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

Nvidia Corp. is set to report its second quarter earnings after the market close on Wednesday, with analysts expecting adjusted EPS of $2.09 on revenue of $92 billion, a 96% year-over-year increase. Meanwhile, Meta Platforms Inc.'s social media addiction trial resumes in Oakland, California, with 29 state attorneys general suing the company over claims it designed services to keep children online, potentially exposing Meta to up to $1.4 trillion in damages, a figure the attorneys general dispute.

It's nearly here. The moment Wall Street waits for every quarter since the AI trade kicked off: Nvidia's NVDA https://finance.yahoo.com/quote/NVDA/ second quarter earnings. Yes, while its Big Tech peers reported their results nearly a month ago, Nvidia is finally giving us the lowdown on its latest quarter when it reports Q2 earnings after the close on Wednesday. For the quarter, Nvidia is expected to report second quarter adjusted earnings per share EPS of $2.09 on revenue of $92 billion, according to Bloomberg analyst consensus estimates. That would mark a 96% year-over-year jump in overall revenue, and a continued quarter-over-quarter acceleration. And Meta's social media addiction trial resumes in Oakland, Calif., today after Thursday's hearing was postponed due to a sick juror. A collection of 29 state attorneys general is suing the social media giant over claims that it purposely developed its services to keep children online as long as possible and caused psychological harm. The trial is a test case for that larger suit and involves the attorneys general from four states. Meta claims the trial could leave it exposed to as much as $1.4 trillion in damages, but state attorneys general dispute that figure.