Investors are eagerly awaiting Nvidia’s (NVDA) third-quarter results, which will be released on Wednesday, November 20. Independent Solutions Wealth Management portfolio manager Paul Meeks joins Catalysts to discuss his outlook on the report.
Meeks points out that while Nvidia has continued to outperform expectations each quarter, the earnings beats have been decreasing in recent quarters.
“A lot is expected of Nvidia, and they’re gonna have to beat the estimates by even more. Let’s get back to a double-digit percentage increase beat, and then I think people will feel more comfortable,” he tells Yahoo Finance. Despite this, he doesn’t see demand slowing at the company, stating, “Nobody else is as close as they are to making these chips.”
Regarding competition, Meeks foresees Nvidia continuing to be a frontrunner in the space. However, he does point to Advanced Micro Devices (AMD), believing the company can “get its act together and be a viable second source.”
However, when it comes to overall market share, Meeks states, “Nvidia will continue to have the biggest slice of that pie.”
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This post was written by Angel Smith
