Shares of graphics-chip maker Nvidia (NVDA) neared a buy point in early trading on Monday, four days before the company is scheduled to report its fiscal first-quarter earnings.
XNvidia shares were up 1.8%, near 243.40, in premarket trading on the stock market today. Nvidia stock had formed a double-bottom base over the past seven weeks with a buy point of 239.35.
The Santa Clara, Calif.-based company is scheduled to report fiscal first-quarter results after the market close on Thursday.
Analysts expect Nvidia to earn $1.45 a share, up 84% year over year, on sales of $2.89 billion, up 49%, in the quarter ended April 29. Key focus areas of the report will be prospects for graphics processors in data centers, artificial intelligence and cryptocurrency mining.
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For the current quarter, Wall Street is modeling Nvidia to earn $1.47 a share, up 60%, on sales of $2.94 billion, up 32%.
Nvidia also is holding its annual shareholders' meeting on May 16.
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The post Nvidia Stock Nears Buy Point Ahead Of Earnings Report appeared first on Investor's Business Daily.
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