Nvidia is a top holding of iShares' Semiconductor ETF ( SOXX). This shortage has had an effect on everything from personal computer availability to automobile manufacturing. Nvidia is one of the top names of the semiconductor industry, which has been plagued by shortages since the beginning of the COVID-19 pandemic. Recent Semiconductor Industry Performance

The share price has recently drifted higher as investors consider that Nvidia rival AMD produced better-than-expected earnings results.

Call and put open interest appears to be positioned for the share price to rise in the near term.

Calls are priced higher than puts after accounting for intrinsic value.The share price has recently closed slightly above its 20-day moving average.Traders and investors bid up the share prices of Nvidia ahead of the company's earnings report.Efforts to drive further gains in the post-Covid era, such as boosting enterprise sales and new offerings like Phone and WhiteBoard, may not be enough to sustain growth due to rising competition from Microsoft Teams and slowing IT budgets at smaller business clients, according to Citi analysts who downgraded its shares to sell this week. The video conferencing provider is likely to see y/y revenue growth drop into the single digits for the first time since it went public, based on the company’s own forecast and consensus estimates, as a weakening economy and broader return-to-office trends cut into sales. Monday: Zoom Video ( ZM US) will report after-market. Reports next week will give investors further insight into the second-half for retailers, chipmakers and software providers as the peak earnings period draws to a close. Yet evolving shopping behaviors across the income spectrum, along with price markdowns from excess inventory, are contributing to the highest proportion of earnings misses for the consumer discretionary sector than elsewhere in the S&P 500 this season. Better-than-expected US retail sales data and upbeat outlooks from Walmart and Target this week demonstrated the resilience of the American consumer amid hyperinflation and rising rates.

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