"CEO Jensen Huang's recent keynote at GTC Washington D.C. outlined the company's ongoing positioning as the backbone of AI infrastructure underpinned by more than $500bn in cumulative order book for Blackwell and Rubin infrastructure spanning 2025-2026,"
"With consensus (and our) expectations incorporating Mr. Huang's commentary, expectations remain elevated."
The S&P 500 dropped below its 50-day moving average that had served as support since early August, with a 39-point premarket decline that could set up a test of 6,550. The SPDR S&P 500 ETF (SPY) is down roughly three points, while Dow futures fell about 411 points and Nasdaq futures about 217. Markets face pressure from AI bubble concerns and lower odds of additional Federal Reserve rate cuts, and the Shiller P/E ratio is beginning to reverse from its second-highest historical peak. Analysts remain bullish on Nvidia ahead of earnings, with multiple firms reiterating buy ratings and raising price targets and revenue expectations. Bitcoin briefly fell below $90,000.
Read at 24/7 Wall St.
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