Stock Market Live November 19: S&P 500 (SPY) Running with Nvidia Earnings Ahead

• Analysts expect NVDA to station EPS of $1.25 connected $54.83 cardinal successful sales, which would beryllium a 56% leap twelvemonth implicit year.

• According to Wolfe Research, arsenic quoted by CNBC, “We proceed to judge that concerns implicit an AI bubble bursting are overblown…at slightest for now.

• Stifel reiterated its bargain standing connected the tech elephantine with a terms people of $250 from $212 a share.

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After days of swimming successful red, the S&P 500 is up astir 12 points successful the pre-market.

The SPDR S&P 500 ETF (SPY) is up astir 2 points.

Meanwhile, the Dow is up 38 points, arsenic the NASDAQ tacks connected astir 74 points. All arsenic investors hold for the latest net results from Nvidia (NASDAQ: NVDA) to gauge the wellness of tech and the AI boom.

At the moment, analysts expect NVDA to station EPS of $1.25 connected $54.83 cardinal successful sales, which would beryllium a 56% leap twelvemonth implicit year. Analysts are besides looking for guidance of $ 61.88 cardinal successful income for the adjacent quarter.

But again, we’re not buying into it. And neither is Goldman Sachs.

As noted by Quartz.com, “The fiscal services company, successful a enactment to investors this week, said that it believes the AI communicative is conscionable getting started — and the investments that look immense contiguous volition beryllium dwarfed by the benefits AI volition deliver.

JPMorgan’s Mary Callahan Erdoes added, “AI is presenting opportunities not afloat appreciated oregon understood yet,” arsenic noted by CNBC. “AI itself is not a bubble. That’s a brainsick concept… We are connected the precipice of a major, large gyration successful a mode that companies operate.”

In addition, according to Wolfe Research, arsenic quoted by CNBC, “We proceed to judge that concerns implicit an AI bubble bursting are overblown…at slightest for now. We stay buyers of AI-related stocks connected stock terms weakness, but [we’re] waiting for either an upside NVDA astonishment oregon much washed-out method to go much assertive buyers.”

Stifel reiterated its bargain standing connected the tech elephantine with a terms people of $250 from $212 a share.

“CEO Jensen Huang’s caller keynote astatine GTC Washington D.C. outlined the company’s ongoing positioning arsenic the backbone of AI infrastructure underpinned by much than $500bn successful cumulative bid publication for Blackwell and Rubin infrastructure spanning 2025-2026,” said the firm, arsenic quoted by CNBC. “With statement (and our) expectations incorporating Mr. Huang’s commentary, expectations stay elevated.”