Nvidia (NASDAQ:NVDA) was in focus on Monday as Wedbush said recent checks showed demand to supply is a 10 to 1 ratio ahead of the company’s earnings report, set for Aug. 27.
Shares slipped fractionally in premarket trading.
“When Nvidia reports earnings this week on Wednesday after the bell the tech world and Wall Street will be listening closely to every word from Jensen as we continue to believe from our Asia field checks that demand to supply is 10:1 for Nvidia’s golden chips,” Wedbush analysts wrote in a note to clients.
The analysts added that Nvidia’s results are likely to be “another positive catalyst for tech stocks,” with investors being reassured that the artificial intelligence build out is only in the “bottom of the 2nd inning in the 9 inning game.”
A consensus of analysts expect Nvidia to earn $1.01 per share on $46B in revenue.
