By Fred Imbert
Publication Date: 2025-11-19 14:16:00
Nvidia’s big earnings day is here, and the bar is high for the chipmaker’s stock to get a boost from its upcoming results. As of Tuesday afternoon, analysts polled by LSEG expected Nvidia to post third-quarter revenue of $54.92 billion. For the company’s fiscal fourth quarter, those covering the stock expect topline guidance of about $61.66 billion. Those revenue figures point to more than 56% year-over-year growth for both periods. But traders at JPMorgan think the so-called whisper numbers are even higher. “Survey says $56.32b & $63.02b” for fiscal third and fourth quarters, respectively. That would be a $1.4 billion beat for Q3 and fourth-quarter guidance exceeding the consensus by $1.36 billion. “If feels increasingly like the weight of the world is on NVDA,” said JPMorgan’s trading desk. “On the one hand, people seem to be positioned for a beat and raise … Yet the stock has substantially de-rated, and completely round-tripped the $500b slide from [GPU Technology Conference in Washington, D.C. in late October.] Folks worry that NVDA will become a share donor, and that outperformance becomes harder as the stock becomes larger.” The options market suggests Nvidia shares could move more than 6% in either direction after the release, according to Wolfe Research. Nvidia shares have struggled lately, losing more than 10% so far in November as concern over a possible artificial intelligence bubble pressured the chipmaker. The stock is also lagging fellow AI plays AMD and…
