NVIDIA (NVDA) will report its Q3 results after today's closing bell, followed by the management's conference call at 17:00 ET.

The Capital IQ consensus expects the chipmaker to report a 52.1% yr/yr jump in EPS to $1.11 on a 44.2% yr/yr jump in revenue to $6.813 bln.

The company guided for Q3 revenue between $6.66 bln and $6.94 bln when it reported Q2 results on August 18.

Product shortages are restraining growth, therefore, management is expected to highlight its Omniverse platform for design collaboration and outcome simulation.

Any commentary about the acquisition of ARM Holdings, which is being delayed by British regulators, would be of interest.

TECHS:

Citigroup raised its target for the stock to $350 from $223.
Wedbush downgraded the stock to Neutral from Outperform with a $300 target
Summit Insights upgraded the stock to Buy from Sell

Expectations are very high into the report. NVDA has performed better than almost every tech stock not named Tesla in the last couple of months. The rallied 50% in a little over a month into this print.

NVIDIA trades at 65.4x forward earnings expectations, a premium to AMD.

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