Nvidia Q3 results preview: Wall Street traders brace for $300 billion swing in market cap, stock up 200% YTD

Nvidia Q3 results today: The option-vested move for Nvidia shares the day after earnings is about 8% in either direction, according to data compiled by Bloomberg. This would equate to a swing in market value of about $300 billion – larger than all but 25 companies in the S&P 500 index. And according to Bank of America strategists, the report carries more risk for the benchmark than the next Federal Reserve meeting or inflation data.

As the poster child of artificial intelligence trading, Nvidia’s stock has surged nearly 200% so far in 2024 and its report has been the biggest event on the earnings calendar for more than a year. But shares retreated 1% after the market closed Wednesday ahead of the chipmaker’s fiscal third-quarter earnings, and there is more uncertainty than usual about how results and guidance will play out.

However, with a history of beating estimates by a large margin, due to unbridled demand for its accelerator chips, Nvidia may need to do more than just assure that Blackwell’s ramp remains strong. Over the past five quarters, Nvidia’s sales have beaten the consensus by an average of about $1.8 billion, according to data compiled by Bloomberg.

If Nvidia’s results fall below that level, it could spell trouble for the stock, which is trading near record highs after nearly tripling this year.

As the poster child of artificial intelligence trading, Nvidia’s stock has surged nearly 200% so far in 2024 and its report has been the biggest event on the earnings calendar for more than a year. But shares retreated 1% after the market closed Wednesday ahead of the chipmaker’s fiscal third-quarter earnings, and there is more uncertainty than usual about how results and guidance will play out.

However, with a history of beating estimates by a large margin, due to unbridled demand for its accelerator chips, Nvidia may need to do more than just assure that Blackwell’s ramp remains strong. Over the past five quarters, Nvidia’s sales have beaten consensus by an average of about $1.8 billion, according to data compiled by Bloomberg.

If Nvidia’s results fall below that level, it could spell trouble for the stock, which is trading near record highs after nearly tripling this year.

As the poster child of artificial intelligence trading, Nvidia’s stock has surged nearly 200% so far in 2024 and its report has been the biggest event on the earnings calendar for more than a year. But shares retreated 1% after the market closed Wednesday ahead of the chipmaker’s fiscal third-quarter earnings, and there is more uncertainty than usual about how results and guidance will play out.

However, with a history of beating estimates by a large margin, due to unbridled demand for its accelerator chips, Nvidia may need to do more than just assure that Blackwell’s ramp remains strong. Over the past five quarters, Nvidia’s sales have beaten the consensus by an average of about $1.8 billion, according to data compiled by Bloomberg.

If Nvidia’s results fall below that level, it could spell trouble for the stock, which is trading near record highs after nearly tripling this year.

As the poster child of artificial intelligence trading, Nvidia’s stock has surged nearly 200% so far in 2024 and its report has been the biggest event on the earnings calendar for more than a year. But shares retreated 1% after the market closed Wednesday ahead of the chipmaker’s fiscal third-quarter earnings, and there is more uncertainty than usual about how results and guidance will play out.

However, with a history of beating estimates by a large margin, due to unbridled demand for its accelerator chips, Nvidia may need to do more than just assure that Blackwell’s ramp remains strong. Over the past five quarters, Nvidia’s sales have beaten consensus by an average of about $1.8 billion, according to data compiled by Bloomberg.

If Nvidia’s results fall below that level, it could spell trouble for the stock, which is trading near record highs after nearly tripling this year.