Nvidia's Huge Earnings Day Could Boost Nasdaq Higher
Chipmaker Earnings Season to Conclude With Nvidia Report
The tech sector's impressive earnings season comes to a close on Wednesday afternoon with the release of Nvidia's fiscal first-quarter results. Investors are anticipating a strong performance from the chipmaker, and a positive report could provide a boost to the Nasdaq, which has been slipping ahead of the earnings announcement.
Nvidia Announces Stock Split in Earnings Report
In its quarterly earnings report, Nvidia also announced a stock split. Each common share will be split into 10 smaller shares, which could make the stock more affordable for individual investors and boost demand for the shares.
Analysts Expect Strong Results From Nvidia
Analysts are expecting Nvidia to report strong results for the quarter. The company is expected to report earnings per share of $1.28 on revenue of $8.1 billion.
The strong earnings season for big tech has been a welcome sign for investors after a difficult 2022. A positive report from Nvidia could provide further evidence that the tech sector is on the mend and could help to boost the Nasdaq higher.
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