Nvidia, Lowe's, and 3 Stocks to Watch Heading into Wednesday

As we head into the final trading day of the week, investors are keeping a close eye on several key stocks that could provide valuable insights into the market's direction. Among them are Nvidia (NVDA), Lowe's Companies (LOW), and three other stocks that have been making waves in recent weeks. Let's dive into the latest developments and what to watch for in these companies.

Nvidia, the AI chipmaker, is set to report its fourth-quarter earnings after the market close on Wednesday. Analysts expect the company to post another quarterly sales record, driven by strong demand for its advanced chips. The chipmaker's stock has been on a tear, up nearly 9% year-to-date, and analysts are widely bullish, with all but one issuing a "buy" or equivalent rating. The consensus price target of about $175 would imply 32% upside from Monday's intraday price. Investors will be watching for any updates on Nvidia's AI chip production, as well as its outlook for the coming quarters.

Lowe's Companies, the home improvement retailer, reported mixed third-quarter results, with net earnings of $1.7 billion and diluted earnings per share (EPS) of $2.99. Total sales for the quarter were $20.2 billion, compared to $20.5 billion in the prior-year quarter. Comparable sales for the quarter decreased 1.1%, driven by continued softness in DIY bigger-ticket discretionary demand, which was partly offset by storm-related sales and positive comparable sales in Pro and online. Investors will be looking for an improvement in comparable sales growth, driven by increased demand for DIY projects and continued growth in the Pro and online channels. Lowe's gross margin trends, inventory management, capital expenditure, and guidance will also be closely scrutinized in the upcoming earnings report.

In addition to Nvidia and Lowe's, three other stocks to watch heading into Wednesday are:

1. Amazon.com (AMZN): The e-commerce giant is expected to report fourth-quarter earnings on Thursday, with analysts forecasting revenue of $141.5 billion and EPS of $0.30. Investors will be watching for updates on the company's AI initiatives, as well as its outlook for the coming quarters.
2. Microsoft (MSFT): The software giant is set to report fourth-quarter earnings on Tuesday, with analysts expecting revenue of $52.4 billion and EPS of $2.32. Investors will be looking for updates on the company's AI and cloud initiatives, as well as its outlook for the coming quarters.
3. Tesla (TSLA): The electric vehicle maker is expected to report fourth-quarter earnings on Wednesday, with analysts forecasting revenue of $24.6 billion and EPS of $0.86. Investors will be watching for updates on the company's production and delivery numbers, as well as its outlook for the coming quarters.

As we head into the final trading day of the week, investors will be closely watching these key stocks for any signs of strength or weakness in the market. With earnings season in full swing, there will be plenty of opportunities to capitalize on the latest developments and make informed investment decisions. Stay tuned for more updates and analysis as the market continues to evolve.