PREVIEW: Nvidia flat with earnings on tap
Nvidia NVDA.O shares edge up 0.2% to $135.72 ahead of Q1 results due after the closing bell on Wednesday
The chipmaker is expected to report quarterly EPS of 93 cents on revenue of $43.28 bln, per LSEG data, vs yr-ago results of 61 cents per share and $26.04 bln in revenue
Investors will look for concrete answers as to how much U.S. chip curbs on China will cost the company in its results, even though easing regulations are expected to open up new markets
NVDA has topped both EPS and revenue expectations for at least the last eight quarters
Of the 64 analysts that cover NVDA, the breakdown of recommendations is 56 "strong buy" or "buy," 7 "hold" and 1 "sell" rating
Median price target of $168 is down $1 from a month ago
NVDA shares up 1.0% YTD vs 0.8% decline in Dow Industrials .DJI
NVDA options imply an 6.6% swing for the shares, on Thursday, according to options analytics service ORATS; that's just below the 7.7% average move the stock has logged on the day after results over the 12 quarters
Defensive options contracts for the VanEck Semiconductor ETF SMH.O drew heavy trading ahead of NVDA's results as traders braced for industry-wide volatility
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