia earnings: Has the AI hype cooled?
News & AnalysisNews & AnalysisNvidia has been the star of the US markets since the AI hype kicked off late 2022. The trillion-dollar chip
manufacturer’s shares have almost tripled in 2023 alone, with the price increasing every month so far
this year.In May, Nvidia surprised the markets by posting earnings and revenue figures well above analysts’
expectations. This sent price rocketing and adding almost $184B USD to the market cap during the
following daily session.Nvidia is set to release their Q2 results on Wednesday, so the markets will be watching to see if they
have been able to maintain the strong momentum over the past quarter. Markets are estimating
earnings of $2.076B and revenue of $11.14B.Technically, the price has been ranging sideways between $400-$480 since around June 2023. There is a
strong support level around $400 that held multiple times in the past few months, so this will be a key
level to hold if the earnings on Wednesday are below expectations.If earnings beat expectations, the price could head back north towards the resistance zone at about
$470. Traders will be watching this level to see if there is enough momentum to break through to all-
time highs again.With the AI hype cooling off slightly over the past few months, it will be interesting to see how Nvidia
performed over the past quarter and if the momentum was sustainable.Ready to start trading?
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
Averaging down: A Risky Move or a Smart Strategy?
Averaging down is an investment strategy in which an investor purchases additional shares or other assets at a lower price than their initial purchase price. This strategy is employed when the price of the asset has declined after the investor's initial purchase. Through buying more of the asset at a lower cost, the average cost per unit or share d...
August 21, 2023Read More >Previous Article
FX Analysis – CNH strengthens on intervention talk – JPY breaks losing streak – Gold breaks key support
FX WRAP USD was choppy with the US Dollar Index ending the session flat in range bound trade. Unemployment claims dropped to 239k from 250k the pri...
August 18, 2023Read More >News and Analysis
Join our mailing list to receive market news and monthly newsletters, delivered directly to our inbox.