NVDA - Nvidia Stock's Next Big Catalysts Could Come on May 22. Should You Buy Shares Before Then?
2024-05-16 08:00:00 ET
Nvidia (NASDAQ: NVDA) stock is having another great year. In 2024, shares of the artificial intelligence (AI) tech giant have gained 91.9% through May 15, crushing the S&P 500 index's 11.9% return. The stock's longer-term performance is even more stunning, as it turned an investment of $5,000 into nearly $1 million over the last decade through April 29 .
A catalyst that might propel Nvidia stock higher is coming on Wednesday, May 22, after the market close. That's when the company is scheduled to release its results for its quarter ended on April 28.
Given Nvidia stock's fantastic recent performance, expectations are high and built into the stock price. For the stock to rise after the report, the company will likely have to at least comfortably beat Wall Street's estimates for the quarter and issue guidance for the next quarter that's notably higher than analysts are projecting.
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Nvidia Stock's Next Big Catalysts Could Come on May 22. Should You Buy Shares Before Then?