Top Catalysts for NVIDIA Stock Price This Week

Key Insights

• NVIDIA stock has jumped in the last two consecutive weeks.
• Top companies like ASML and TSMC will release their earnings this week.
• Anthropic and Nebius inked major deals with hyperscalers recently.

NVIDIA stock price has rebounded in the past two consecutive weeks and is nearing a crucial resistance level. This rebound may continue in the near term, helped by several crucial catalysts, including corporate earnings and its bullish technicals.

NVIDIA Stock to React to Key Corporate Earnings

The first major NVIDIA news to watch this week is the upcoming corporate earnings reports from some of the biggest American companies.

Taiwan Semiconductor, the world’s largest semiconductor manufacturer, will be among the first companies to release its results this week.

Analysts expect the results to show that its revenue continued to rise in Q1 as demand from top companies increased. Precisely, analysts expect revenue of TWD 1.12 trillion, up 33% YoY.

A strong financial report will be bullish for NVDA’s stock price, as it is one of Taiwan Semiconductor’s largest clients. Also, such numbers will provide more signs that the AI boom is accelerating this year.

ASML, another top semiconductor company, will also release its earnings this week. These numbers will be important because they provide more information about AI demand.

With NVIDIA’s earnings scheduled for later next month, traders will use the upcoming results by top companies to gauge the performance of its business.

Some of the top companies that will provide hints about NVIDIA’s business are its major clients, including Microsoft, Google, Amazon, and Meta Platforms, which account for over 50% of its total revenue.

Anthropic Deal With CoreWeave

The other key catalyst for the NVDA stock price is a major deal that was announced last week between Anthropic and CoreWeave, a top neocloud company. This deal will see Anthropic leverage CoreWeave’s infrastructure to train its AI models.

While the amount involved was not mentioned, analysts believe that it will be in the billions of dollars. This is beneficial for NVIDIA in two main ways. First, it will lead to greater use of NVIDIA’s chips, since CoreWeave largely uses them in its data centers.

Second, the deal benefits NVIDIA directly since it is one of the biggest shareholders in CoreWeave. It recently invested $2 billion in the company.

In addition to CoreWeave, NVIDIA also invested in Nebius, a similar company that recently received a $27 billion order from Meta Platforms.

Helium Prices to Jump as Donald Trump Orders Strait of Hormuz Blockade

On the negative side, NVIDIA stock price will react to the ongoing US-Iran conflict. In a statement on Sunday, Trump warned that the US Navy would block the Strait of Hormuz and prevent ships from entering and exiting.

His goal is to punish Iran after the ceasefire talks between the two countries failed. He also wants to cut the amount of money Iran is making through tolls and oil sales. By doing so, Trump expects Iran to ultimately open the Strait and lower oil prices.

This closure will have two main implications. First, it will lead to market volatility as crude oil prices rise. Indeed, US stock market futures retreated during the Asian session.

Second, it may affect NVIDIA’s margins as helium prices continue rising. While the US is the largest helium producer, much of it comes from the Middle East.

NVIDIA Stock Price Technical Analysis

The weekly chart shows that NVDA stock has rebounded over the past two weeks, reaching its highest level since February 23rd.

This rebound may accelerate in the coming weeks as the stock has formed a large bullish flag pattern. It has completed the flagpole section and is now in the flag zone.

NVIDIA has remained above the 50-week Exponential Moving Average (EMA), which has provided it with strong support. Therefore, the rally will likely continue, possibly to the all-time high of $212. A surge above that price will point to more upside this year.

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