Motley Fool
Why Nvidia Stock Popped Ahead of Earnings
Semiconductor stock Nvidia (NASDAQ: NVDA) got another lift on Tuesday morning when investment bank Piper Sandler predicted — on the day before fourth-quarter earnings arrive — that Nvidia will deliver a “significant beat and raise,” as StreetInsider.com reported this morning. “Overall, demand [for Nvidia’s chips] continues to be strong for gaming given the adoption of RTX GPUs with ray tracing,” Piper Sandler said this morning. In short, Piper Sandler is predicting that Nvidia will exceed expectations for 48% quarterly revenue growth and 58% earnings growth in its fourth-quarter report.
