Prediction market traders are increasingly bullish on Nvidia Corp. (NASDAQ:NVDA) ahead of its closely watched first-quarter earnings report, with Polymarket data showing strong expectations that the AI chip giant’s stock could climb beyond $240 by the end of May.
Polymarket Traders Signal Nvidia Stock Rally After Earnings
Nvidia, scheduled to report first-quarter earnings on May 20, has become a focal point for traders as shares hover near record highs following a meteoric rise that pushed its valuation to roughly $5.46 trillion.
On Polymarket, the largest share of bets points to Nvidia stock reaching at least $240 this month, with traders assigning a 54% probability to that outcome.
Other bullish positions include a 37% chance of shares topping $248 and a 45% probability of crossing $256.
Meanwhile, bearish bets remain comparatively muted, with significantly lower odds placed on sharp downside scenarios.
Nvidia Earnings Expectations Fueled By AI Demand
Wall Street analysts expect Nvidia to report earnings per share of $1.76 on revenue of $79.08 billion. The company has beaten earnings estimates for eight consecutive quarters.
In February, Nvidia posted fourth-quarter revenue of $68.13 billion, marking a 73% increase from a year earlier and surpassing Wall Street estimates of $66 billion.
Strong financial performance from key suppliers such as Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) and Hon Hai Precision, alongside robust capital expenditure plans from major Nvidia customers, including Microsoft Corp (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN) and Meta Platforms, Inc. (NASDAQ:META) have further strengthened bullish sentiment.
China Sales, Vera CPUs And Strategic Investments Add Growth Catalysts
Additional optimism stems from potential sales of H200 chips to select Chinese firms, which could unlock new revenue streams later this year.
Nvidia’s planned launch of its Vera CPU platform also signals deeper expansion into AI infrastructure markets beyond graphics processors.
Price Action: Nvidia shares closed at $225.32 on Friday, down 4.42%, but gained 11.51% over the past month and 19.31% year to date, according to Benzinga Pro.
Benzinga Edge Stock Rankings place Nvidia in the 98th percentile for Growth and the 97th percentile for Quality, while its stock maintains a strong positive price trend across short, medium and long-term time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Tigarto on Shutterstock.com
Recent Comments