Nvidia Corp. (NASDAQ:NVDA) is in the spotlight this week as it prepares to report its first-quarter 2024 earnings on Wednesday. This announcement marks the first anniversary of its remarkable first-quarter 2023 earnings, which ignited an AI-driven rally in the chipmaker industry. The consensus among Wall Street analysts predicts Nvidia to report an earnings per share (EPS) of $5.60, more than five times the EPS from the same quarter last year. Revenue projections are similarly optimistic, with expectations set at $24.59 billion, over three times the revenue in Q1 2023. As Bank of America noted in a recent note, since the ‘blowout’ Q1 2023, Nvidia’s market capitalization has surged by $1.5 trillion. The company’s last twelve months (LTM) EPS has skyrocketed by 617% year-over-year, and mentions of AI during corporate earnings calls have increased by 186%. Yet, the AI-driven gains initiated by Nvidia are now expected to extend beyond the chipmaking sector to encompass power, commodities, and utilities, according to Bank of America’s analysts. ‘It’s not just about Nvidia anymore,’ Ohsung Kwon, CFA, equity and quant strategist at Bank of America, stated. ...