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 is likely to have big implications for the entire stock market, the firm said.
The share price reaction will likely cause a ripple effect, he said.
Over the past year, Nvidia's stock has had an "almost unimaginably close" day-to-day correlation to the S & P 500 of 0.95, he pointed out.
which helped catalyze 2023's S & P 500 Fall Fall … the one certain thing is that NVDA's share price reaction, while difficult to gauge, will have consequences for the S & P 500 as a whole," Emanuel said.
Persons:
NVDA, Julian Emanuel, Emanuel
Organizations:
Nvidia, ISI