Nvidia: The ‘Most Important Stock’ on Earth, According to Goldman Sachs

Nvidia: The ‘Most Important Stock’ on Earth, According to Goldman Sachs

Nvidia Corp. is set to deliver a blockbuster earnings report on Wednesday, and Goldman Sachs Group Inc. has dubbed it “the most important stock on planet earth” . The chipmaker, which is a leader in artificial intelligence and gaming, has seen its stock triple in value over the past year, driven by strong demand and innovation. Nvidia alone has been responsible for one-third of the Nasdaq 100 Index’s gains this year.

 

Goldman’s Trading Desk Calls Nvidia ‘Most Important Stock’ on Earth

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However, the stock is also facing some challenges, such as rising competition, supply chain issues, and regulatory hurdles. Goldman tactical specialist Scott Rubner wrote in a note to clients on Tuesday that “everyone is in the pool and there are positioning warning signs”. He added that “the bar is high, and by high I mean a big beat is expected”.

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Traders are bracing for more volatility after Nvidia’s earnings report, as options positioning imply about an 11% move in either direction . If Nvidia can deliver strong results and guidance, it could shake up financial markets given its influential weighting on indexes and crowded long positions in the stocK

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Source : yahoo finance

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