Stocks such as Palantir Technologies , Taiwan Semiconductor Manufacturing and Super Micro Computer are among the names most correlated to Nvidia’s post-earnings fate. Graphics processing unit maker and artificial intelligence poster child Nvidia next reports earnings after the market closes on Wednesday. LSEG consensus shows that analysts estimate Nvidia will earn $1.25 per share, which would suggest a 54% increase versus the same period a year ago. Analysts also predict revenue to come in at $55 billion, which would be a 57% year-over-year increase. If Nvidia reports positive results, as analysts predict, its stock valuation and market capitalization could rise as a result. Other names that are very correlated with Nvidia could also climb. CNBC Pro screened for the S & P 500 names most correlated to Nvidia over the past 60 days using data from LSEG. With a correlation of 57%, Taiwan Semiconductor Manufacturing was one name on the list. The stock has surged 41% this year. On Monday, Bank of America reiterated its buy rating on the stock and raised its price target to $390. This revised target implies an upside of 38% ahead. Analyst Haas Liu called Taiwan Semiconductor an “underappreciated proxy for the secular AI growth trend.” “Our conviction in TSMC has strengthened backed by our analysis on the advanced semis supply and HPC demand in our industry report,” Liu wrote. “With continued earnings upgrades and room for re-rating, we reiterate our Buy rating and raise our [price objective] from NT$1,800 to NT$1,960 (US$390/ADR) on 20x 2027E P/E (vs. 20x 2026E P/E prior).” Super Micro Computer has a 60-day correlation of 55% with Nvidia. The server maker has popped 15% this year. Earlier this month, Argus upgraded the stock to a buy rating from hold. The firm also established a 12-month target price of $64 per share, which implies an upside of 88% from here. “In our view, missteps by the company on revenue delivery and margin shortfalls are fully reflected in the share price, while the potential for strong forward momentum is being overlooked,” wrote analyst Jim Kelleher. “We believe the shares are undervalued based on growth prospects ahead.”
