Does Jim Cramer’s favorite dog have the bite to back up its bark?
Semiconductor giant Nvidia is set to report quarterly earnings after the bell Wednesday. Wall Street expects Nvidia to report adjusted earnings of $1.98 on revenue of $3.65 billion, according to analysts polled at FactSet.
While most earnings reports are subject to mass scrutiny as investors attempt to gauge the impact of the coronavirus pandemic, Nvidia’s fiscal second quarter is expected to garner particular interest.
Expectations will be high as Nvidia stock is up more than 40% since it last reported results in May. Wall Street will not only be looking for strong results, but also strong guidance for what to expect going forward.
TheStreet’s senior technology columnist Eric Jhonsa suggested to pay particular attention to Nvidia’s Gaming and Data Center, as well as any commentary about cloud spending trends. “With expectations as high as they are, any comments that the company shares about expected October quarter sales will be closely scrutinized," Jhonsa wrote.
Why is Nvidia the belle of the ball when it comes to the semiconductor stocks?
Jim Cramer said no. "Nvidia is a dog," Cramer said.
After his bit of humor, Cramer added that though he doesn't want to jinx the company ahead of earnings, he considers it the modern-day Intel.