Nvidia Corp. (NASDAQ:NVDA): Nvidia stock's breakout may be ahead but the company may need to raise guidance for next quarter


Nvidia stock pulled back from the trendline resistance ~ $945 on Friday after Microsoft announced that they will offer their cloud customers clusters of AMD MI300X AI chips, an alternative to Nvidia H100 GPUs. Nvidia Q1FY25 is due on May 22. The market is expecting Q2FY25 earnings to grow more than 120% (~$5.92 per share) and nearly 100% revenue growth (~$27-$28B), per Yahoo Finance. Guidance that meets expectations might not be enough to drive the stock higher.

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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