Carter Braxton Worth, the founder of Worth Charting LLC, shared his bullish view on Jensen Huang-led NVIDIA Corporation NVDA ahead of its earnings.
What Happened: Worth, a well-known technical analyst, suggested that investors should consider a long-term strategy for the stock, especially around the earnings period, during CNBC’s “Fast Money” on Monday.
He emphasized that the technical indicators point towards a continued upward trajectory for the company.
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Why It Matters: Worth’s advice comes at a crucial time for NVIDIA. The company’s earnings report for the second quarter of fiscal 2025 is eagerly awaited and is expected to have a significant impact on the market.
Analysts are projecting an earnings figure of $0.64 per share and a revenue of $28.68 billion for this quarter. A strong performance could potentially drive NVIDIA’s shares, which have already seen a 160% increase year-to-date, to new highs.
Despite the potential for short-term setbacks, Gene Munster foresees sustained growth for NVIDIA. He believes that the ongoing demand-supply imbalance and potential delays in Blackwell could negatively impact investor sentiment.
Jim Cramer, the host of CNBC’s “Mad Money,” also sees a positive outlook for NVIDIA, suggesting that the market is looking for “a $2 billion upside surprise in the reported quarter and a lift of $2 billion for the current quarter” from the AI chipmaker. He highlighted that despite recent market volatility, NVIDIA’s foundational strengths remain intact.
Worth’s bullish view adds another layer to the ongoing discussion around NVIDIA’s performance, providing investors with further insight into the potential future trajectory of the stock.
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This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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