Nvidia is set to report its financial results, which Wall Street expects to see, especially given the sales of its Blackwell chips for artificial intelligence.
According to FactSet, Nvidia is forecast to have revenue of about $38.08 billion and net income of $19.58 billion in the fourth quarter. The company is expected to have adjusted earnings per share of about 85 cents.
Reuters also detailed why this is important for the stock market.
Nvidia has become the second-largest company on Wall Street, second only to Apple in influence. Changes in its share price significantly impact the S&P 500 and other stock indexes. The technology giant, based in Santa Clara, California, has a market value of more than $3 trillion.
Nvidia and other AI companies have been a major driver of the S&P 500's recent gains, helping the market reach record highs. The latest record was set last week despite some market concerns about high inflation and the future of the U.S. economy, especially amid the potential return of Donald Trump and the impact of his economic policies.
