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Key Points
- Wall Street expects fiscal Q3 revenue to jump 44% year over year.
- Analysts also project adjusted EPS will surge 52%.
- The metaverse is likely to be one key topic on the earnings call.
Investors in the graphics chip specialist are probably feeling optimistic about the report. The company has beaten Wall Street’s consensus earnings estimate in at least the past five consecutive quarters. Moreover, many investors are enthused about the company’s potential to be one of the major players in the emerging metaverse, a “highly immersive virtual world where people gather to socialize, play, and work,” in the words of Merriam-Webster. Indeed, Nvidia has described its recently launched Omniverse as “the ‘plumbing’ on which metaverses can be built.”
Investors have been piling into Nvidia stock. In 2021, shares have returned 133% through Nov. 12. The S&P 500 index has returned 26.2% over this period.
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