Overview

• With results due Aug. 27, investors describe the report as a key bellwether, saying sentiment has turned on edge after a hot AI-led run.
• The tech sector has fallen roughly 3% this week, pulling the S&P 500 off record levels as some investors rotate toward defensive groups.
• Consensus from LSEG points to a 48% EPS increase on $45.9 billion in revenue, with demand expectations supported by larger capex plans at Meta, Microsoft, Alphabet and Amazon, which together account for about 40% of Nvidia revenue.
• At least nine analysts raised 12‑month price targets this week, lifting the average to nearly $194, and nearly 90% rate the stock a buy, though any disappointment could have an outsized market impact.
• Nvidia shares weakened after The Information reported the company asked suppliers to halt production related to its H20 chip for China, highlighting ongoing uncertainty around sales there.