The Nasdaq 100 Index struggled as investors awaited Jerome Powell’s speech at the Jackson Hole Symposium. The hope among investors was that he would deliver a hawkish statement because of the recent inflation data.

In his speech, he delivered a dovish tone that hinted towards interest rate cuts in the upcoming meeting, citing the worsening situation in the labor market, where the unemployment rate rose to 4.2% in July. 

This statement triggered a rebound of the Nasdaq 100 Index, which is now hovering near its all-time high. This article looks at some of the top Nasdaq 100 stocks to watch this week.

NVIDIA (NVDA)

NVIDIA, the biggest company in the world will be the top one to watch as it publishes its financial results. Historically, its results have moved the top indices, including the Dow Jones and the S&P 500 Index. 

It does that because it is the biggest beneficiary of the artificial intelligence boom because it provides the GPU’s that are used to train AI models. 

There is a chance that the company will publish strong results and issue a solid guidance. That’s because some of its biggest consumers reported strong results and committed to more spending. 

For example, Microsoft is spening over 30 billion in the current quarter on AI, a notable development because it is NVIDIA’s biggest client. Other firms like Meta Platforms and Amazon are also spending heavily on the AI space. 

Analyst anticipate NVIDIA’s results to show that its revenue jumped by 53% in the last quarter to $46 billion, with its forward guidance for this year being $202 billion. The NVIDIA stock price has jumped by 104% from its lowest point in April. 

Read more: Nvidia stock dips but bulls are keeping a close eye on Q2 earnings: is now the right time to buy

CrowdStrike (CRWD)

CrowdStrike stock will be in the spotlight this week as it also publishes its results. These numbers come at a time when the CRWD stock has moved into a bear market after falling by 20% from it highest point this year. 

On the positive side, it has formed the falling wedge pattern, which often lead to a strong rebound. If this happens, the stock may rebound to $500. 

Analysts see the results showing that its revenue to come in at $1.15 billion, up by 20% YoY. Its EPS will drop to 83 cents. However, it is likely that the earnings will be better than expected as it has always done.

Dell Technology (DELL)

Dell is another top Nadaq 100 Index stock to watch this week as it also releases its financial results. Its stock has dropped by 8% from its highest point this year and is 98% above the year-to-date low. 

Dell’s business has benefited from the ongoing spending on AI as its products are used widely in data centers. Analysts are optimistic that the company’s business is doing well, with its quarterly revenue expected to come in at $29.9 billion, a 16% YoY increase. Its EPS is expected to be $2.29, up from $1.89 in the same period last year.

Marvell Technologies (MRVL)

Marvell Technologies is a top semiconductor company that makes chips for companies like Amazon and Microsoft. It made headlines last year when it overtook Intel in market capitalization. Recently, however, Marvell stock price has crashed by over 42% from its all-time high.

Marvell Technologies will be in the spotlight as it releases its results. Analysts see its revenue coming in at $2 billion, up by 57% from last year and its earnings per share being 67 cents. 

The other top Nasdaq 100 Index to watch next week are Autodesk, Affirm, Okta, MongoDB, and Box.

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