Nasdaq NVDA Nvidia

Nvidia ( NASDAQ:NVDA ) is scheduled to announce its fiscal third-quarter results after the market closes on Tuesday, November 21. The chipmaker has been the standout performer among S&P 500 companies, posting a remarkable yearly gain of over 222%, surpassing the S&P 500 Index ( SPX ) rally of 14.3%. Interestingly, analysts maintain a bullish outlook for NVDA's Q3 performance, anticipating continued upside potential in its stock. Overall, the Street expects Nvidia’s Q3 adjusted earnings to jump to $3.37 from $0.58 in the prior-year quarter. Also, analysts are anticipating  Nvidia’s revenue to rise 173% year-over-year to $16.2 billion. Here’s What Analysts Are Saying Ahead of Nvidia’s fiscal third-quarter results release, 10 Top-rated analysts assigned a Buy rating to NVDA stock. Before we dig deeper, investors should note that TipRanks identifies the  Top Wall Street analysts per sector, per timeframe, and against different benchmarks. The ranking reflects an analyst’s ability to deliver higher returns through recommendations. Susquehanna analyst Christopher Rolland expects NVDA to report a “beat and raise” quarter. The expectations for the company’s strong performance in Q3 are based on an improved supply chain and an impressive backlog. Further, the analyst expects Nvidia to benefit from its efforts to increase capacity at existing suppliers. It is worth mentioning that Rolland raised his price target to $625 from $600. Another analyst, Toshiyari Hari from Goldman Sachs, expects the company to report strong Q3 results and provide encouraging forward guidance. He finds the stock’s risk/reward profile to be attractive at the current levels. Regarding Q3 results, the analyst believes Nvidia’s Data Center and Gaming segments have performed well. Hari expects Q3 Data Center revenue of $12.4 billion to rise 20% sequentially, while Gaming revenue is projected to increase by 14% to $2.82 billion. What is NVDA’s Price Target? The analysts’ average price target of $648.01 implies 31.5% upside potential from the current levels. Also, Wall Street is highly bullish on Nvidia, with a Strong Buy consensus rating based on 37 Buys and one Hold. Insights from Options Trading Activity TipRanks now presents options activity to help investors plan their trades ahead of earnings releases. Options traders are  pricing in a +/- 7.82% move on Nvidia’s earnings. NVDA shares have averaged a 5.86% upward move in the last eight quarters. In particular, the stock gained a negligible 0.1% in reaction to fiscal second-quarter results. The anticipated move is determined by computing the at-the-money straddle of the options closest to the expiration after the earnings announcement. Learn more about TipRanks’ Options tool here. Ending Note NVDA’s dominant position in the AI space allows it to benefit from developments in generative AI. Furthermore, efforts to continue introducing new products and easing supply chain issues, along with positive momentum in the Data Center and Gaming businesses, remain key supporting factors for Nvidia’s performance. Disclosure

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Shares were generally flat on Monday in thin trading ahead of the U.S. Thanksgiving holiday on Thursday and in the absence of major data releases that could give markets direction, while the dollar slipped against major currencies.

Japanese shares hit highs not seen since 1990 on Monday as strong earnings and offshore demand fuelled a three-week winning streak, while the yuan was pushed higher by China's central bank leading to broader softness in the dollar.

The Nikkei is up more than 8% so far this month, and almost 29% for the year so far. The broader Topix is up 26% on the year but still only trades at a price to earnings ratio of 14. That compares to 23 for the S&P 500 and almost 29 for the Nasdaq.

Japanese shares hit highs not seen since 1990 on Monday as strong earnings and offshore demand fuelled a three-week winning streak, while the yuan was nudged higher by China's central bank.

Japanese shares climbed to highs not seen since 1990 on Monday as strong earnings and offshore demand fuelled a three-week winning streak, while other Asian markets were more mixed with eyes fixed on the U.S. rate outlook.

Asian shares got off to a slow start on Monday in what will be a holiday-shortened week and with market valuations looking a little stretched given they have already priced in aggressive global policy easing for next year.

The S&P 500 had a good week last week and finished up over 2%. Part of the rally was bolstered by some better-than-expected inflation news

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Baidu and Nvidia will be reporting during this holiday-shortened week. Here's what to know about the markets this week.

Last year was one that Wall Street would rather soon forget. However, after enduring the worst stock market performance in more than a decade, investors finally have reason to be optimistic. The S&P 500 has climbed 25% from its bear market low (as of this writing) and sits le

Chip companies have been in focus this year due to the massive opportunity created by the generative artificial intelligence ambitions of tech giants following the success of OpenAI’s ChatGPT. Further, after suffering for several quarters, many semiconductor companies could benefit from the gradual recovery expected in the PC market next year. Bearing this backdrop in mind, we used TipRanks’ Stock Comparison Tool to place Advanced Micro Devices ( NASDAQ:AMD ), Nvidia ( NASDAQ:NVDA ), and Intel ( NASDAQ:INTC ) to find the best chip stock as per Wall Street experts. Advanced Micro Devices (NASDAQ:AMD) While Nvidia has stolen the limelight from all other semiconductor stocks this year due to the demand for its graphics processing units (GPUs) in generative AI, several analysts remain bullish about Advanced Micro Devices’ potential to grab the opportunities in the generative AI space. The company is expected to benefit in the upcoming quarters from the demand for its latest MI300 chips and recovery in the PC market. During the Q3 earnings call, management said that it expects AMD's Data Center GPU revenue to be about $400 million in the fourth quarter and surpass $2 billion in 2024, backed by the demand for MI300 chips. This, as per the company, would make MI300 its fastest product to ramp to sales of $1 billion. Is AMD a Buy, Sell, or Hold? On November 13, Roth MKM analyst Sujeeva De Silva initiated coverage of AMD stock with a price target of $125. The analyst pointed out that AMD’s premium valuation of P/E (price-to-earnings multiple based on calendar year 2024 earnings estimates) of 33x, compared to the overall technology peers' average P/E of 26x, reflects the company’s relative growth opportunity. De Silva believes that the company’s differentiated portfolio of high-performance compute and networking processors and accelerators represent a solid investment opportunity. He added that the company is well-positioned from a product portfolio point of view to address the growing data center infrastructure market. Also, checks by the analyst’s firm reveal that AMD is poised to win further market share in the cloud server space and is making progress in the enterprise market. With 23 Buys and seven Holds, AMD scores Wall Street’s Strong Buy consensus rating. At $127.13, the average price target suggests a modest upside potential of 5.4%. Shares have jumped more than 86% so far in 2023.   Nvidia (NASDAQ:NVDA) This year has been a remarkable one for Nvidia. The generative AI-induced demand for the company’s advanced GPUs has helped NVDA deliver stellar results in recent quarters and triggered a 237% year-to-date rally in the stock. The company’s GPUs are being used by several tech giants to build and train generative AI models. Following the robust performance in the first half of the fiscal year, expectations are high from Nvidia’s fiscal third-quarter results, scheduled to be announced on November 21. Analysts expect the company’s Q3 FY24 revenue to surge 173% year-over-year, backed by solid Data Center business. This revenue growth estimate reflects further acceleration in NVDA’s top-line growth compared to 101% in Q2 FY24. Wall Street expects adjusted EPS to jump to $3.37 in Q3 FY24 from $0.58 in the prior-year quarter.   What is NVDA Price Target? At the recently held Supercomputing 23 event, Nvidia unveiled its HGX H200 AI accelerator, which is an upgrade to the H100. Bank of America analyst Vivek Arya noted that the H200 is compatible with its predecessor H100 installations, which will facilitate faster time to market and is in fact "critical," given that hyperscalers do not need to invest to reconfigure their existing hardware platform to the upgraded offering. Arya believes that upgrade simplicity enhances the competitive portfolio that Nvidia holds. Calling NVDA his “top pick,” the analyst reiterated a Buy rating on the stock with a price target of $650 on November 13. Including Arya, 37 analysts have a Buy recommendation for Nvidia while only one analyst has a Hold rating. The average price target of $648.01 implies 31.5% upside potential.   Intel (NASDAQ:INTC) Intel shares have rallied more than 21% over the past one month and are up 66% year-to-date. The company’s better-than-projected third-quarter performance impressed investors. The company’s adjusted EPS increased nearly 11% to $0.41 per share, easily exceeding analysts’ adjusted EPS estimate of $0.22. Despite an 8% decline in Q3 2023 revenue to $14.2 billion, adjusted EPS increased due to the company’s expense discipline. After losing market share to rivals like AMD in recent years, Intel is now focusing on improving the competitiveness of its offerings and streamlining its business. The company also aims to improve its profitability and is targeting cost savings of $8 billion to $10 billion by 2025.    What is the Prediction for Intel Stock? Mizuho analyst Vijay Rakesh recently upgraded Intel stock, citing many upcoming server product rollouts and foundry customer announcements. That said, most analysts remain cautious about Intel, including Morgan Stanley analyst Joseph Moore. In late October, Moore raised his price target for Intel to $39 from $35 and reiterated a Hold rating on the stock. While the analyst acknowledged that Q3 was a good quarter for Intel mainly due to PCs, he thinks that the "data center malaise" continued in the quarter. Consequently, he kept his second-half estimates essentially unchanged. While Moore expects the recent results to benefit the stock over the near term, he contends that for Intel the "focus is the roadmap, not numbers." Overall, Wall Street’s Hold consensus rating on INTC stock is based on five Buys, 18 Holds, and four Sells. The average price target of $37.39 implies a possible downside of 14.6% from current levels. Conclusion Analysts are bullish on Advanced Micro Devices and Nvidia, while they are sidelined on Intel, as many think that there is much more to be done for the company to improve its competitiveness in the chip market. Despite the phenomenal year-to-date rally in Nvidia shares, Wall Street continues to see higher upside potential in the stock than AMD and Intel.   Disclosure 

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Patrick Badolato is an associate professor of instruction at the University of Texas at Austin McCombs School of Business. Motley Fool host Ricky Mulvey caught up with Badolato for an "investing classroom" session.