Nvidia beating earnings per share expectations is worst-kept secret on Wall Street, says Evercore ISI

Wall Street has great expectations for Nvidia 's earnings on Wednesday, according to Evercore ISI. Yet how the artificial intelligence darling's stock will react is less clear — and it's likely to have big implications for the entire stock market, the firm said.

mountain Nvidia's one-year performance The stock price reaction is complicated by several factors, including the recent "Animal Spirits" that have been stirred up in the market with the meme stock trades , Emanuel explained. At the same time, volatility remains low — with the Cboe Volatility Index , or VIX, around 12 — and the S & P 500 trading at a "very lofty" 23.5 times last-twelve-month earnings, he said.

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