(BFM Bourse) – The flagship index of the Paris Stock Exchange dropped 0.43% this Wednesday as the market awaits the publication of the graphics processor manufacturer.
Investors avoided risk taking this Wednesday. The CAC 40 thus changed little during the session and ended slightly down 0.43% at 7,198.45 points.
The market is holding its breath a few hours before the publication of Nvidia's third quarter results.
The specialist in graphics processors and now the world's largest capitalization will deliver its accounts after the close of Wall Street this Wednesday evening.
The company's results will be closely scrutinized by investors, as they are seen as an important barometer of the growth of generative artificial intelligence (AI).
“Nvidia plays a crucial role in stock indexes, accounting for a quarter of the S&P 500's gains in 2024, underscoring its major market influence. Its dominance in the AI sector and exceptional performance place the company at the center of the attention of investors, making fluctuations in its stock particularly sensitive,” explains John Plassard, investment advisor at Mirabaud.
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Target and Elior dive
According to a consensus cited by Business Insider, analysts expect revenues of $33.25 billion for Nvidia in the third quarter, including $29.14 billion for the “data center” segment, which is benefiting from the surge in demand. of the group's chips to develop generative AI. Analysts also forecast earnings per share of 74 cents and are banking on revenues, for the fourth quarter this time, of $37.1 billion.
The market will also be watching management's comments on its new Blackwell chip ecosystem. According to The Information, these chips are experiencing overheating problems that some major Nvidia customers have complained about.
While waiting for Nvidia's results, several titles stand out. On Wall Street, Target collapsed nearly 22% after lowering its profit target following a disappointing third quarter.
On the Paris Stock Exchange, Edenred signed the best performance of the CAC 40, gaining 2% thanks to Jefferies which raised its advice to “hold” against “underperformance” previously.
STMicroelectronics fell 1.2% after announcing a three-year delay in its $20 billion revenue target. The group now plans to reach it in 2030 and no longer in 2027.
Excluding the CAC 40, Elior plunged 24.3%, penalized by a weak outlook for its 2024-2025 financial year. FDJ lost 4.4%, after Crédit Agricole Assurances sold 2.2% of its capital at a price of 36.6 euros per share, a discount of around 7% compared to Tuesday's closing price. .
On other markets, the euro lost 0.8% against the dollar at 1.0516 dollars. Oil changes little. The January contract on North Sea Brent gained 0.1% to $73.40 per barrel while the December contract on WTI listed in New York gained 0.4% to $69.64 per barrel.
Julien Marion – ©2024 BFM Bourse
