NVIDIA to report Q2 earnings tonight, Goldman Sachs says its stock market capitalization may fluctuate sharply by as much as $298 billion

NVIDIA is set to report second-quarter earnings tonight, and Goldman Sachs' trading arm said in a report that its stock market capitalization could fluctuate as much as $298 billion after the company reports earnings, an estimate based on recent option pricing data.

According to Goldman, if the company is able to report a solid growth quarter and give stronger forward guidance, it could surprise the stock market and cause the shares to move sharply.