Nvidia earnings impact: can 100% growth halt the tech selloff?

Wall Street is walking into one of the most consequential weeks of the year, and the phrase “Nvidia earnings impact” is about to take on very literal meaning. The chipmaker reports quarterly results after the bell on August 26, right as bond market volatility chips away at the AI trade that has powered stocks for months. Two days later, new Fed Chair Kevin Warsh steps up for his first major public address at the Jackson Hole Economic Symposium. Squeezed in between, a fresh inflation reading could tip the scales either way.

Key takeaways

• Nvidia is expected to post roughly 100% year-over-year growth in both revenue and earnings per share when it reports on August 26.
• The Philadelphia Semiconductor Index fell 5.5% last week as rising long-term Treasury yields triggered a rotation out of momentum and tech names.
• Kevin Warsh delivers his first keynote as Fed Chair at Jackson Hole on August 28 at 10 a.m. ET.
• July’s PCE inflation is expected near 3.6% year-over-year, well above the Fed’s 2% target.
• CrowdStrike and Salesforce also report earnings this week, adding secondary signals on enterprise tech spending.

Nvidia’s Earnings and the AI Investment Test

Nvidia’s report will function as the market’s clearest read yet on whether the AI buildout still has legs, and the numbers on the table are enormous. Wall Street analysts expect the company to nearly double its business year-over-year, a scale of growth few companies of Nvidia’s size have ever sustained this long.

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