Nvidia is set to report earnings Wednesday. These stocks could be moved by the results (www.cnbc.com)

Nvidia is set to report quarterly results after the close Wednesday, with LSEG consensus calling for $1.25 in diluted EPS (roughly +54% year-over-year) and about $55 billion in revenue (+57% YoY). Because Nvidia is the market’s AI bellwether, a beat or miss could materially move its valuation and create ripple effects across the chip and server supply chain — especially among stocks that have shown strong short-term price correlation with Nvidia. CNBC Pro’s LSEG-based screen identifies Taiwan Semiconductor Manufacturing (TSMC) and Super Micro Computer among the most correlated S&P 500 names over the past 60 days (TSMC 57% correlation; Super Micro 55%). TSMC has surged ~41% year-to-date and drew an upgraded price target from Bank of America to $390, with analysts calling it an “underappreciated proxy” for AI-driven demand and valuing it on 20x 2027E P/E. Super Micro is up ~15% YTD and was recently upgraded by Argus, which set a $64 target implying ~88% upside, arguing current weakness already reflects execution risks while forward momentum is overlooked. In short, Nvidia’s print won’t just affect its own stock — analysts and correlated suppliers could see significant re-ratings depending on the results and guidance.