NEW YORK (AP) — How much hype is left in Nvidia's stock? Anyone with an S&P 500 index fund is hoping to get an answer to that weighty question next week
? Anyone with an S&P 500 index fund is hoping to get an answer to that weighty question next weekWhen Nvidia reports its latest quarterly results on Wednesday, analysts are looking for its revenue to have surged to $28.65 billion in the spring, up 112% from a year earlier. That would tower over the 5% growth in revenue that S&P 500 companies overall are likely to deliver for the quarter, according to FactSet.
Combined with Nvidia's big size, the blistering performance meant the chip company accounted for nearly 30% of the S&P 500's total return for the first six months of the year. All that from just one of the 500 companies in the index, or 0.2% of its membership. Nvidia's slide helped drag the S&P 500 down nearly 10% from its all-time high set last month. On some days, the S&P 500 fell even though the majority of stocks across Wall Street were rising. Drops for Nvidia andThe drops wrung out “some of the excesses” after traders crowded into bets on Nvidia and a handful of other Big Tech stocks, according to Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.
Defence services firm Serco has landed a $320m contract to build an emergency power station at a top secret nuclear monitoring base in Thule, Greenland’s northernmost town.President Vladimir Putin on Thursday accused Ukraine of trying to strike Russia's Kursk nuclear power plant in an overnight attack and said Moscow had informed the U.N. nuclear safety watchdog about the situation.
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