NVIDIA Corp. is set to release its next quarterly results, and the outcome is not only important for the company itself but also for six other AI-related stocks that have historically seen positive reactions when NVIDIA exceeds expectations. These stocks include Super Micro Computer Inc., Advanced Microdevices Inc., Marvell Technology Group Ltd., Vertiv Holdings Co., Sinopsys Inc., and Advantest Corp. Following NVIDIA’s strong gains in the past, these US-listed stocks have shown gains ranging from 6% to 33%.
Super Micro Computer, a technology infrastructure company, has seen its shares rise over 900% in the past year, benefitting from the AI investment trend. AMD, as NVIDIA’s main competitor, has also experienced stock growth following NVIDIA’s earnings, indicating sustained investor interest in GPU companies. Advantest Corp, the world’s largest microchip tester, has also seen significant growth due to the AI-driven rebound.
The AI industry has been a key driver of growth for many companies, with NVIDIA playing a central role. Despite some skepticism about NVIDIA’s future growth potential, the company’s results continue to impress investors. The first quarter earnings cycle has seen notable growth acceleration, particularly in the technology sector, despite reports of Amazon halting orders of NVIDIA’s “superchip.”
The AI industry continues to attract significant investments, as highlighted by WisdomTree’s global chief investment officer Jeremy Schwartz, who emphasized the transformative potential of AI in various industries. Overall, the upcoming quarterly results of NVIDIA are expected to have a significant impact not only on the company itself but also on the broader AI-related stock market.
In conclusion, NVIDIA’s quarterly results are closely watched not only by investors in the company but also by those interested in AI-related stocks. The performance of NVIDIA has historically had a positive impact on a group of six AI-related stocks, which have shown gains following NVIDIA’s strong earnings. Despite some challenges, such as Amazon’s reported halt in orders, the AI industry continues to attract investments and is seen as a key driver of growth in various sectors.
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https://www.benzinga.com/markets/equities/24/05/38955655/nvidias-success-may-propel-these-6-ai-related-stocks-to-new-heights
