Coach Mark here.

Nvidia’s earnings came in after-the-bell yesterday and in a non-surprising result, the bear expectations with a strong outlook moving forward. Was it the “what just happened, are those real?” type of earnings from a couple of quarters ago? No, it was not but that was widely regarded as one of the best earnings results and changes in forward guidance ever so that is an impossible standard to compare it to.  Make no mistake though, this was a strong earnings report.

As a result, you already are seeing the banks up their price targets on Nvidia. J.P Morgan raised its price target from $600 to $650. Mizuho raised its price target from $595 to $625. You likely will have more banks follow based on the stellar growth story.

Now the question is what will the market’s reaction be today and in the coming days in both Nvidia and tech in general. With one of the major catalyst the rest of the year out of the way, it comes down to technicals, momentum and opportunity. Earnings reactions can be tricky but we will break down all the scenarios in the Halftime Report today.

Have a fantastic Thanksgiving holiday!

NVDA Post Earnings Reaction

Earnings reactions can be tricky even after positive reports. They can be particularly tricky after a stock has run a lot heading into earnings. The intraday price action can be wild (here is NVDA after earnings results and 30 minutes into the open) but in the coming days patterns could emerge after the earnings volatility dies down.

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