Quick Take

The financial world is eagerly awaiting NVIDIA’s Q2 earnings report today, a reflection of the critical role this technology giant plays in influencing the broader market dynamics. With an expected EPS of 2.09 and a projected revenue of $11.08 billion, the stakes are high. According to Bloomberg, the Nasdaq has risen a substantial 36.3% YTD, with NVIDIA contributing significantly to this rally. NVIDIA’s own performance has been stellar, boasting an impressive 220% increase.

The data compiled by Bloomberg also highlights the concentrated influence of a handful of tech behemoths on the Nasdaq’s performance. NVIDIA, along with Microsoft, Apple, Amazon, and Meta, collectively account for two-thirds of all Nasdaq’s 36% gain YTD. This data underscores these tech giants’ sway and …