Nvidia Stock Shows Strong Momentum Ahead of Q3 Earnings Report
Nvidia's stock has surged from $46 to $188 in 2023, fueled by robust earnings growth and bullish market sentiment. Despite a recent 10% pullback, technical analysis from TrendSpider suggests the dip may precede a rebound, as valuations compress while fundamentals strengthen.
The chipmaker anticipates $54 billion in Q3 revenue—a 54% year-over-year leap—with analysts projecting adjusted EPS of $1.25 versus $0.81 last year. Short-seller Michael Burry's bearish bets contrast sharply with the stock's 300% annual gain, setting the stage for a high-stakes earnings reveal on November 19.
Market watchers now speculate whether Nvidia can breach its $250 record high, as institutional investors weigh exponential AI demand against mounting valuation concerns. The stock's trajectory mirrors crypto's performance catalysts—where parabolic rallies often follow periods of consolidation.
