NVIDIA's stock price remains in a tight range as the company prepares to release its fourth-quarter earnings on February 25. The stock has been trading between $170 and $193 since November, following a decline from its all-time high of $212. Analysts are closely watching the upcoming earnings report, which is expected to provide insights into the company's performance and future guidance.
Recent financial results from key partners, such as TSMC and major clients like Microsoft, Google, Meta Platforms, and Amazon, suggest a strong quarterly performance for NVIDIA. Analysts anticipate a 71% year-over-year increase in revenue to $65 billion, with earnings per share expected to rise over 40% to $1.5. Forward guidance, particularly regarding NVIDIA's business in China and the ongoing memory chip shortage, will be crucial in determining the stock's direction.
Technical analysis indicates a potential bearish breakout, with the stock forming a head-and-shoulders pattern. A drop below $170 could lead to further declines, while a rise above $193 would challenge the bearish outlook. Investors are advised to monitor the earnings release and management's guidance closely.
NVIDIA Stock Poised for Movement Ahead of February 25 Earnings
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