Nvidia is set to report earnings Wednesday. These stocks could be moved by the results

Nvidia reports earnings after the close Wednesday with LSEG consensus expecting $1.25 a share (up 54% year-over-year) and $55 billion in revenue (up 57% YoY); a positive print is likely to lift Nvidia’s valuation and could spill over to highly correlated S&P names. CNBC Pro’s screen using LSEG data highlights Taiwan Semiconductor Manufacturing (57% 60-day correlation, +41% YTD) and Super Micro Computer (55% correlation, +15% YTD) as particularly sensitive to Nvidia’s post-earnings trajectory. Bank of America reiterated a Buy on TSMC and raised its price target to $390 (implying ~38% upside), calling it an “underappreciated proxy for the secular AI growth trend,” while Argus upgraded Super Micro with a $64 target (~88% upside), signaling analyst conviction that AI-driven demand could drive further re-rating in chip and server suppliers if Nvidia’s results validate strong end-market momentum.

Analysis

Nvidia is scheduled to report earnings after the market close on Wednesday with LSEG consensus at $1.25 in EPS (a 54% year‑over‑year increase) and $55.0 billion in revenue (up 57% YoY). The article notes analysts expect a positive print could lift Nvidia’s valuation and market capitalization, and that outcome would likely produce spillover gains for closely correlated S&P names.

CNBC Pro’s 60‑day correlation screen highlights Taiwan Semiconductor Manufacturing (57% correlation) and Super Micro Computer (55% correlation) as most sensitive to Nvidia’s post‑earnings trajectory. TSMC has rallied 41% year‑to‑date and Bank of America reiterated a Buy and raised its target to $390 (implying ~38% upside), citing TSMC as an "underappreciated proxy" for secular AI growth and modeling a 20x 2027E P/E; Super Micro is up 15% YTD and was upgraded by Argus to Buy with a $64 target (implying ~88% upside).

The piece signals a moderately positive market tone (sentiment score 0.55, market impact 0.6), but also emphasizes execution risk for suppliers—Argus explicitly flags revenue delivery and margin shortfalls at Super Micro as potential constraints. Nvidia’s actual beat or miss, plus its forward guidance and subsequent analyst revisions, will be the proximate drivers of re‑rating or downside across these correlated semiconductor and server names.

Key Decisions for Investors

• Avoid initiating large directional positions in Nvidia or its correlated suppliers immediately before the print; favor short‑term hedges or reduced sizing to manage earnings‑driven volatility
• Consider adding or maintaining exposure to Taiwan Semiconductor on strength given BofA's reiterated Buy and ~38% implied upside, but verify advanced‑node demand and valuation assumptions underpinning the target
• For Super Micro, consider selective exposure or bullish option structures to capture upside implied by Argus's $64 target while actively monitoring revenue delivery and margin execution risk
• Monitor Nvidia's actual results, guidance and subsequent analyst revisions closely after the close and use post‑earnings liquidity to rebalance or hedge correlated semiconductor and server positions if moves accelerate