Nvidia Shares Trade Sideways Ahead of Crucial Earnings Report

Nvidia's shares have traded in a narrow range over the past two months, indicating a lack of consensus among investors on its future course.

The chipmaker is set to report Q4 earnings after the markets close on Wednesday, which could significantly impact the market.

A key valuation metric for Nvidia has fallen sharply, making shares more attractive on paper. However, retail investors remain cautious, with a bearish sentiment on Stocktwits.

Analysts are still optimistic about Nvidia's prospects, recommending 'Buy' and predicting an average price target of $259.88, implying an upside of 34%.