Nvidia could see a $298 billion fluctuation in market value following its second-quarter earnings report, based on recent options pricing data from Goldman Sachs. This could translate to a 9% swing in either direction for the $3.17 trillion chip maker’s stock.
Goldman notes that expectations are lower this earnings season, suggesting that Nvidia could surprise the market with strong results or guidance, potentially leading to a significant stock movement. Nvidia holds the record for the largest one-day market value change, with a $330 billion swing in July.
Investor positioning indicates that many could be caught off guard if Nvidia’s stock rises. As the second-largest company in the S&P 500, Nvidia’s performance could impact the broader market, with its influence extending to related stocks like Tesla and AMD.