NVIDIA (NASDAQ: NVDA) Earnings
NVIDIA is set to report earnings on November 21, 2023 for Q3 2024.
Analysts estimate EPS of $0.58, down from $1.17 in Q3 2023.
Revenue growth is expected to slow substantially, with Q3 2024 revenue estimated around $5.8 billion compared to $7.1 billion in Q3 2023.
NVIDIA dominates the market for AI/deep learning chips, controlling around 80% market share.
Its growth is highly dependent on demand for AI applications like ChatGPT.
Further U.S. export restrictions on AI chips to China pose a risk for NVIDIA’s growth. The company gets 20-25% of data center revenue from China.
NVIDIA’s results will significantly impact the overall semiconductor sector. Its stock performance tends to lift other chipmakers like AMD (NASDAQ: (AMD), Intel (NASDAQ: INTC), and Qualcomm (NASDAQ: QCOM).
Lowe’s (NYSE: LOW) Earnings
Lowe’s is scheduled to report earnings on November 21, 2023 for Q3 2023.
The EPS estimate is $3.06, compared to $3.27 in Q3 2022.
Revenue is projected to decline to $21.14 billion from $23.5 billion in Q3 2022, reflecting slowing consumer spending.
Lowe’s results will be compared to Home Depot, which recently beat Q3 expectations. Home improvement spending remains dependent on housing market.
Lowe’s growth initiatives like increasing Pro penetration and expanding online sales will be key areas to watch.
Performance will impact consumer discretionary stocks and measure consumer health. Lowe’s also competes with companies like Home Depot and Target.
In summary, both companies’ earnings will have significant implications for their respective sectors. NVIDIA’s AI exposure makes its results especially noteworthy.
by Steve Macalbry
Disclaimer: This article is intended for informational purposes only. It should not be considered financial or investment advice. We do not hold any form of equity in the securities mentioned in this article as of 11/19/2023. Always consult with a certified financial professional before making any financial decisions.