Posted 2/21/2024, 5:02:00 PM
Nvidia Earnings Could Trigger Pullback in Stock and Crypto if Growth Expectations Aren't Met
- Nvidia's Q4 earnings release today could trigger a broader correction in equities and crypto if expectations are not met
- Nvidia stock has rallied 220% in the past year and is trading at a 90x P/E ratio, so there is little room for earnings disappointment
- AI-related cryptos like OCEAN and FET may also be impacted by Nvidia's earnings and outlook
- While PC shipments are slowing, data centers and server demand are key growth drivers for Nvidia
- Bitcoin is trading around $51,200, down slightly over the past 24 hours