This could be the stock market’s most important week of the year as investors await Nvidia’s second-quarter earnings results on Wednesday, according to one Wall Street analyst.
Wedbush analyst Dan Ives called the imminent Nvidia results the “most important tech earnings in years” in a note last week.
“We believe the most important week for the stock market this year and potentially in years for the Street will be next week as the Godfather of AI Jensen and Nvidia have earnings on deck,” Ives said on Friday.
The results are so important because the stock market’s booming AI trade hinges on Nvidia’s GPU chips, with Ives calling it the “only game in town.”
https://markets.businessinsider.com/news/stocks/stock-market-this-week-most-important-week-year-nvidia-earnings-2024-8
https://www.morningstar.com/news/marketwatch/20240826100/nvidias-earnings-may-swing-the-stock-market-this-week-heres-how-to-hedge-it-bofa-global-says