Tech stocks today: All eyes on Nvidia as Meta trial resumes

Wall Street is eagerly anticipating Nvidia's second quarter earnings, as it marks a crucial moment for the company's share value following the surge in AI investments. Despite its peers reporting results earlier, Nvidia will unveil its Q2 performance after the market closes on Wednesday. Analysts predict that Nvidia will report an adjusted earnings per share (EPS) of $2.09 and revenue of $92 billion, reflecting a staggering 96% year-over-year revenue growth and ongoing quarter-over-quarter acceleration.

Meanwhile, Meta Platforms, the parent company of Facebook, is set to resume its social media addiction trial in Oakland, California. The trial resumes today after a previous hearing was delayed due to a sick juror. Thirty-nine state attorneys general are challenging Meta over allegations that the company intentionally designed its services to keep children online for extended periods, leading to psychological harm. The lawsuit, a key test case for the broader class-action suit, involves attorneys general from four states.

Meta asserts that the trial could expose it to potential damages totaling up to $1.4 trillion. However, the state attorneys general dispute this figure, highlighting the contentious nature of the legal battle.