Nvidia Earnings: Traders Anticipate 6% Swing in Stock Price

Nvidia is set to release its earnings report on Wednesday afternoon, and traders are expecting significant movement in the stock's price. According to options pricing, traders anticipate a swing of up to 6% in either direction by the end of the week following the results.

The analysts expect sales and profits to roughly double from last year as big tech companies continue to pour billions into AI data centers. Nvidia is projected to report record revenue of $92.38 billion in the second quarter, with adjusted earnings of $2.10 per share.

Despite concerns about an AI bubble weighing on sentiment, analysts remain overwhelmingly bullish on Nvidia stock. In fact, all but one of the 13 analysts tracked by Visible Alpha recommend buying the stock, with a mean target price of $299 - a roughly 40% upside from Tuesday's close.